Incorporated in Guernsey.
Guernsey registration Number: 47656.
South
African external company registration number
2009/012636/10
Share
code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52
| LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")
Auction Results - MRM
Commercial-Quality
LONDON, 5 SEPTEMBER 2024
Gemfields is pleased to announce the
results of an auction of predominantly commercial-quality sapphire,
corundum and commercial-quality ruby held from 2 to 4 September
2024.
Highlights - MRM Commercial-Quality Auction - September
2024
• Auction
revenues of USD 2.3 million (2023's MRM Commercial-Quality Auction:
USD 1.5 million)
• All of the
5.7 million carats (1,130 kilograms) offered in 10 lots were sold
(100%)
• Average
sales price of USD 0.41 per carat
Adrian Banks, Gemfields' Managing
Director of Product & Sales, commented:
"We extend our gratitude to the auction
participants who made this brief, three-day auction such an
enjoyable event. The majority of the
auction's offering consisted of corundum and sapphire, which are
considered by-products of MRM. Despite the commercial nature of
these goods, the auction saw strong attendance and robust demand.
The significant volume of the lower-priced rough sold, will support
the factories in the cutting centres of Chanthaburi, Thailand and
Jaipur, India. We thank and congratulate
the Government of Mozambique and our partners at Mwiriti - both of
whom attended the auction - on what are very healthy results for
material of this quality."
The gemstones were extracted by
Montepuez Ruby Mining Limitada in Mozambique ("MRM", which is 75%
owned by Gemfields and 25% by Mwiriti Limitada). The proceeds of
this auction will be fully repatriated to MRM in Mozambique, with
all royalties due to the Government of the Republic of Mozambique
being paid on the full sales prices achieved at the
auction.
-ENDS-
Further
information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join
our investor mailing list, contact us on:
ir@gemfields.com
For any
press enquiries please contact us on:
gemfields@camarco.co.uk
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law
pursuant to the European Union (withdrawal) act 2018
("MAR").
ENQUIRIES
|
GEMFIELDS
|
Sean Gilbertson / David Lovett / Ian
Hughes
ir@gemfields.com
T: +44(0) 20 7518 3400
|
|
SPONSOR (JSE)
|
Investec Bank Limited
|
|
NOMINATED ADVISER
(AIM) & BROKER
|
Panmure Liberum
Scott Mathieson / John More / Anake Singh
T: +44(0) 20 3100 2222
|
|
FINANCIAL PR/ IR
|
Camarco
Gordon Poole / Emily Hall
T: +44(0) 20 3757 4980
|
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading
responsible miner and marketer of coloured gemstones. Gemfields is
the operator and 75% owner of both the Kagem emerald mine in Zambia
(believed to be the world's single largest producing emerald mine)
and the Montepuez ruby mine in Mozambique (one of the most
significant recently discovered ruby deposits in the world). In
addition, Gemfields also holds controlling interests in various
other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.
Gemfields' outright ownership of
Fabergé - an iconic and prestigious brand of exceptional heritage -
enables Gemfields to optimise positioning, perception and consumer
awareness of coloured gemstones through Fabergé designs, advancing
the wider group's "mine and market" vision.
Gemfields has developed a
proprietary grading system and a pioneering auction platform to
provide a consistent supply of coloured gemstones to downstream
markets, a key component of Gemfields' business model that has
played an important role in the growth of the global coloured
gemstone sector.
GEMFIELDS
GEMFIELDS.COM
|
INVESTORS |FOUNDATION
INSTAGRAM
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| YOUTUBE
FABERGÉ
FABERGÉ.COM
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| TWITTER | YOUTUBE
KAGEM
MINING LINKEDIN
MONTEPUEZ
RUBY MINING LINKEDIN