Gem Diamonds Limited (OTCMKTS:GMDMF) Shares Shorted: Short Interest Up 15,639.0% in September

Gem Diamonds Limited (OTCMKTS:GMDMF) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 39,190 shares, a growth of 15,639.0% from the August 31st total of 249 shares. Based on an average trading volume of 17,300 shares, the short-interest ratio is presently 2.3 days.

Gem Diamonds Price Performance

OTCMKTS:GMDMF remained flat at $0.17 during mid-day trading on Thursday. Gem Diamonds has a 1 year low of $0.01 and a 1 year high of $0.18. The firm has a 50 day moving average of $0.09 and a two-hundred day moving average of $0.07.

Gem Diamonds Company Profile

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.