Gem Diamonds Limited (OTCMKTS:GMDMF – Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 39,190 shares, an increase of 15,639.0% from the August 31st total of 249 shares. Based on an average daily volume of 17,300 shares, the short-interest ratio is currently 2.3 days.
Gem Diamonds Stock Performance
Shares of OTCMKTS GMDMF remained flat at $0.17 during mid-day trading on Thursday. The firm’s 50-day simple moving average is $0.09 and its 200 day simple moving average is $0.07. Gem Diamonds has a 12-month low of $0.01 and a 12-month high of $0.18.
About Gem Diamonds
Gem Diamonds Limited is a diamond mining company focused on the exploration, recovery and sale of high-quality rough diamonds. Its principal asset is the Letšeng diamond mine in Lesotho, which the company operates through a joint venture with the Government of Lesotho. Letšeng is known for producing large, high-value diamonds and is regarded as one of the world’s highest-elevation diamond mines.
Gem Diamonds acquired its interest in Letšeng in 2006 and has since recovered several notable stones, including the 603-carat Lesotho Promise.
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