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[caption id="attachment_370" align="alignleft" width="210" caption="Gems diamond rough"]<strong><strong><a href="http://blog.biggstock.com/wp-content/uploads/2010/05/gem-diamonds-rough_biggstock2.jpg"><img class="size-full wp-image-370" title="gem-diamonds-rough_biggstock" src="http://blog.biggstock.com/wp-content/uploads/2010/05/gem-diamonds-rough_biggstock2.jpg" alt="" width="210" height="265" /></a></strong></strong>[/caption]

<strong> </strong>Gems Diamonds rough sales <strong>rose 11 percent to $42.9 million in the first quarter of 2010</strong> in part due to strong prices The mining company observed that consumer demand for goods had improved and positively impacted polished prices; however, price increases for finished goods have not risen as sharply as they have for rough diamonds.

The <strong>average price per carat from Letseng diamonds</strong> rose 72 percent to $1,753. Letseng’s April tender achieved an average price of $2,002 per carat. Production from the mine fell 6 percent to 20,507 carats. Gem Diamonds ended the quarter with $88.5 million in cash and no debt

REF: <a href="http://www.idexonline.com/portal_FullNews.asp?id=33995" target="_blank">Gem 1Q Sales Rise on Strong Prices</a>