(GEMR)...STRONG BUY9 Sep 2025 14:43
Shares rocketed on Thursday, more than doubling in value at one point, after it announced a £2.12 million equity raise, with proceeds earmarked to help optimise production at the Gravelotte emerald mine in South Africa and support restart work at the Curlew project in Australia.
The funds are being raised via new share subscriptions and the issue of convertible loan notes.
Hong Kong entrepreneur Louis Ching is subscribing for £617,320 worth of shares, plus £1.5 million in loan notes.
Ching, who will now hold more than 50% of Gem's shares, has also joined the board as executive chairman. Additionally, Hans Wong also joins the board as a non-executive director and a nominee of Mr Ching.
"This recapitalisation materially strengthens GEMR's financial position, addresses the near-term going-concern uncertainty, and provides the working-capital runway to execute our operational plans at Gravelotte and Curlew," Gem director Ed Nealon said.
He added: "Importantly, unlike other potential proposals presented to the company which would have required a steep discount to the prevailing share price, this transaction has been completed at market price for the subscription and at a premium to market for the convertible loan note."
Gem noted that a proposed treasury policy would allow surplus funds to be invested in selected cryptocurrencies, including bitcoin and ethereum.
"I believe GEMR has enormous potential," Louis Ching said
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