Gem Diamonds Limited announced production and sales result for the fourth quarter and full year ended December 31, 2019. For the quarter, the company reported waste tonnes stripped of 5,339,250 ore tonnes treated of 1,631,687 and Satellite pipe contribution (tonnes) of 898,844, Carats recovered of 29,768.

For the year, the company reported waste tonnes stripped of 24,029,309 ore tonnes treated of 6,707,791 and Satellite pipe contribution (tonnes) of 1,988,813 Carats recovered of 113,974.

For the quarter, the company's carats sold was 29,945 and total value of sales was $51.3 million.

For the year, the company's carats sold was 111,291 compared with 125,1112 a year ago. Total value of sales was $182.1 million compared with $266.6 million a year ago.

The company provided production guidance for the year. For the year, the company expects Direct cash costs, (before waste and including Business Transformation costs) per tonne treated (Maloti) of 182 Mt - 193 Mt, Operating costs (including Business Transformation costs) per tonne treated (Maloti) of 257 Mt - 268 Mt, Mining waste cash costs per tonne of waste mined of 36 - 38.