|
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates $4.8 million in revenue from auction of previously unsold emeralds. The mini-auction was held from February 19-21. Says 10 of the 13 lots were sold, with 45,864 carats sold out of 59,192 carats on offer. Average sales price was $105.49 per carat. Emeralds were extracted from Zambian-based Kagem Mining Ltd, which is 75% owned by Gemfields. ‘This auction was solely comprised of unsold lots from Kagem’s November 2024 higher-quality emerald auction, some three months ago,’ says Adrian Banks, Gemfields’ managing director of product & sales. The composition of the schedules on offer, Banks says, remains unchanged. ‘Although market sentiment remains clearly subdued, it is encouraging to see improvement in both demand and pricing,’ he says. Current stock price in Johannesburg: R 1.61, up 11% on Monday 12-month change: down 45% Current stock price in London: 6.44 pence, up 3.1% on Monday 12-month change: down 47% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
