goldminer70
23 Nov 2015
RNS ~ Results Jaipur Auction Gemfields plc("Gemfields" or "the Company"
Results - Jaipur Emerald Auctions23 November 2015Gemfields plc (AIM: GEM) is pleased to announce the results of its auction of predominantly lower quality rough emerald extracted by Kagem Mining Ltd (which is 75% owned by Gemfields and 25% by the Government of the Republic of Zambia) in Zambia.The auction was held in Jaipur, India from 18 - 21 November 2015 and the proceeds of this auction will be fully repatriated to Kagem Mining Ltd in Zambia, and with all royalties due to the Government of the Republic of Zambia being paid on the full sales price achieved at the auction.HighlightsThe Kagem Auction· Record auction revenues for lower quality auctions of USD 19.2 million;· New record of USD 4.32 per carat for lower quality auctions;· Highest number of companies placing bids (since Jaipur auction of March 2011);· Of the 5.07 million carats offered for sale, 4.45 million carats were sold (88%); and· 20 Kagem auctions held since July 2009 have generated USD 379 million in total revenues.The Kagem Emerald AuctionA total of 29 companies placed bids in Gemfields' second auction of Kagem production in the current financial year. The auction marked the first auction of predominantly lower quality rough emerald outside Zambia since June 2012.The auction saw 5.07 million carats of lower quality emerald extracted from Kagem placed on offer, with 18 of the 23 lots offered being sold, generating auction revenues of USD 19.2 million. The auction realised an overall average value of USD 4.32 per carat, a new record for lower quality auctions.Goldminer70
HPC Follower
29 Oct 2015
Re: Keeps falling Well, 45p has been reached but I'm not sure that this will be the low point given the unprofitability of the Faberge part of the business and the very large size of the "good will" payment by GEM to buy the company.Personally, I will wait a few more weeks, possibly months, before I consider topping up here and have a price target of 34p.Whilst I expect gold to be bought as an investment (hedge against cash) and as wedding rings, and diamonds as engagement rings plus investment (the larger & coloured stones), I can see no driver for sales of rubies or emeralds to increase - and can see supply from GEM outstripping actual demand over the next few years; and difficulty in reducing costs as "economy-of-scale" benefits drop should production be slowed down.
satanclause
27 Oct 2015
Re: Keeps falling might top up if it get near 45
Ripley94
26 Oct 2015
Keeps falling Topped again.
Ripley94
24 Oct 2015
Re: sliced a few topped.
goldminer70
07 Oct 2015
Re: Results RNS My initial reaction to todays figures was very disappointing.The interim figures for the half year showed a net profit after tax of US$23.2 on a turnover of US$103.4I expected this to be at least repeated in the second half. But the final figures for the full year showed a net profit after tax of US$12.3 on a turnover of US$171.4So Gemfields either had a disastrous second half or the interim figures were wrong. I think it was the interim figures which were grossly exaggerated, which doesn't speak well for the management.I still think this is a good mining company. There are some very encouraging things in the report, but it is not the fantastic mining company I thought a week ago Goldminer70
goldminer70
07 Oct 2015
Re: Results RNS Results ~ Very disappointingGoldminer70
loadsadough
07 Oct 2015
Results RNS Final audited results for the year to 30 June 2015RNSRNS Number : 4570BGemfields PLC07 October 2015 Gemfields plc ("Gemfields" or the "Company" or the "Group" (AIM: GEM) Final audited results for the year ended 30 June 2015 7 October 2015 Financial Highlights · Revenue of US$171.4 million (2014: US$160.1 million);· EBITDA(a) of US$64.4 million (2014: US$59.3 million);· Profit after tax of US$12.3 million (2014: US$16.3 million);· Cash at bank of US$28.0 million as at 30 June 2015 (2014: US$36.8 million); and· Estimated cost of inventory on hand, excluding fuel and other consumables, of US$101.1 million (2014: US$86.3 million).a) EBITDA - Earnings before interest, tax, depreciation, amortisation and impairment. Operational Highlights Emeralds:· Production summary for 75% owned Kagem Mining Limited ("Kagem", Zambia, for the year
Annual production of 30.1 million carats of emerald and beryl (2014: 20.2 million carats);o Average grade of 242 carats per tonne, inclusive of ore from bulk sampling pits (2014: 253 carats per tonne); ando Decrease in unit operating costs from US$1.58(b) per carat to US$1.48 per carat.· In May 2015, Gemfields' commendable safety track record was once again recognised by the Mines Safety Department of Zambia who awarded Kagem with a safety certificate recognising 3.5 million reportable injury free shifts. Lost Time Injury Frequency ("LTIF" of zero.· In September 2015, a Competent Persons Report ("CPR" was issued by SRK Consulting (UK) Limited ("SRK" and included an updated Joint Ore Reserves Committee ("JORC" (2012) Resource and Reserve estimate and accompanying statements projecting a 25 year Life of Mine ("LoM" open pit operation producing (on a 100% attributable basis) Measured, Indicated and Inferred Mineral Resource of 1.8 billion carats of emerald and beryl at an in-situ grade of 281 carats per tonne;o Proven and Probable Ore Reserves of 1.1 billion carats of emerald and beryl at a diluted ore grade of 291 carats per tonne; ando A Net Present Value ("NPV" of US$520 million (based on a 10% discount rate). Rubies:· Production summary for 75% owned Montepuez Ruby Mining Limitada ("Montepuez", Mozambique, for the year Annual production of 8.4 million carats of ruby and corundum (2014: 6.5 million carats), increase in processed volumes primarily due to continued upgrades to the wash plant design; ando Grade of 26 carats per tonne (2014: 41 carats per tonne); ando Increase in unit operating costs from US$1.12 per carat to US$2.57 per carat, with the reduced grade and increased unit costs being directly attributed to a greater proportion of lower grade but significantly higher quality alluvial deposit ore being processed during the year.· Maiden JORC Resource and Reserve Statement for Montepuez announced in July 2015 (on a 100% attributable basis) A total Indicated and Inferred Mineral Resource of 467 million carats;o Probable Ore Reserves of 432 million carats of ruby and corundum, giving a projected 21 year LoM; ando An NPV of US$996 million (based on a 10% discount rate). Fabergé:· The Fabergé Pearl Egg, the first egg created in the 'Imperial Class' since 1917, was unveiled at the Doha Jewellery and Watches Expo in Qatar in late February 2015 and was sold within hours of unveiling.· Fabergé took part in the prestigious art, antique and design fair 'Masterpiece London' for the first time this year. The event took place from 25 June until 1 July 2015 at the Royal Hospital Chelsea. The three principal product categories: jewellery, timepieces and objets d'art, were showcased alongside loose gemstones from the mines of Gemfields.· Fabergé launched four new timepiece collections at BaselWorld 2015 to great acclaim. The Fabergé Lady Peacock high complication watch and the 'Summer in Provence' high jewellery ladies wa
Zwaxxob
05 Oct 2015
SP Angel update c/o Proactive [link]
loadsadough
02 Oct 2015
Re: Final Results Notice of ResultsRNSRNS Number : 0107BGemfields PLC02 October 2015 Gemfields plc ("Gemfields" or the "Company" Its coming on Oct 7th GoldminerNotice of Final Results 2 October 2015 Gemfields plc (AIM: GEM), the world's single largest coloured gemstone mining and marketing company, will be reporting its final results for the year ending 30 June 2015 at 070 BST on Wednesday, 7 October 2015. The Company will be hosting a presentation for analysts at 110 BST. An audio webcast of the presentation will be streamed live at the same time. Further details of the presentation and the webcast will be available within the results announcement.Loadsadough
goldminer70
01 Oct 2015
Final Results It is a puzzle why the final results are late.Last year on the 8th September Gemfields announced that the results would be announced on the 22nd September. So they are nearly a month behind last years schedule.There is saying in the City "Late News is Bad News" on the other hand I believe they have made so much profit it is taking some time to count it.Goldminer70
goldminer70
14 Sep 2015
Re: Motley Fool For some reason I can't pick up a link.On the ADVFN board Rick has postedFrom the Motley Fool - apparently today"One mining stock that does appear to be worth buying right now is Gemfields (LSE:GEM). It has been a star performer in 2015, with its share price rising by 34% since the turn of the year. This is at least partly because of the company returning to profitability in 2014 and being forecast to increase its earnings by 37% in the current year, followed by further growth of 144% next year.This rate of growth is likely to continue to catalyse investor sentiment - especially since much of the mining sector is undergoing a period of financial decline at the present time. Furthermore, Gemfields continues to offer a relatively wide margin of safety despite its upbeat growth forecasts, with it trading on a price to earnings growth (PEG) ratio of just 0.1. This indicates that further share price gains are very much on the cards."I have posted the followingThanks Rick for posting that. Very good write up. The results were announced on Monday 22nd September last year. Lets hope the results for this year will be posted next Monday. The Interim Results, Market Update and all the auction results indicate bumper results.
rick43
14 Sep 2015
Motley Fool Click on the news tab above to see what Motley has to say - its a buy...
loadsadough
10 Sep 2015
Re: Columbia Hello G.It Would be nice to wait for the GEM to come good. It seems to make it sooner or later, I just invest and wait. It has a good long time chart.Loadsadough
goldminer70
10 Sep 2015
Columbia Gemfields plc (“Gemfields” or the “Company”Acquisition of controlling interests in two emerald projects in Colombia10 September 2015Gemfields plc (AIM: GEM),the world’s largest producer of coloured gemstones,is pleased to announce that it has entered into binding agreements to acquire controlling interests in two emerald projectswith operations and prospects located predominantly in the Boyacá state in Colombia.Great News in todays RNS that Gemfields are diversifing into Columbia. for full details go to Gemfields website.Onwards and Upwards to end of year figures later this monthGoldminer 70
