Category: Gemstones

Gemfields Achieves $60M in H1 Auction Revenue, Set to Launch New Ruby Plant in Mozambique Gemfields, the AIM-listed gemstone producer, has announced total auction revenues of $60 million for the six months ended June 30, 2025. As of June 30, the company reported a net debt position of $59.6 million, prior to factoring in $16.1 million in auction receivables. This figure includes proceeds from a fully underwritten $30 million rights issue completed on June 13, which involved the issuance of 556.2 million new shares. Significant operational progress is also underway.… Read More Here

Gemfields has announced a delay in the final completion of the second processing plant (PP2) at its Montepuez Ruby Mine (MRM) in Mozambique. The facility, designed to triple the mine’s ore processing capacity from 200 to 600 tonnes per hour, is now expected to be fully completed by September. Although construction is 95% complete and remains largely on budget, certain critical components—specifically the tailings belt conveyor and decanter centrifuge—are still unfinished. Despite this, Gemfields anticipates that PP2 will begin producing rubies in August using its core systems. The delay has… Read More Here

Gemstone mining company Gemfields has successfully concluded a fully underwritten rights issue, originally announced on April 11. The offering resulted in the issuance of approximately 556 million new ordinary shares, raising around $30 million in capital for the company. Gemfields reported that it received valid acceptances for about 458 million of the new shares, representing roughly 82.4% of the total shares offered. The remaining 98 million shares will be taken up by the underwriters of the rights issue. Assore International Holdings will subscribe to approximately 64 million shares, while Rational… Read More Here

Johannesburg- and London-listed Gemfields has announced plans to raise approximately $30-million through a fully committed and underwritten rights issue, subject to shareholder approval. The company intends to issue 556.2-million new shares, marking a crucial step to strengthen its short-term financial position amid challenging market conditions. CEO Sean Gilbertson explained that Gemfields had explored external financing options for its wholly owned luxury jewellery brand Fabergé to mitigate an anticipated working capital shortfall. However, these efforts failed to secure timely funding. As a result, the board has recommended proceeding with the rights… Read More Here