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 "Group" or the "Company")
Operational Update to 31 December
2024
LONDON, 31 JANUARY 2025
Gemfields shareholders are advised
that the Company has released information about its operational
results and financial position to 31 December 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 196 million for the
year.
·
Net debt position of USD 80.5 million (before
auction receivables of USD 33.9 million) at 31 December 2024 as
Gemfields continues to fund MRM's second processing
plant.
·
Construction of MRM's second processing plant
remains materially on budget and on track for completion by the end
of H1 2025 despite disruptions in Mozambique from October 2024 to
mid-January 2025 with civil unrest following the contested
presidential election.
·
MRM has been operating as usual since the start of
2025, following the events announced on 27 December 2024 and amid
heightened illegal miner intrusions in the wake of the civil
unrest.
·
Kagem has paused mining from the start of 2025 as
previously announced, utilising its upgraded wash plant to process
its significant stockpiles.
·
Emerald exports are, since 1 January 2025, paused
while Zambia's reintroduced 15% export duty remains in place. Kagem
anticipates that the duty may be revoked and allow a
commercial-quality emerald auction to go ahead in Q1
2025.
Commentary on the operational
performance and financial results will be available in Gemfields'
full year results and Annual Report due to be published on Thursday
27 March 2025.
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, please contact us on:
ir@gemfields.com
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 / Amrit Mahbubani / John More
T: +44(0) 20 3100
2222
|
|
PRESS ENQUIRES, GEMFIELDS HEAD
OFFICE, LONDON
|
Helena Choudhury / Albertina
Namburete
helena.choudhury@gemfields.com
/ albertina.namburete@gemfields.com
|
|
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 |
X | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM
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YOUTUBE
KAGEM
MINING LINKEDIN
MONTEPUEZ
RUBY MINING LINKEDIN
