Gem to start talks on Gope this year
Friday, March 19, 2010
LSE-listed Gem has put a number of projects on care-and-maintenance, it has sold out of its Democratic Republic of Congo (DRC) alluvial exploration venture - retaining equity and royalty exposure to any kimberlites found there - and it has its Central African Republic prospect on the selling block. It wants to sell its Indonesian diamond mine too.
It is producing diamonds from Letseng in Lesotho and the Ellendale mine in Australia.
Gem posted an annual profit of $25m for the year to end-December 2009 compared to a restated $522m loss the year before. Revenue was slightly lower at $244m against $297m a year earlier. It has cash on hand of $114m and no debt, having raised $98.8m in April to settle debt and put cash in its coffers.
Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...