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Gemfields Grou. (GEM) Share News

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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 In an operational update, the company says the 2023 top-line growth was the second highest on record, despite withdrawn of its scheduled emerald auction for November.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

IN BRIEF: Gemfields ruby unit enters into contract to build new plant

7th Aug 2023 08:58

Gemfields Group Ltd - London-headquartered gemstones supplier - Says its subsidiary Montepuez Ruby Mining Ltda has entered into a legally binding contract with Consulmet Ltd to construct an additional processing plant at its ruby mine in Mozambique. Gemfields says the contract is a "lump-sum turnkey contract" based on industry standard International Federation of Consulting Engineers terms, with Montepuez Ruby Mining's payment obligations agreed in rands and equating to about USD70 million. Read More

CORRECT: Gemfields posts interim auction revenue of USD145 million

31st Jul 2023 09:59

(Correcting that revenue also includes ruby auctions and Faberge; not just emerald auctions.) Read More

IN BRIEF: Gemfields posts third highest emerald auction revenue

31st Jul 2023 08:10

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Records its third highest emerald auction revenue of USD145 million for the six months that ended June 30. Says strong auction revenues and pricing continue, including the highest-ever revenue earned from a Kagem emerald auction last month. Reports net cash of USD62 million plus auction receivables of USD64 million as at June 30. Says it remains in a strong position after paying a USD35 million dividend to shareholders in May. Auction figures have been produced on a monthly basis for Gemfields' 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Faberge, the iconic luxury brand. Read More

Gemfields ruby auction revenue up 20% as market fires on all cylinders

21st Jun 2023 08:13

(Alliance News) - Gemfields Group Ltd on Wednesday reported higher revenue at its latest ruby auction as the market fired "on all twelve cylinders". Read More

UK shareholder meetings calendar - next 7 days

20th Jun 2023 15:44

Read More

IN BRIEF: Gemfields gets record revenue and price at emerald auction

2nd Jun 2023 08:36

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Second auction in 2023 generates record revenue of USD43.7 million. The emerald auction was held from May 15 to Thursday this week. Average realised price of USD165.55 per carat also is a record high for Gemfields. Read More

IN BRIEF: Gemfields records USD21.2 million in revenue at emerald sale

27th Mar 2023 14:05

Gemfields Group Ltd - London-headquartered gemstones supplier - Says its first emerald auction for 2023 generated revenue of USD21.2 million at a sale that was held during March 6 to Friday, down 36% from USD32.9 million on August 31 to September 19, 2022. From March 15 to April 1, 2022, emerald auction recorded USD42.3 million in revenue. Read More

Gemfields annual revenue hits record in 2022 on strong gemstone demand

24th Mar 2023 08:09

(Alliance News) - Gemfields Group Ltd on Friday reported that its performance in 2022 was "remarkable", as the coloured gemstone market returned to normality after the Covid-19 pandemic that hit in 2020. Read More

IN BRIEF: Gemfields unit shuts operations after attack in Mozambique

14th Feb 2023 10:58

Gemfields Group Ltd - London-headquartered gemstones supplier - Says its subsidiary Nairoto Resources Ltda has ceased operations following an insurgency attack in the Cabo Delgado province, Mozambique. Nairoto Resources, in which Gemfields owns 75% stake, starts evacuating its operational employees and contractors. Says there is no impact on operations at Montepuez Ruby Mining Ltda, another Mozambican business in which is also hold 75%. Read More

IN BRIEF: Gemfields hits new annual auction revenue record

31st Jan 2023 09:14

Gemfields Group Ltd - London-headquartered gemstones supplier - Sets new annual auction revenue of USD316 million in 2022, up 32% from USD240 million in 2021. Gemfields owns 75% in Montepuez Ruby Mining Ltda in Mozambique. It also holds 75% of Kagem Mining Ltd in Zambia. The company operates a retail unit Faberge. Read More

IN BRIEF: Gemfields begins USD10 million share buyback programme

20th Dec 2022 10:12

Gemfields Group Ltd - London-headquartered gemstones supplier - Begins USD10 million share buyback programme, after receiving approval from shareholders at its extraordinary general meeting, held late last month. Read More

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