RCS - Gem Resources PLC - Operational Update

Gem ResourcesAnnouncement

03/04/2025 07:00

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RNS Number : 3997D  Gem Resources PLC  03 April 2025

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Gem Resources Plc

("GEMR" or the "Company")

Operational Update - Gravelotte Emerald Mine, South Africa

Gem Resources Plc (LSE: GEMR), the owner and operator of the Gravelotte
Emerald Mine in South Africa, is pleased to provide the following operational
update on progress at the Company's flagship Gravelotte Emerald Mine in South
Africa.

 

Highlights

 

• Upgraded processing plant operating consistently at up to 100 tonnes per
day

• Hard rock mining commenced in late January 2025 with very encouraging
emerald recoveries from newly exposed ore zone

• Consistent production maintained in February and March

 

Following the successful commissioning of its purpose-built emerald processing
plant in mid-2024, GEMR completed a key upgrade in December 2024 with the
installation of a double-deck vibrating washing and sizing screen. This
enhancement increased plant throughput by approximately 45% and significantly
improved recovery efficiency. Since then, the plant has been operating at up
to 100 tonnes per day with stable performance and no material processing
issues.

Initial processing during 2024 focused on emerald-bearing material from
historical tailings and surface dumps. A first trial sale of the material
produced from the tailings and dump was originally planned for September 2024
(to establish price benchmarks and engage market interest) as part of a far
larger auction conducted by Bonas Group, was postponed due to export delays to
Thailand.

Commencement of Hard Rock Mining at Cobra

In December 2024, preparatory works were initiated at the Cobra Pit, one of
two historically mined open pits at Gravelotte. As shareholders will be aware,
independent geological studies confirmed a significant resource potential at
Cobra, forming part of an estimated in-situ JORC Mineral Resource of
approximately 29 million carats across the project. Our mining to date this
year validates these studies, as described below.

Hard rock mining of the newly exposed ore zone at Cobra commenced in late
January 2025, targeting  emerald-bearing schist formations. The geological
characteristics observed during extraction strongly align with historical
production records, and early results have been highly encouraging in terms of
the quality, colour and clarity.

Despite heavy seasonal rainfall causing disruption and causing rain related
delays, mining, processing and extraction throughout February and March was
consistently good. Processed output from the Cobra ore zone has continued to
deliver promising results, further supporting confidence in the long-term
production potential of the pit and supporting the decision to move to
hard-rock mining.

Outlook and Next Steps

GEMR is actively working towards its first trial sale of emeralds and expects
to provide the market with further details in the near term. Mining operations
at Cobra remain ongoing, and the Company continues to build on the operational
momentum achieved since the start of the year. As seasonal conditions begin to
improve in Western Australia, the Company is also preparing to commence
further site upgrades and field activities at its Curlew Emerald Project. A
detailed update on Curlew will be provided shortly.

Ed Nealon, Chairman of GEM Resources PLC, commented: "Our entry into hard rock
mining at Cobra has begun with great promise. The performance of the upgraded
plant and the consistency of emerald recoveries-despite challenging
weather-highlight the effectiveness of the systems we've put in place. While
2024 was a year of groundwork, we are now firmly into the delivery phase. We
look forward to progressing to our first trial sale and demonstrating to
shareholders the commercial potential of Gravelotte."

 

Enquiries:

 

 Gem Resources Plc                                                                                                             +44 (0)746 368 6497

 Chief Executive Officer

 Bernard Olivier

 Executive Director

 Peter Redmond

 Chief Operating Officer

Jeremy Sturgess-Smith

                                                                                                                             info@gemresources.co.uk (mailto:info@gemresources.co.uk)

 Peterhouse Capital Limited                                                                                                    +44 (0)20 7469 0930

 Joint Corporate Broker

 Lucy Williams

 Duncan Vasey

 Capital Plus Partners

 Joint Corporate Broker

 Jonathan                                                                                                                      +44 (0)203 821 6169
 Critchley

 

 

About Gem Resources Plc ("GEMR")

 

GEMR is an emerging emerald producer, focusing on the Gravelotte Emerald Mine.
Historically, GEMR is one of the world's largest emerald mines, located in
South Africa. The Company is committed to sustainable and efficient mining
practices, utilizing modern technology to revive this historically significant
emerald mine.  The Company has also acquired the Curlew Emerald Mine in
Australia, further expanding its emerald mining operations and assets.

 

For more information about Gem Resources Plc, including investor relations and
corporate news, please visit our website at www.gemresources.co.uk
(http://www.gemresources.co.uk) . Interested parties are also invited to
sign-up for our newsletter via our website.

 

 

 

 

 

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