Kimberley Diamond shares down on takeover denial

Shares in West Perth diamond miner Kimberley Diamond Company NL fell today after the company dismissed rumours of a takeover bid from UK-based Gem Diamonds Ltd.

In an announcement to the ASX, Kimberley said it had not received a takeover proposal from Gem or any other company.

Kimberley's share price jumped 11 per cent yesterday on the news. They were trading 4% lower at at 92 cents 2:00 WDT.