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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gemfields Group Limited | LSE:GEM | London | Ordinary Share | GG00BG0KTL52 | ORD USD0.00001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.25 | 6.00 | 6.50 | 6.25 | 6.25 | 6.25 | 20,636 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 262.02M | -10.09M | -0.0083 | -7.53 | 76.43M |
Hot Features
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Gemfields Resources plc
Gemfields exercises option to acquire Oriental Mining s.a.r.l.
8th September 2008
The Board of Gemfields Resources plc ("Gemfields" or "the Company", Ticker
"GEM") is pleased to announce that the Company has exercised its option to
acquire the entire issued share capital of Oriental Mining s.a.r.l., a company
incorporated in Madagascar ("Oriental"). Gemfields was granted the option by
Rox Limited ("Rox") pursuant to the agreement between Gemfields and Rox dated
18th December 2007.
Oriental has the rights to fifteen exploration licences covering emeralds,
rubies, sapphires, tourmalines and garnets in the Antananarivo, Fianarantsoa
and Toliara provinces of Madagascar. In addition, Oriental has the right to
five exploration licences that are pending approval from the Madagascan
Ministry of Energy and Mines.
Rajiv Gupta, founder and Executive Vice Chairman of Gemfields, said: "This is
an important step in expanding Gemfields' geographic footprint and gemstone
portfolio".
Gemfields CEO Sean Gilbertson said: "Madagascar is recognised as one of the
most exciting colour gemstone provinces in the world today, with several key
discoveries having been made there during the last decade. Madagascar recently
made world headlines after the disputed export of an exceedingly rare 536
kilogram emerald specimen, which was on display at the BaoQu Tang Modern Art
Gallery in Hong Kong until the 31st August 2008".
For more information: www.gemfields.co.uk
Richard James, CFO richard.james@gemfields.co.uk
Gemfields Resources plc Tel: +44 (0)20 7016 9416
Mike Jones/Tarica Mpinga +44 (0)20 7050 6500
Canaccord Adams Limited
Nomad and Joint Broker
Neil Passmore/Sam Critchlow +44 (0)20 7588 2828
JP Morgan Cazenove
Joint Broker
Charlie Geller/Ed Portman +44 (0)20 7429 6666/ +44 (0) 7528 233 383
Conduit PR
ABOUT GEMFIELDS:
Gemfields, the brainchild of Executive Vice Chairman Rajiv Gupta, is a leading
international coloured gemstone producer with assets in Zambia, Madagascar and
India. Gemfields seeks to become the leading source of premium coloured
gemstones through consolidation and vertical integration on an international
scale. Gemfields' key producing asset is the 75% owned Kagem emerald mine in
Zamia. Kagem is the largest non-diamond gemstone mine in the world.
In June 2008, Rox Limited (a portfolio company of Pallinghurst Resources)
acquired some 55% of Gemfields' issued share capital. Pallinghurst Resources is
chaired by Brian Gilbertson, the former CEO of BHP-Billiton plc.
In August 2008, Gemfields officially opened a wholly-owned cutting and
polishing facility in Jaipur India, marking a significant step in vertically
integrating the gemstone supply chain. Gemfields is presently uniquely
positioned to bring high grade, ethically produced, conflict-free emeralds of
certified provenance directly from the mine to the market on an integrated
basis.
END
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