REG - Gemfields Group Ltd - Auction Results: Commercial-Quality Emeralds

GemfieldsAnnouncement

Wed 07:00

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RNS Number : 7207G  Gemfields Group Limited  30 April 2025

Incorporated in Guernsey. Guernsey registration number: 47656

South African external company registration number: 2009/012636/10

Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM

ISIN: GG00BG0KTL52   |   LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Group" or the "Company")

 

Auction Results: Commercial-Quality Emeralds

LONDON, 30 APRIL 2025

Gemfields announces the results of an auction comprised of commercial-quality
rough emeralds held during the period 11 - 29 April 2025.

Highlights: April 2025 Commercial-Quality Emerald Auction

·    Total auction revenues of USD 16.4 million

·    36 lots were offered for sale, of which 32 were sold (89%)

·    Average price of USD 6.87 per carat

·    The 51 auctions of Kagem gemstones held since July 2009 have
generated USD 1,090 million in total revenues

The specific auction mix and the quality of the lots offered at each auction
vary in characteristics such as size, colour and clarity on account of
variations in mined production and market demand. Therefore, the results of
each auction are not always directly comparable.

Adrian Banks, Gemfields' Managing Director of Product & Sales, commented:

"Today's result marks a notable improvement on the disappointing
commercial-quality auction held in September 2024. An increased number of bids
and stronger prices across a broad quality-range point to improved sentiment
and demand since our experience in Q3 2024.

The overall USD per carat realisation has been positively skewed by the
withdrawal of a schedule comprising very low-quality material, weighing
112,000 grams and representing 18.5% of the total weight offering.

We extend our appreciation to the Kagem team and to the Government of the
Republic of Zambia, Kagem's 25% shareholder."

The auction lots were made available for private, in-person viewings by
customers in Jaipur. Following the viewings, the auctions took place via an
online auction platform specifically adapted for Gemfields and which permitted
customers from multiple jurisdictions to participate in a sealed-bid process.

The rough emeralds sold were extracted by Kagem (which is 75% owned by
Gemfields and 25% by the Industrial Development Corporation of Zambia). The
proceeds of this auction will be fully repatriated to Kagem in Zambia with all
royalties due to the Government of the Republic of Zambia being paid on the
full sales prices achieved at the auction.

The results of the five most recent commercial-quality Kagem auctions are
summarised in the table below (and earlier results are available at
www.gemfieldsgroup.com (http://www.gemfieldsgroup.com) ):

 

 AUCTION RESULTS (COMMERCIAL QUALITY)  Mar '23 Auction             Aug-Sep '23 Auction         Mar '24                     Aug-Sep '24             Apr '25

                                                                                               Auction                     Auction                 Auction
 Dates                                 6 - 24 Mar 2023             29 Aug - 15 Sept 2023       5 - 22 Mar 2024             27 Aug - 13 Sep 2024    11 - 29 Apr 2025
 Location                              Jaipur, India   / Online    Jaipur, India   / Online    Jaipur, India   / Online    Jaipur, India / Online  Jaipur, India / Online
 Type                                  Commercial Quality          Commercial Quality          Commercial Quality          Commercial Quality      Commercial Quality
 Carats offered                        3,148,710                   3,392,395                   4,171,375                   3,978,450               3,029,690
 Carats sold                           2,974,710                   3,392,395                   3,854,950                   2,423,550               2,388,190
 No. of companies placing bids         45                          50                          50                          39                      50
 No. of lots offered                   29                          43                          43                          46                      36
 No. of lots sold                      25                          43                          40                          28                      32
 Percentage of lots sold               86%                         100%                        93%                         61%                     89%
 Percentage of lots sold by weight     94%                         100%                        92%                         61%                     79%
 Total sales realised at auction       USD 21.2                    USD 25.5                    USD 17.1 million            USD 10.8                USD 16.4

                                       million                     million                                                 million                 million
 Average per carat sales value         USD                         USD                         USD 4.45/carat              USD                     USD

                                       7.13/carat                  7.51/carat                                              4.47/carat              6.87/carat

 

 

-ENDS-

 

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM (http://WWW.GEMFIELDSGROUP.COM)

 

To join our investor mailing list, please contact us on:
ir@gemfields.com (mailto:ir@gemfields.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK
law pursuant to the European Union (withdrawal) act 2018 ("MAR").

 

ENQUIRIES

 

 GEMFIELDS                                      Sean Gilbertson / David Lovett / Ian Hughes

                                                ir@gemfields.com (mailto:ir@gemfields.com)

T:  +44(0) 20 7518 3400
 SPONSOR (JSE)                                  Investec Bank Limited
 NOMINATED ADVISER                              Panmure Liberum

(AIM) & BROKER
Scott Mathieson / Amrit Mahbubani / John More
                                                T: +44(0) 20 3100 2222
 PRESS ENQUIRES, GEMFIELDS HEAD OFFICE, LONDON  Helena Choudhury / Albertina Namburete

                                                helena.choudhury@gemfields.com (mailto:helena.choudhury@gemfields.com) /
                                                albertina.namburete@gemfields.com (mailto:albertina.namburete@gemfields.com)

 ADDITIONAL INFORMATION ON GEMFIELDS

 Gemfields is a world-leading responsible miner and marketer of coloured
 gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald
 mine in Zambia (believed to be the world's single largest producing emerald
 mine) and the Montepuez ruby mine in Mozambique (one of the most significant
 recently discovered ruby deposits in the world). In addition, Gemfields also
 holds controlling interests in various other gemstone mining and prospecting
 licences in Zambia, Mozambique, Ethiopia and Madagascar.

 Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of
 exceptional heritage - enables Gemfields to optimise positioning, perception
 and consumer awareness of coloured gemstones through Fabergé designs,
 advancing the wider group's "mine and market" vision.

 Gemfields has developed a proprietary grading system and a pioneering auction
 platform to provide a consistent supply of coloured gemstones to downstream
 markets, a key component of Gemfields' business model that has played an
 important role in the growth of the global coloured gemstone sector.

 

 

GEMFIELDS

GEMFIELDS.COM (https://gemfields.com/) (https://gemfields.com/) | INVESTORS
(https://www.gemfieldsgroup.com/) (https://www.gemfieldsgroup.com/)
|FOUNDATION (https://www.gemfieldsfoundation.org/)

INSTAGRAM (https://www.instagram.com/gemfields/)
(https://www.instagram.com/gemfields/) | FACEBOOK
(https://www.facebook.com/Gemfields/) (https://www.facebook.com/Gemfields/) |
X (https://x.com/GemfieldsLtd?lang=en) | YOUTUBE
(https://www.youtube.com/channel/UCArCE0JFtakTP-tHq6v0KVg)

 

FABERGÉ

FABERGÉ.COM (https://www.faberge.com/) | INSTAGRAM
(https://www.instagram.com/officialfaberge/)
(https://www.instagram.com/officialfaberge/) | FACEBOOK
(https://www.facebook.com/OfficialFaberge)
(https://www.facebook.com/OfficialFaberge) | X (https://x.com/OfficialFaberge)
(https://x.com/OfficialFaberge) | YOUTUBE
(https://www.youtube.com/user/officialfaberge)

 

KAGEM MINING LIMITED LINKEDIN
(https://www.linkedin.com/company/kagem-mining-ltd)

MONTEPUEZ RUBY MINING LINKEDIN
(https://www.linkedin.com/company/montepuez-ruby-mining)

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