REG - Gemfields Group Ltd - Operational Update up to 31 December 2023

GemfieldsAnnouncement

29/01/2024 08:00

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RNS Number : 1319B  Gemfields Group Limited  29 January 2024

Incorporated in Guernsey. Guernsey registration Number: 47656

South African external company registration number 2009/012636/10

Share code on JSE: GML / AIM: GEM

ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Company")

Operational Update up to 31 December 2023

LONDON, 29 JANUARY 2024

Gemfields shareholders are advised that the Company has released information
about its operational results and financial position for the six months ended
31 December 2023. These unaudited figures have been produced on a monthly
basis for Gemfields' 75%-owned Kagem emerald mine, its 75%-owned Montepuez
ruby mine and Fabergé, the iconic luxury brand. The full operational results
can be found on the Company's website at www.gemfieldsgroup.com
(http://www.gemfieldsgroup.com) .

 

Highlights

 

·    Strong auction revenues and pricing continue for both emeralds and
rubies

·    Total auction revenues of USD 242 million, the second highest year in
Gemfields' history despite the withdrawal of November 2023's auction of higher
quality emeralds

·    Kagem experienced a general improvement in both the quality and
quantity of premium emeralds recovered in recent months

·    Gemfields has passed the milestone of USD 2 billion in cumulative
emerald and ruby auction sales since its first auction in 2009, with more than
USD 400 million in taxes being paid to the governments of Mozambique and
Zambia

·    Net cash of USD 11.1 million (before auction receivables of USD 38.9
million) at 31 December 2023

·    USD 45 million returned to shareholders in 2023 by way of May 2023's
USD 35 million dividend and a USD 10 million share buyback completed in
October 2023

·    Next auctions planned: Commercial quality emerald auction in Q1 2024,
followed by a higher quality emerald auction and a mixed quality ruby auction
in Q2 2024

 

 

An Excel spreadsheet of all of Gemfields' historic operational results is also
available at  www.gemfieldsgroup.com/operational-update
(https://www.gemfieldsgroup.com/operational-update) . Commentary on the
operational performance and financial results will be available in Gemfields'
annual results due to be published in March 2024.

Shareholders are advised that all figures in this operational update are
unaudited, in respect of which the directors assume full responsibility.

 

 

-ENDS-

 

 

 

Further information on Gemfields Group Limited can be found at:

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

 

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

 

For any press enquiries please contact us on:
gemfields@camarco.co.uk (mailto:gemfields@camarco.co.uk)

 

 

 

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    Liberum

(AIM) & BROKER
Scott Mathieson / John More / Anake Singh
                      T: +44(0) 20 3100 2222
 FINANCIAL PR/ IR     Camarco
                      Gordon Poole / Emily Hall

T: +44(0) 20 3757 4980

 

 

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/) |
TWITTER (https://twitter.com/GemfieldsLtd?lang=en)
(https://twitter.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) | TWITTER
(https://twitter.com/OfficialFaberge) (https://twitter.com/OfficialFaberge) |
YOUTUBE (https://www.youtube.com/user/officialfaberge)

 

KAGEM MINING 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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