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 "Group" or the "Company")
Auction Results: Sale of previously
unsold Higher-Quality Emeralds
LONDON, 24 FEBRUARY 2025
Gemfields is pleased to announce the
results of a mini-auction held from 19 to 21 February 2025 of
previously unsold higher-quality emeralds from the November 2024
auction.
Highlights - Auction of Previously Unsold Higher-Quality
Emeralds - February 2025
• Auction
revenues of USD 4.8 million
• 10 of the
13 lots were sold (77%) with 45,864 carats sold out of 59,192
carats on offer (77%)
• Average
sales price of USD 105.49 per carat
Adrian Banks, Gemfields' Managing
Director of Product & Sales, commented:
"This auction was solely comprised of unsold
lots from Kagem's November 2024 higher-quality emerald auction,
some three months ago. The composition of the schedules on offer
remained unchanged, providing Gemfields with a rare opportunity to
directly compare demand and pricing between two
auctions.
It
was pleasing to receive notably higher bids, resulting in 10 of the
13 unsold lots being successfully sold in this auction. Although
market sentiment remains clearly subdued, it is encouraging to see
improvement in both demand and pricing. We extend our best wishes
to our Auction Partners ahead of the upcoming trade shows in
Bangkok and Hong Kong."
The rough emeralds sold were
extracted by Kagem (which is 75% owned by Gemfields and 25% by the
Industrial Development Corporation of Zambia). The proceeds of this
auction will be fully repatriated to Kagem in Zambia with all
royalties due to the Government of the Republic of Zambia 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, please contact us on:
ir@gemfields.com
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 / Amrit Mahbubani / John More
T: +44(0) 20 3100
2222
|
|
PRESS ENQUIRES, GEMFIELDS HEAD
OFFICE, LONDON
|
Helena Choudhury / Albertina
Namburete
helena.choudhury@gemfields.com
/ albertina.namburete@gemfields.com
|
|
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
|
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KAGEM
MINING LINKEDIN
MONTEPUEZ
RUBY MINING LINKEDIN
