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Gemfields announces auction revenue results
StockMarketWire.com
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Gemstone supplier Gemfields has announced a revenue of $10.88 million from five emerald auctions held during November and December.
The auctions saw 80% of the offered carats being sold, with an overall average value of $59.84 per carat.
Principal operations at both the Kagem emerald mine and the Montepuez ruby mine have been suspended since March and April 2020. respectively. Gemfields said it hopes mining operations will resume by March 2021.
Adrian Banks, Gemfields' managing director of product and sales, said: "Prices remained robust and in a number of instances comfortably exceeded bids received in pre-Covid-19 auctions.
We now look forward to hosting one mixed quality ruby auction and one higher quality emerald auction during the first quarter of 2021 and have received very positive feedback from our clients regarding the new BidGemmer online bidding platform, giving us an important additional tool in 2021.
At 2:21pm: (LON:GEM) Gemfields PLC share price was 0p at 6.25p
Story provided by StockMarketWire.com
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