Gemfields - Re: GEM Stream Log - "Gemfields reports record revenues of...

"Gemfields reports record revenues of US$44.3m from its final auction of rubies to be held this financial year. As with all but one of the previous six auctions of rubies from the company’s Montepuez mine in Mozambique, the auction was held in Singapore. The company offered 75 lots totalling some 1.6m carats for sale and sold a total of 1.52m carats (71 lots) realising an average price of US$296.21/carat. This means that the sales comprised 95% of both the number of lots offered and also the total carats offered for sale, which compares favourably with previous auctions uptakes have been within a range of 66% to 98% by weight... Gemfields is developing the market for coloured gemstones with the introduction of a reliable supply of rough gemstones and a consistent grading system for quality which helps to provide customers with a level of assurance in managing the manufacturing pipeline." SP Angel note out this morning on research tree