REG - Gemfields Group Ltd Gemfields Group GEMN Gemfields Group GEMF - Auction Results - Mixed-Quality Rubies

GemfieldsAnnouncement

16/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250616:nRSP9574Ma&default-theme=true

RNS Number : 9574M  Gemfields Group Limited  16 June 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: Mixed-Quality Rubies

LONDON, 16 JUNE 2025

Gemfields announces the results of an auction comprised of mixed-quality rough
ruby held during the period 2 - 13 June 2025.

Highlights - Mixed-Quality Ruby Auction - June 2025

•     Total auction revenues of USD 31.7 million.

•     78 of the 90 lots offered for sale were sold (87%).

•     99,830 carats were offered for sale with 68,705 carats sold (69%).

•     Average sales price of USD 461.48 per carat.

•     The auction included rubies from a newer area of MRM which
previously hasn't been represented at auction in meaningful quantities,
including a notable 36-carat ruby (pictured below) which sold well, becoming
the third-most-valuable single-gemstone lot in MRM's history.

•     This auction follows a mini-auction of predominantly small-sized
gemstones held in April 2025 that achieved auction revenues of USD 7.2 million
and which would normally have been included in the June auction.

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

"While this was our smallest mixed-quality ruby offering by weight to date,
and there is clearly ongoing instability in the market stemming from, inter
alia, ongoing geo-political turbulence, China's economic difficulties and
considerable tariff uncertainty, today's auction result demonstrated the
resilience of rubies in turbulent times.

Demand and pricing for fine-quality rubies remain strong. Notably, the
secondary-type rubies recently recovered from a newer section of the mine,
exhibiting different characteristics, were generally well received by auction
customers.

The 36-carat, fine-quality ruby recovered from this newer section of the mine
attracted strong interest from all auction customers and achieved a highly
pleasing sale price.

This is a particularly promising development as Montepuez Ruby Mining ("MRM")
advances towards the completion of Processing Plant 2 ("PP2"), enhancing its
ability to deliver a consistent and diversified supply of Mozambican rubies to
meet the evolving demands of the market.

It should be noted that the overall average USD per carat price was skewed by
a combination of the sale in April 2025 of some predominantly small-sized
rubies which would typically be included in the June auction and a number of
higher weight, lower quality lots that remained unsold."

The gemstones were extracted in Mozambique by Montepuez Ruby Mining Limitada
("MRM") which is 75% owned by Gemfields and 25% by Mwiriti Limitada. The
proceeds of this auction will be fully repatriated to MRM in Mozambique, with
all royalties due to the Government of the Republic of Mozambique being paid
on the full sales prices achieved at the auction.

The auction lots were made available in Bangkok for private, in-person
viewings by customers. 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 results of the five most recent Mixed-Quality MRM ruby auctions are
summarised in the table below (and earlier results are available at
www.gemfieldsgroup.com (http://www.gemfieldsgroup.com) ):

 

 AUCTION RESULTS (MIXED QUALITY)    Jun '23 AUCTION                                                  Dec '23 AUCTION                                                           Jun '24 AUCTION                                                           Dec '24 AUCTION                                                           Jun '25 AUCTION

                                    (7 sequential mini-auctions)                                     (7 sequential mini-auctions)                                              (7 sequential mini-auctions)                                              (7 sequential mini-auctions)                                              (6 sequential mini-auctions)
 Dates                              5 - 20 Jun 2023                                                  20 Nov -                                                                  3 - 18 Jun 2024                                                           25 Nov - 11 Dec 2024                                                      2 - 13 Jun 2025

                                                                                                     5 Dec 2023
 Location                           Bangkok / Online                                                 Bangkok / Online                                                          Bangkok / Online                                                          Bangkok / Online                                                          Bangkok / Online
 Type                               Rough Ruby (Higher, Medium and Commercial Quality), no Corundum  Rough Ruby (Higher, Medium and Commercial Quality), no 'Low Ruby' (1) or  Rough Ruby (Higher, Medium and Commercial Quality), no 'Low Ruby' (1) or  Rough Ruby (Higher, Medium and Commercial Quality), no 'Low Ruby' (1) or  Rough Ruby (Higher, Medium and Commercial Quality), no 'Low Ruby' (1) or
                                                                                                     Corundum                                                                  Corundum                                                                  Corundum                                                                  Corundum
 Carats offered                     446,202                                                          239,591                                                                   217,044                                                                   167,865                                                                   99,830
 Carats sold                        302,317                                                          239,591                                                                   216,600                                                                   143,613                                                                   68,705
 No. of companies placing bids      51                                                               53                                                                        52                                                                        46                                                                        47
 No. of lots offered                94                                                               97                                                                        97                                                                        102                                                                       90
 No. of lots sold                   91                                                               97                                                                        94                                                                        97                                                                        78
 Percentage of lots sold            97%                                                              100%                                                                      97%                                                                       95%                                                                       86.7%
 Percentage of lots sold by weight  68% (2)                                                          100%                                                                      99.8%                                                                     86%                                                                       68.8%
 Total sales realised at auction    USD 80.4                                                         USD 69.5                                                                  USD 68.7                                                                  USD 46.2                                                                  USD 31.7

                                    million                                                          million                                                                   million                                                                   Million                                                                   Million
 Average per carat sales value      USD                                                              USD                                                                       USD                                                                       USD                                                                       USD

265.99/carat
290.02/carat
316.95/carat
321.94/carat
461.48/carat

 

1 - The 'Low Ruby' category was not offered at the December 2023, June 2024,
December 2024 or June 2025 auctions.

2 - One lot of 26,806 grams (representing some 30% of the total weight
offered) remained unsold at the June 2023 auction. As a result, the average
price per carat realised at this auction was considerably higher than it would
have been had this lot also been sold. These gems were then sold at the
September 2023 commercial quality ruby auction.

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.

 

-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)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDGZGMVGVGGKZG