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Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates revenue of $16.4 million from rough emerald auction held between April 11 and Tuesday this week, up 52% from $10.8 million earned in an auction that took place in August and September last year but down 4.1% from $17.1 million for the March 2024 auction. In latest auction, 32 of 36 lots for sale were sold. Average price is $6.87 per carat. Emeralds were extracted from Zambian-based Kagem Mining Ltd, which is 75% owned by Gemfields.
‘Today’s result marks a notable improvement on the disappointing commercial-quality auction held in September 2024,’ says Adrian Banks, Gemfields’ managing director of product & sales. ‘An increased number of bids and stronger prices across a broad quality-range point to improved sentiment and demand since our experience in Q3 2024,’ Banks says.
Current stock price in Johannesburg: R 1.10, up 3.8% on Wednesday morning
12-month change: down 60%
Current stock price in London: 4.40 pence, up 3.5%
12-month change: down 64%
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