Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Second auction in 2023 generates record revenue of $43.7 million. The emerald auction was held from May 15 to Thursday this week. Average realised price of $165.55 per carat also is a record high for Gemfields.
The auction lots were made available in Bangkok for private, in-person viewings by customers. A total of 35 lots were offered and all were sold. The rough emeralds were extracted from the Kagem emerald mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corp of Zambia.
‘Gemfields’ second auction of 2023 has yielded a positively surprising outcome,’ says Adrian Banks, managing director of product & sales. ‘In our last auction of November 2022, we saw the market normalise appreciably when compared with the exuberance of the first half of 2022. We are delighted today to see the market rebound sharply once again, underpinning the step-change in market pricing which we reported in 2022.’
Current stock price in London: 15.95 pence, up 8.1% on Friday
12-month change: down 2.5%
Current stock price in Johannesburg: R 3.75, up 4.2%
12-month change: up 17%
Copyright 2023 Alliance News Ltd. All Rights Reserved.
