Mozambique: Natural gas dethrones coal as greatest export in Q1
Gemfields posts interim auction revenue of $145 million
11:47 CAT | 31 Jul 2023
FILE - For illustration purposes only. [File photo: Gemfields]
Gemfields Group Ltd – London-headquartered gemstones miner and marketer – Records total auction revenue of $145 million for the six months that ended June 30, the third highest half-year in its history.
Revenue included contributions from emerald and ruby auctions, and Faberge. Gemfields says strong auction revenues and pricing continue, including the highest-ever revenue earned from a Kagem emerald auction last month.
Reports net cash of $62 million plus auction receivables of $64 million as at June 30. Says it remains in a strong position after paying a $35 million dividend to shareholders in May.
Auction figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine in Zambia, its 75%-owned Ruby Mining Ltda in Mozambique and Faberge, the iconic luxury brand.
Current London stock price: 16.12 pence, up 2.4% on Monday
12-month change: up 14%
Current Johannesburg stock price: R 3.60, unchanged
12-month change: up 24%
Source: Alliance News
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