Incorporated in Guernsey.
Guernsey registration Number: 47656.
South
African external company registration number
2009/012636/10
Share
code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52
| LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")
Operational Update to 30 June
2024
LONDON, 26 JULY 2024
Gemfields shareholders are advised
that the Company has released information about its operational
results and financial position for the six months ended 30 June
2024.
These unaudited figures have been
produced on a monthly basis for Gemfields' 75%-owned Kagem emerald
mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic
luxury brand.
The full operational results and an
excel spreadsheet of Gemfields' historic figures can be found on
the Company's website at www.gemfieldsgroup.com/operational-update/.
Highlights
·
Total auction revenues of USD 121 million, with
continued demand for rough emeralds and rubies
·
Construction of MRM's second processing plant
remains on budget and on track for completion by end of H1
2025
·
Kagem's wash plant upgrade is complete and
operating at an increased processing rate
·
Net debt position of USD 44.4 million (before
auction receivables of USD 65.5 million) at 30 June 2024, as
Gemfields continues to invest in its previously communicated
capital expenditure plan, funded through a mixture of cash reserves
and increased debt
·
USD 10 million returned to shareholders in 2024 to
reflect the good results in 2023
·
Next auctions planned: Commercial-quality emerald
auction in Q3 2024, followed by a higher-quality emerald auction
and a mixed-quality ruby auction in Q4 2024
Commentary on the operational
performance and financial results will be available in Gemfields'
interim results due to be published on Friday 27 September
2024.
Shareholders are advised that all
figures in this operational update are unaudited, in respect of
which the directors assume full responsibility.
-ENDS-
Further
information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join
our investor mailing list, contact us on:
ir@gemfields.com
For any
press enquiries please contact us on:
gemfields@camarco.co.uk
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law
pursuant to the European Union (withdrawal) act 2018
("MAR").
ENQUIRIES
|
GEMFIELDS
|
Sean Gilbertson / David Lovett / Ian
Hughes
ir@gemfields.com
T: +44(0) 20 7518 3400
|
|
SPONSOR (JSE)
|
Investec Bank Limited
|
|
NOMINATED ADVISER
(AIM) & BROKER
|
Panmure Liberum
Scott Mathieson / John More / Anake Singh
T: +44(0) 20 3100 2222
|
|
FINANCIAL PR/ IR
|
Camarco
Gordon Poole / Emily Hall
T: +44(0) 20 3757 4980
|
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading
responsible miner and marketer of coloured gemstones. Gemfields is
the operator and 75% owner of both the Kagem emerald mine in Zambia
(believed to be the world's single largest producing emerald mine)
and the Montepuez ruby mine in Mozambique (one of the most
significant recently discovered ruby deposits in the world). In
addition, Gemfields also holds controlling interests in various
other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.
Gemfields' outright ownership of
Fabergé - an iconic and prestigious brand of exceptional heritage -
enables Gemfields to optimise positioning, perception and consumer
awareness of coloured gemstones through Fabergé designs, advancing
the wider group's "mine and market" vision.
Gemfields has developed a
proprietary grading system and a pioneering auction platform to
provide a consistent supply of coloured gemstones to downstream
markets, a key component of Gemfields' business model that has
played an important role in the growth of the global coloured
gemstone sector.
GEMFIELDS
GEMFIELDS.COM
|
INVESTORS |FOUNDATION
INSTAGRAM
| FACEBOOK | TWITTER
| YOUTUBE
FABERGÉ
FABERGÉ.COM
| INSTAGRAM
| FACEBOOK
| TWITTER | YOUTUBE
KAGEM
MINING LINKEDIN
MONTEPUEZ
RUBY MINING LINKEDIN