IN BRIEF: Gemfields interim auction revenue down 17% to USD121 million
26th Jul 2024 08:16
Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Reports a 17% decline in auction revenue to USD121 million for the first six months of 2024 from USD145 million a year earlier. These unaudited figures have been produced on a monthly basis for Gemfields' 75%-owned Kagem emerald mine in Zambia, 75%-held Montepuez Ruby Mining Ltda in Mozambique and luxury brand Faberge. At June 30, the group's cash and cash equivalents were USD22.3 million, with USD66.7 million of outstanding debt, resulting in a net debt position of USD44.4 million. Read More