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Gemfields Grou. (GEM) Share News

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

IN BRIEF: Gemfields ruby revenue down amid headwinds after auction

19th Jun 2024 08:31

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD68.7 million in revenue from auction of rubies from the Montepuez ruby mine in Mozambique. The ruby auction took place from June 3 to Tuesday this week. At the ruby auction held between November 20 and December 5, 2023, revenue was USD69.5 million. At around the same time in June last year, auction revenue amounted to USD80.4 million. Average realised price was USD316.95 per carat this month, up from USD290.02 per carat in December 2023. Read More

UK shareholder meetings calendar - next 7 days

18th Jun 2024 15:27

UK dividends calendar - next 7 days

17th Jun 2024 15:40

Gemfields picks ex-De Beers chief executive Bruce Cleaver as new chair

11th Jun 2024 08:19

(Alliance News) - Gemfields Group Ltd announced on Tuesday that former De Beers boss Bruce Cleaver will become its new chair from next month. Read More

IN BRIEF: Gemfields test shows noteworthy gold deposits in Mozambique

6th Jun 2024 08:13

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Reports that a maiden mineral resource estimate infers "noteworthy" gold deposits of 103,000 ounces at its Nairoto gold project in Cabo Delgado, northern Mozambique. Inferred mineral resource estimated at 1.58 million tonnes of mineralised rock, with a gold grade of 2.02 gram per tonne. The mineral resource estimate is for Target Area 5, or TL5, and the analysis was conducted by SRK Exploration Ltd. The project is housed within Nairoto Resources Ltda, which is 75% owned by Gemfields. Read More

IN BRIEF: Gemfields lauds robust emerald auction despite softer market

31st May 2024 13:28

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD35.0 million in revenue from an emerald auction that took place over May 13 to May 30, compared to USD43.7 million at an auction in May to June 2023. Says 46 lots were offered for sale at the latest auction, of which 43 were sold, and the average price was USD167.51 per carat. The rough emeralds sold were extracted by Kagem emerald mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corp of Zambia. Read More

UK dividends calendar - next 7 days

30th May 2024 13:01

Gemfields annual profit tumbles after scrapping auction, write-down

25th Mar 2024 08:18

(Alliance News) - Gemfields Group Ltd reported on Monday it had slashed its dividend after profit dived due to a write-down on its platinum group metals investment and the withdrawal of emerald auction. Read More

UK earnings, trading statements calendar - next 7 days

22nd Mar 2024 15:16

Gemfields expects to swing to annual loss on write-down, lower output

22nd Mar 2024 08:32

(Alliance News) - Gemfields Group Ltd warned on Friday it expects to swing to an annual loss after a platinum group metals write-down and the withdrawal of emerald auction. Read More

IN BRIEF: Gemfields auction revenue slumps 23% in 2023 after record

29th Jan 2024 10:03

Gemfields Group Ltd - London-headquartered gemstones producer - Posts a 23% drop in auction revenue to USD242 million in 2023 from USD316 million in 2022, an all-time record high. In an operational update, the company says the 2023 top-line growth was the second highest on record, despite withdrawn of its scheduled emerald auction for November. It scrapped the emerald auction for November due to lower quality and quantity of emerald production. Read More

IN BRIEF: Gemfields shares rise after "decidedly healthy" ruby auction

6th Dec 2023 13:12

Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Generates revenue of USD69.5 million from its ruby auction, down 14% from USD80.4 million in June. The latest ruby sale was held during November 20 to December 5. Compared to 2022, ruby revenue was up 4.0% from USD66.8 million at an auction that took place on November 21 to December 8. The auction lots this month were made available in Bangkok for private, in-person viewings by customers. Read More

IN BRIEF: Gemfields completes USD10 million share buyback programme

23rd Oct 2023 10:14

Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Completes USD10 million share buyback programme on Friday, having purchased 58.4 million shares in total at an average price of ZAR3.17 per share. This represents 4.8% of total shares prior to the start of the buyback and is worth ZAR185.4 million in total, about USD9.7 million. Gemfields now holds 55.7 million shares in treasury, and all of these will be cancelled. Read More

CORRECT (Oct 20): Gemfields buys back shares for ZAR176 million

23rd Oct 2023 10:01

(Correcting that buy back amount is total in programme to date.) Read More

IN BRIEF: Gemfields buys back own shares for ZAR176 million

20th Oct 2023 07:52

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Buys back 55.6 million shares at an average ZAR3.17 each, in transactions worth ZAR176.4 million on Wednesday. Says this repurchase represents 4.6% of the issued share capital of 1.21 billion as at November 30, 2022. Gemfields has 52.8 million shares held in treasury. Read More

Gemfields lifts interim dividend but warns of lower full-year results

22nd Sep 2023 08:36

(Alliance News) - Gemfields Group Ltd on Friday reported profit for the first half of 2023 more than halved as a result mainly of lower sales. Read More

CORRECT: Gemfields nets USD25 million revenue from emerald auction

18th Sep 2023 09:36

(Correcting that the first auction recorded USD21.2 million in March, not May) Read More

IN BRIEF: Gemfields nets USD25 million revenue from emerald auction

18th Sep 2023 09:24

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD25.5 million in revenue from its third and final Kagem emerald auction this year, compared to USD43.7 million at an auction in May-June. In May, revenue was USD21.2 million. The latest auction was held during the period from August 29 to September 15. The rough emeralds sold were extracted by Kagem emerald mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corp of Zambia. Read More

Gemfields shares fall sharply after first-half earnings warning

14th Sep 2023 09:20

(Alliance News) - Gemfields Group Ltd said on Thursday it expects interim profit to tumbled by over two thirds on the back of sharply lower top-line growth. Read More

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