Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGemfields Grou. Share News (GEM)

Share Price Information for Gemfields Grou. (GEM)

Share Price is delayed by 15 minutes
Get Live Data
3.25    0.00 (0.00%)
Bid:
3.00
Ask:
3.50
Spread: 0.50 (16.667%)
Market Cap: £56.04m
GEM Live PriceLast checked at - London Stock Exchange

Intraday Gemfields Grou. Share Chart

Gemfields profit after liability write-back

Wed, 06th Oct 2010 15:16
Gems miner Gemfields made its first ever profit in the year to June 2010, although it had a little help from the release of a provision. It swung from a loss of $291.1m to a profit of $1.5m as revenues from emerald sales jumped from $815,000 to $19.9m. A reduction in operating costs at the Kagem mine in Zambia helped AIM-quoted Gemfields make a gross profit but the reason behind the profit was the release of a $4.56m decommissioning liability. The majority of the previous year's loss came from writing the Kagem mine down to zero. Gemfields intends to reassess the value of these assets. Net debt was $627,000 at the end of June 2010. The average revenue per carat of rough emerald and beryl was nearly $1 higher after the July auction. Sales worth $7.5m were made in those auctions. Exploration has been re-initiated in the company's Zambian and Madagascan licence areas.

Related News

Gemfields shares tumble as CEO Sean Gilbertson exits amid challenges
30 Jun 2026

Gemfields shares tumble as CEO Sean Gilbertson exits amid challenges

(Alliance News) - Gemfields Group Ltd said on Tuesday Chief Executive Officer Sean Gilbertson will step down, with effect from July 15.

Gemfields generates $23.1m in auction, warns of Montepuez issues
30 Jun 2026

Gemfields generates $23.1m in auction, warns of Montepuez issues

(Sharecast News) - Gemfields said on Tuesday that its first Trade Select ruby auction generated $23.1m, although it warned that lower grades, plant co...

Mozambique's new mine ownership rules could deter foreign investment, industry body says
18 Jun 2026

Mozambique's new mine ownership rules could deter foreign investment, industry body says

VICTORIA FALLS, Zimbabwe, June 18 (Reuters) - Mozambique's new ​law ⁠requiring the state to have ​a 15% stake in all mining ventures could deter forei...

Gemfields Grou. News

IN BRIEF: Gemfields boasts record auction revenue
27 Jul 2022

IN BRIEF: Gemfields boasts record auction revenue

Gemfields Group Ltd - London-headquartered gemstones supplier - Says total auction revenue in the first half of 2022 is USD181.2 million, with all thr...

IN BRIEF: Gemfields operations go on despite insurgency in Mozambique
20 Jul 2022

IN BRIEF: Gemfields operations go on despite insurgency in Mozambique

Gemfields Group Ltd - London-headquartered gemstones supplier - Says operations of Montepuez Ruby Mining Limitada, in which it holds a 75% interest, c...

IN BRIEF: Gemfields reverses decision to issue 1.4 million new shares
30 Jun 2022

IN BRIEF: Gemfields reverses decision to issue 1.4 million new shares

Gemfields Group Ltd - London-headquartered gemstones supplier - Cancels the issue of 1.4 million new shares. Earlier in the day, the company said it h...

IN BRIEF: Gemfields says some shareholders oppose remuneration policy
29 Jun 2022

IN BRIEF: Gemfields says some shareholders oppose remuneration policy

Gemfields Group Ltd - London-headquartered gemstones supplier - Promises engagement after more than a quarter of its shareholders voted against the re...

IN BRIEF: Gemfields smashes another revenue record after ruby auction
20 Jun 2022

IN BRIEF: Gemfields smashes another revenue record after ruby auction

Gemfields Group Ltd - London-headquartered gemstones supplier - Reports record revenue of USD95.6 million at Montepuez Ruby Mining Ltd's recent auctio...

IN BRIEF: Gemfields country chief sells shares after options exercise
27 May 2022

IN BRIEF: Gemfields country chief sells shares after options exercise

Gemfields Group Ltd - London-headquartered gemstones supplier - Kartikeya Parikshya, managing director for Mozambique & Ethiopia, exercises options fo...

LONDON BROKER RATINGS: JPMorgan cuts Just Eat Takeaway and Deliveroo
27 May 2022

LONDON BROKER RATINGS: JPMorgan cuts Just Eat Takeaway and Deliveroo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday: