Gemfields Group Ltd - London-headquartered gemstones supplier - Generates $4.2 million in revenue from auction of predominantly corundum, commercial-quality sapphire and low-quality ruby held last week. The gemstones were extracted by Montepuez Ruby Mining Ltda in Mozambique, which is 75% owned by Gemfields and 25% by Mwiriti Ltda.
‘The buoyant conditions prevailing in the coloured gemstone market made this an excellent time to sell several years of accumulated MRM commercial-quality inventory. We thank and congratulate the government of Mozambique and our partners at Mwiriti - both of whom attended the auction - on what are very healthy results for material of this quality,’ said Adrian Banks, Gemfields’ managing director of product & sales.
London stock price: 18.80 pence
12-month change: up 20%
Johannesburg stock price: R 3.80
12-month change: up 25%
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