Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months ended 30 June 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.
According to the key takeaways, Strong auction revenues and pricing continue, including the highest ever revenue earned from a Kagem emerald auction in June 2023. Total auction revenues of USD 145 million, the third highest half-year in Gemfields’ history.
Net cash of USD 62 million plus auction receivables of USD 64 million as at 30 June 2023. A strong position after paying a USD 35 million dividend to shareholders in May 2023
The full operational results can be found on the Company’s website at www.gemfieldsgroup.com. An excel spreadsheet of all of Gemfields’ historic operational results is now also available as an easier form to access the data. Commentary on the operational performance and full financial results will be available in Gemfields’ Interim Results due to be published in September 2023.
Shareholders are advised that all figures are unaudited for which the directors assume full responsibility. Gemfields has developed a proprietary grading system and a pioneering auction and trading 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.
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