Gemfields Group Limited

Equities

GML

GG00BG0KTL52

Non-Gold Precious Metals & Minerals

End-of-day quote Johannesburg S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
2.7 ^ZAR	-0.74%		+3.85%	-14.01%

Mar. 25	Gemfields Records $17 Million Sales in March Emerald Auction	MT
Mar. 25	Transcript : Gemfields Group Limited, 2023 Earnings Call, Mar 25, 2024

Gemfields auction revenue slumps 23% in 2023 after record

January 29, 2024 at 05:04 am EST

Gemfields Group Ltd - London-headquartered gemstones producer - Posts a 23% drop in auction revenue to USD242 million in 2023 from USD316 million in 2022, an all-time record high. In an operational update, the company says the 2023 top-line growth was the second highest on record, despite withdrawn of its scheduled emerald auction for November. It scrapped the emerald auction for November due to lower quality and quantity of emerald production.

Gemfields says the Kagem emerald mine in Zambia experienced a general improvement in both the quality and quantity of premium emeralds recovered in recent months. Notes that strong auction revenues and pricing continue for both emeralds and rubies. Says it will hold commercial quality emerald auction in the first quarter, followed by a higher quality emerald auction and a mixed quality ruby auction in the second quarter. Gemfields owns 75% of Kagem mine and a 75% interest in Ruby Mining Ltda in Mozambique. It also controls luxury brand Faberge.

Current London stock price: 12.44 pence, up 1.6% on Monday morning

12-month change: down 27%

Johannesburg stock price: ZAR2.99, up 3.1%

12-month change: down 20%

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Gemfields Group Limited

Gemfields Records $17 Million Sales in March Emerald Auction	Mar. 25	MT
Transcript : Gemfields Group Limited, 2023 Earnings Call, Mar 25, 2024	Mar. 25
Gemfields annual profit tumbles after scrapping auction, write-down	Mar. 25	AN
Gemfields Group Limited Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 25	CI
Gemfields Group Limited Announces Board Role Changes, Effective 1 April 2024	Mar. 24	CI
Gemfields Group Limited Declares Final Dividend for the Year Ended 31 December 2023, Payable on 24 June 2024	Mar. 24	CI
Gemfields expects to swing to annual loss on write-down, lower output	Mar. 22	AN
Gemfields Group Limited Provides Earnings Guidance for the Year Ended 31 December 2023	Mar. 22	CI
Madagascan president's ex-aide guilty of offering mining licence for bribes	Feb. 20	RE
Madagascan president's ex-aide offered influence for bribes, London jury told	Feb. 06	RE
Gemfields auction revenue slumps 23% in 2023 after record	Jan. 29	AN
Gemfields shares rise after "decidedly healthy" ruby auction	Dec. 06	AN
Gemfields Group Limited Announces Total Auction Revenues for December 2023	Dec. 05	CI
Gemfields Says Rational Expectations' Shareholding Is 13.41% Of Total Issued Shares	23-10-25	RE
Gemfields completes USD10 million share buyback programme	23-10-23	AN
CORRECT (Oct 20): Gemfields buys back shares for ZAR176 million	23-10-23	AN
Tranche Update on Gemfields Group Limited's Equity Buyback Plan announced on December 20, 2022.	23-10-23	CI
Gemfields buys back own shares for ZAR176 million	23-10-20	AN
Gemfields Group Limited's Equity Buyback announced on December 20, 2022, has closed with 58,423,901 shares, representing 4.78% for $10.89 million.	23-10-19	CI
The FTSE 100 Closed Up as UK Retail Sales, Consumer Confidence Data Offers Economic Hope	23-09-22	DJ
Gemfields lifts interim dividend but warns of lower full-year results	23-09-22	AN
Gemfields Group Posts Lower H1 Profit, Revenue	23-09-22	MT
Tranche Update on Gemfields Group Limited's Equity Buyback Plan announced on December 20, 2022.	23-09-22	CI
Gemfields Group Limited Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-22	CI
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