goldminer70
15 Jan 2015
After a few small rises this year from 46 there was a couple of buys today within 2 minute of 800,000 shares giving nice rise to 51p giving 11% rise in half a month.No sign of a reason, lets hope it doesn't fall backGoldminer70
Cwmgwrach
02 Jan 2015
Re: *Big* ruby find Strange that they're being coy about the price that it fetched. Will we have try to infer it from the final results? Any gem experts out there?
Cwmgwrach
02 Jan 2015
Re: Zambian Royalty Rates Found this on Bloomberg ([link] proposed tripling of mineral royalties for open-pit mines may provide a financial incentive for Gemfields Plc (GEM) to quicken development of underground mining at the world’s biggest emerald operation.“It does give a financial incentive to accelerate underground development,” Sean Gilbertson, director at the company, said in an interview today in Lusaka, the capital.Finance Minister Alexander Chikwanda last month proposed to do away with corporate income tax for mining companies in the world’s third-largest emerald producer in favor of higher royalties. Under the plans that are meant to increase transparency and boost government revenue, royalties rise to 20 percent from 6 percent for open-pit operations and to 8 percent for underground mines.Gemfields’s Kagem operation, located in Zambia’s Copperbelt province, mainly produces the green stones from an open pit. The company has been conducting trial underground mining for three to four years, Gilbertson said.The proposed changes to the tax system won’t have “a very big impact” on the company’s fiscal payments, with preliminary estimates showing them to be neutral, he said. Gemfields, which derives most of its revenue from Kagem, had $20 million in total tax expenses and net income of $16.3 million for the year ended June 30. ---------- ---------- ---------- -------It was a shock to see they are wacking up the royalties from 6 to 20 per cent. However this seems to be replacing a corporate income tax. From the director's comments the net effect is minimal (if he isn't stretching the truth). I haven't investigated any more deeply than this.
oilovlam
01 Jan 2015
Zambian Royalty Rates The Times reported on 31/12/2014 that the Zambian government is increasing royalty rates for open cast miners from 6% to 20%. Underground miners the rate goes to 8%. Starts 1st January.I don't know how that impacts Gemfields.
goldminer70
14 Dec 2014
Gemfields Auction Gemfields have just posted (or I have only just seen) the results of the auction held 3rd to 8th Dec 2014Go to the G|emfields website to read the full reportGoldminer70Gemfields plc (AIM: GEM) is pleased to announce the results of its auction of predominantly higher quality rough ruby extracted by Montepuez Ruby Mining Limitada (in which Gemfields has a 75% interest) from the Montepuez ruby deposit in Mozambique. The auction was held in Singapore from 3 to 8 December 2014 and marked Gemfields’ second auction of rough ruby.Highlights Auction revenues of USD 43.3 million, the highest ever achieved at any Gemfields auction; Average realised price of USD 689 per carat, the highest ever achieved at any Gemfields auction; 62,936 carats sold (74%) out of the total of 85,491 carats offered; and The two Montepuez auctions held since June 2014 have generated USD 76.8 million in aggregaterevenues.
Aurelius
05 Dec 2014
I just gave GEM a BUY rating: Ruby auction likely to produce very high $ proceeds leading to EPS upgrades and higher price targets from brokers.. Will I be right? [link]
walrog
26 Nov 2014
Re: *Big* ruby find The story is covered in the Times today.
K3nnyM
25 Nov 2014
*Big* ruby find you may not have seen this ... hasn't come through on the news feed:[link] awesome & bodes very well for the ruby auction.
