Gem Diamonds (GEMD) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 carats recovered were 19,299 vs 22,268 in Q3 2025; carats sold were 17,899 vs 22,830.

• Revenue rose to US$34.8m from US$25.7m, with average sales price increasing to US$1,945/carat from US$1,124/carat.

Financial highlights

• Q3 revenue was US$34.8m; YTD revenue reached US$94.3m vs US$70.4m in YTD 2025.

• Four diamonds sold for more than US$1.0m each, contributing US$22.2m to Q3 revenue.

Outlook and guidance

• FY2026 carats recovered guidance revised to 78–80k from 75–78k; carats sold to 79–81k from 77–80k.

• FY2026 ore treated guidance revised to 5.1–5.2Mt from 5.0–5.2Mt; waste mined guidance to 0.57–0.62Mt from 0.4–0.6Mt.

• Revised FY2026 cost guidance: direct cash costs before waste M205–215/t treated; operating costs M305–315/t treated; waste cash costs M73–78/t mined.

• FY2026 total capex guidance revised to US$0.34–0.45m from US$1.0–1.5m.