Jannine Millingham-Groenewald
Good morning, ladies and gentlemen, and welcome to Gem Diamonds Half Year Results Presentation for the 6 months ended 30 June 2025. Our presenters today are Clifford Elphick, CEO of Gem Diamonds; Michael Michael, CFO; and Brandon de Bruin, COO. [Operator Instructions]
I will now hand over to Clifford.
Clifford Elphick
Founder, CEO & Executive Director
Good morning, everybody, and welcome to Gem Diamonds’ Half Year Results for 2025. I’m sure you have the page up in front of you. This is the disclaimer. I’d ask you all at your leisure, please to read through this. As Jannine said, it’s me, as the CEO, Michael, CFO; and Brandon, the COO.
We are now on Page 4, a quick snapshot of the first half of 2025. Carats recovered at some 47,000. That’s slightly less than what we would normally do, but on plan. The important point to note is the dollar per carat achieved at just over $1,000. And this, of course, drives the revenue figure on the right-hand side $45.5 million. We have a negative EBITDA of $2.6 million, which is extremely disappointing for Gem, but nevertheless, this is a function of the price issues which are in the diamond industry at the moment.
That, therefore, drives a loss per share of $0.084. We have net debt of $28 million, but immediately below that bottom right-hand corner, you’ll see we have some undrawn facilities of close to $56 million.
Bottom left, our all injury frequency rate. It’s an important point. We’re very proud of that. We have trended, as you will see, Brandon will deal with this later in the
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