RE: £££££££££9 Sep 2025 09:20
Gem Resources PLC, more than doubles to 0.42 pence, 12-month range 0.13p-1.10p. The operator of Gravelotte, an emerald mine in South Africa, raises GBP2.1 million before expenses through a GBP617,320 subscription from newly appointed Executive Chair Louis Ching, and the issuance of GBP1.5 million in unsecured convertible loan notes. Ching is appointed to the board as of Thursday with immediate effect, and currently also serves as chair & managing director of PT International Development Corp Ltd. Funds raised will be used to strengthen the company's cash position, and progress exploration and development at Gravelotte, and at the Curlew emerald mine in Australia. "I believe GEMR has enormous potential," says Ching. "The company has good assets but has historically been underfunded. I look forward to working with the board to unlock this potential and to build long-term value for all shareholders."