9th Mar 2007 07:00
9 March 2007 Gemfields Resources PLC ("Gemfields" or "the Company") Second Emerald Sale Tops US$1 Million Highlights:
* Total sales of US$1,028,128.
* Revenue per carat up by 57% compared to first sale.
Gemfields Resources PLC (AIM: GEM), the AIM listed gemstone mining and exploration company, today announces the sale of 385,035 carats of emeralds. The emeralds sold were from the company's 100% owned Mbuva-Chibolele emerald mine in Zambia.
This was the Company's second emerald sale and there was a 57% increase compared to the first sale in terms of per carat value of emerald from $1.90 to $ 2.92.
Commenting today, Peter Kitchen, CEO of Gemfields said: "The trend for better quality emeralds is encouraging. As the mine deepens we anticipate that the quality of the emeralds will continue to improve as we move away from the near surface, lower grade mineralisation."
For more information:
Peter Kitchen, CEO [email protected]
Richard James, CFO [email protected]
Gemfields Resources Plc Tel: +44 (0)20 7016 9416
www.gemfields.co.uk
Laurence Read/ Leesa Peters Tel: +44 (0) 207 429 6605
Conduit PR Cell: +44 (0) 7974 982 512
GEMFIELDS RESOURCES PLCRelated Shares:
Gemfields Grou.