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IN BRIEF: Gemfields Sees USD10.9 Million In Revenue From Mini-Auctions

Fri, 11th Dec 2020 15:47

Gemfields Group Ltd - London-based supplier of gemstones - Announces aggregate revenue of USD10.9 million with an overall average value of USD59.84 per carat from emerald mini-auctions in Tel Aviv, Singapore and Jaipur. The emeralds were extracted by Kagem Mining Ltd in Zambia. Says 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.

Current stock price: ZAR1.45 in Johannesburg; 6.72 pence in London

Year-to-date change: down 19% in Johannesburg; in London down 38% since February 14

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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