GEM DIAMONDS LTD

GEM DIAMONDS LTD

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Company Overview
The company is a publicly quoted enterprise that operates as a diamond mining company. It conducts its business from its registered head office located in Road Town, Virgin Islands (British). It was incorporated in the year 2005.
The company’s business operation is primarily involved in exploring for and developing diamond mines and producing diamonds. Its portfolio comprises producing kimberlite, lamproite and alluvial mines, development projects and exploration assets. It also engages in cutting and polishing rough diamonds. The company’s internal operation is under the supervision and management of its Chief Executive Officer Clifford Thomas Elphick. It is publicly traded on the London Stock Exchange under the ticker symbol GEMD.
Business Summary
The Company is a global diamond company that has been pursuing a long term growth strategy through targeted acquisitions and the development of existing assets.
Description and history
The Company is a global diamond company that has been pursuing a long term growth strategy through targeted acquisitions and the development of existing assets.

The Companywas incorporated on 29 July 2005 in the British Virgin Islands. The Company’s registration number is 669758.
The Company’s shares were listed on the London Stock Exchange on February 19, 2007.

Acquisitons:

On 29 May 2007, the Group acquired 100% of the share capital of BDI Mining, a diamond mining and gold exploration group which owned a producing alluvial diamond mine and a gold development project. BDI Mining, through its indirect wholly owned subsidiary, Ashton MMC Pte Limited, owns 80% in PT. Galuh Cempaka, which holds the mining rights to Cempaka Mine in Indonesia. BDI Mining also indirectly owned 100% of Woodlark Mining Limited, which owns the Woodlark Gold Project located in Papua New Guinea. The Group disposed of Woodlark Mining Limited on 30 June 2007.

During 2006 the initial 49.99% share capital of KDC was acquired for US$18.0 million. During October 2007 the Group
acquired the remaining 50.01% share capital of KDC for US$56.2 million, resulting in KDC now being a wholly owned subsidiary of the Group. As part of the recent acquisition, shareholders loans of US$5.9 million were acquired, resulting in a net share purchase cost of US$50.3 million.

On 23 September 2008, the Group acquired 100% of the share capital of Calibrated Diamonds, an unlisted company in South Africa, which holds the intellected property rights to certain key polishing processes.

Business Line
Operates as a diamond mining company
Subsidiary
BDI MINING CORP.
Advisor
ERNST & YOUNG LLP
IPO date
2/19/2007
US SIC Code
1499
Company Address
Harbour House
Waterfront Drive
City province or state postal code
ROAD TOWN
Phone: +284 494 9820
Fax: +284 494 6934
Country address: VIRGIN ISLANDS (BRITISH)
Website url: www.gemdiamonds.com