Gem Resources denies plan to delist from London and go private

(Alliance News) - Gem Resources PLC on Tuesday said it has not decided to cancel its London listing or become a private company, saying its comment was in response to recent market speculation.

The emerald miner in South Africa, Zambia and Australia said speculation circulating on investor bulletin boards suggested it intended to seek cancellation of its shares from the London Main Market.

Gem Resources said no such decision has been taken by the board, and it has "no current intention" to seek cancellation of its listing or admission to trading.

The company said however that it continues to evaluate strategic and corporate opportunities in the ordinary course of business.

Shares in Gem Resources were up 4.7% at 0.45 pence in London on Tuesday morning.

By Eva Castanedo, Alliance News reporter

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