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GEM Gemfields Group Limited

-0.35 (-2.59%)
08 Dec 2023 - Closed
Delayed by 15 minutes
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 Shares Traded Last Trade
  -0.35 -2.59% 13.15 104,060 08:00:29
Bid Price Offer Price High Price Low Price Open Price
12.80 13.50 13.15 13.15 13.15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec USD 341.11M USD 56.78M USD 0.0464 2.59 146.75M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:27:11 O 15,000 13.00 GBX

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Date Time Title Posts
06/12/202315:33Gemfields Resources1,713
06/9/202214:43The future couldn`t look any brighter for Gemfields.-
10/10/201603:31Buying a stock like Gemfields(LSE: GEM) could be a shrewd move.110
21/10/201307:46Gemfields Resources Plc AIM:GEM162
06/7/201113:52Pele Mountain Resources14

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Posted at 10/12/2023 08:20 by Gemfields Daily Update
Gemfields Group Limited is listed in the Miscellaneous Metal Ores,nec sector of the London Stock Exchange with ticker GEM. The last closing price for Gemfields was 13.50p.
Gemfields currently has 1,222,918,104 shares in issue. The market capitalisation of Gemfields is £146,750,172.
Gemfields has a price to earnings ratio (PE ratio) of 2.59.
This morning GEM shares opened at 13.15p
Posted at 17/11/2023 09:20 by teacup
I put my trades out there to be shot down. Me investing here after being negative for so long is not something I do lightly. I even had psychological wager with Saracen that GGP would perform better than GEM over the year from July. At that time the GGP share price was half of GEM. As we stand GGP is 11.1p so GEM would need to be 22.2p to match it.

All that being said I think GEM was a good bet after buying in at 13.5p.

Sincero you aren’t an investor but prefer your child games.

Onwards and upwards from here for GEM. My plan is to be here for quite a while and build on my initial investment. So you are aware I tried to buy 60000, 50000 and 40000 and Interactive Investor would not give me a live price until 30000. I only take a live price as the price would have been higher than 13.5p otherwise.
Posted at 03/11/2023 21:44 by livingstone20
On digging around I was interested to find this on what Assore itself did in 2020. I sense something is going on! ‘Tight shareholding structure’ para has some parallels. Thoughts? It’s quite complex to understand how all the large shareholders relate to each other but less than 20 per cent with smaller shareholders.

10 Mar, 2020

Assore looks to buy out minority shareholders, delist from Johannesburg exchange

Author Fabian Diego Miguel III de la Paz
Theme Metals
Assore Ltd. said March 9 that it intends to make an offer to buy out minority shareholders in the company and delist its shares from the Johannesburg Stock Exchange.

The company has been listed in Johannesburg since 1950 and is involved in mining iron ore, manganese and chrome ores along with other industrial metals and manganese alloys.

Subject to shareholder approvals, Assore would pay minority shareholders that are collectively holding an approximately 17.4% stake in the company 320 South African rand per share, using Assore's available internal cash resources. The buyback is expected to cost the company about 7.8 billion rand.

Assore's assets include a 50% stake in Assmang Pty. Ltd., a 31% stake in IronRidge Resources Ltd., and full ownership in the Dwarsrivier chrome mine and Wonderstone Ltd.

Assmang owns a 54.4% stake in Sakura Ferroalloys SDN BHD, a manganese alloy producer in Malaysia.

Assore said the per-share price represents an 80% premium to the closing price on the last trading day prior to the announcement, a 51% premium to the 30-day volume-weighted average price, and a 36% premium to the 60-day volume-weighted average price.

Assore is majority-owned by Sacco family-controlled Oresteel Investments Pty. Ltd. with a 52.4% stake; black economic empowerment shareholders own a 26.1% stake, and various members of the Sacco family own a 4.1% stake, altogether accounting for 82.6% of the company's shares.

The tight shareholding structure, combined with low share liquidity, led to Assore's majority owners and board reaching a consensus to delist the company as its listing in Johannesburg provided little benefit to its strategic shareholders.

The implementation of the offer needs to occur by May 7, after the company secures all necessary approvals or waivers, including from shareholders and South African regulatory authorities.

Minority shareholders controlling about 9.37% of the company agreed to accept the offer. A general shareholder meeting is scheduled on or around April 16.

If the deal closes successfully, the stakes held by Oresteel, the black economic empowerment shareholders and the Sacco family in Assore will be increased pro rata to 63.4%, 31.6% and 5%, respectively, miningmx reported March 9.
Posted at 01/11/2023 10:06 by jaka
9Mozambique misses ruby production target with drop of almost 40% this yearOctober 30, 2023 Steven AddamahThe Mozambican Government admits that the country will miss its target for ruby production this year, which is expected to fall by almost 40% compared to 2022, when it was 4.4 million carats of the precious stone.According to a report by the Ministry of Economy and Finance on budget execution for the first half of the year, the available production data, concentrated in three companies, shows that "the planned production for 2023 will not be achieved, with a decrease of around 38.83% expected".This decline is explained in the document by "the existence of around two tons (11,275,435 carats) of stock" of rubies by Montepuez Ruby Mining, which is the largest producer, and by the fact that the deposits in the areas concessioned to the Fura Gems and Gem Rock groups "are not of high mining potential and are also not powerful"."For 2024, growth of 3% is expected compared to what was projected by the end of 2023," adds the report, in a forecast that if confirmed will represent production of more than three million carats next year.The Montepuez project alone, in Cabo Delgado province, consists of four licenses covering 19,300 hectares next to the world's largest ruby deposit, discovered by the multinational Gemfields in 2012.Rubies are among the rarest and most valuable gemstones in the world, with Mozambique becoming one of the largest producers in recent years. A 55.22-carat ruby discovered in 2022 – weighing 101 carats in its original form – by Fura Gems in one of its mines in Mozambique this year became the largest and most valuable jewel of its kind ever sold at auction, after being worked, fetching 34.8 million dollars in New York.Https://
Posted at 28/9/2023 05:51 by 1realist
Pleased to see share buyback being implemented a bit more at these levels. Looks like another 1.2m shares bought yesterday as well. If they complete their $10m allocation at these levels then that would take another 4% of company shares off the market (making around 5% in total). I'd then hope to see more allocation requested at the next AGM as well. I don't mind skipping this dividend for more company, share price and dividend growth in the future, especially when new wash plant becomes operational. Still looks like a very good medium and longterm investment to me.
Posted at 22/9/2023 07:00 by saracen3
Liberum explains and confirms 26p target

Gemfields (BUY, TP 26p) Results inline, dividend paused - Gemfields financial results were inline with recent guidance and the company have elected not to pay an interim dividend due to the poor run in quality and quantity of high quality emeralds from the Kagem mine (November auction has been cancelled) and the lift in capex for the second processing plant Montepuez Ruby mine. The company have every intention of restarting the dividend at the full year results and with net cash of $61.8m we see it as highly likely . The weakness in Kagem's production has largely been attributed to vagaries in the ore body, which have had particularly bad start to the half in July and August. The first half was also weaker than historic levels, but this was affected by a key product point in the Chama pit being underwater for a longer period of 2023 than previous years.

Given how pent-up demand really drove up pricing post covid, you could see this helping them on emeralds at their next auction, although NB their market share isn’t as dominant here than it is in rubies (maybe 25% vs 50% for rubies)

2.0x FY24e EV/EBITDA and 24% op FCF yield (ie. pre the growth capex at Montepuez)
Posted at 31/7/2023 08:53 by 1realist
Yes, I agree, share price absurdly low at current levels. Gemstone market outperforming others with continued strong demand at auctions.Highly profitable mines.Faberge continuing to grow.Net cash over 50% of market cap.Share buyback scheme in operation.20% dividend return.Would still be cheap at double the share price.
Posted at 31/7/2023 07:22 by saracen3
Half year cash position of £100m equals over 8p per share, half the market cap,

so the 2 mines which produce revenue of £260m, Faberge and the stake in Selibolo Platinum are valued at less than £100m or 8p per share.

Co bought back 1m shares at 345c, 15.2p, on Friday so that is a floor for the share price, I believe the other line of stock was bought by Armira Capital, a London fund.

First half production of premium rubies and emeralds was in line and Faberge sales were satisfactory.

Weak diamond prices and softening luxury goods sales worldwide has seen the shares drift back but coloured gemstone prices are at near record levels.

Conclusion, the strong cash position will lead to further big dividends and the share price is absurdly cheap.
Posted at 05/6/2023 05:47 by 1realist
2022 dividend totalled 3.42p (22% of current share price).Fuel prices have dropped significantly since then with resultant reduction in mining costs, so if they continue to match or better 2022 revenues like they are then 2023 margins, profits and dividend should all be even higher than last year.Share price is all wrong at current levels. Should be a lot higher.
Posted at 24/3/2023 07:52 by rolo7
As Gemfields’ share price has remained strong since the approval was received, the hurdle rate?? set by management and recommended by shareholders has not been
reached. If shares are not purchased by the time of the next AGM,
scheduled for the end of June, the Board will review the process and
consider the most suitable usage of the USD10 million capital
allocated to the buy-back.
so the board thinks the share price is to high and just planned to use buyback to stop share price falling?
Posted at 08/1/2023 17:33 by saracen3
Add some sparkle with emeralds
Gold is a unique asset, prized for its lustre, beauty and value.
Coloured gemstones are rather different, but also in demand. Rising prices and growing awareness are good news for Gemfields, which owns the largest ruby and emerald mines in the world, as well as the luxury Fabergé brand.
The company has a tangled history. Listed on the stock market until 2017, the group was taken private by a specialised investment firm, leaving many ordinary shareholders feeling disgruntled and short-changed.
Gemfields relisted in February 2020, just before Covid-19 virtually closed the market for coloured gems.
The shares have rebounded from pandemic-induced lows, the price is 18.5p and chief executive Sean Gilbertson is optimistic.
The son of mining veteran Brian Gilbertson, Sean has mining in his blood. And he is keen to make a mark.


Luxury: Ruby and emerald miner Gemfields also owns the Fabergé brand, which is famous for its decorative eggs
Gemfields owns an emerald mine in Zambia and a ruby mine in Mozambique, but it sells rough stones at auction too. Four emerald auctions delivered record revenues of $149 million (£125million) in 2022, a 62 per cent increase over 2021. Three ruby auctions generated record revenues too – $167million, compared with $147million the previous year.
The Fabergé business helps put coloured gems front of mind among wealthy consumers and a 007 Fabergé egg is expected this year, commemorating 60 years of James Bond films. Gemfields has not been helped by civil unrest in Mozambique, which put expansion plans there on hold.
Nonetheless, its balance sheet is strong and Gilbertson is a dividend enthusiast, with 2.6p expected for this year, putting the stock on an extraordinary yield of almost 14 per cent. Brokers forecast a payment of at least 2p for the current year, rising to 2.4p in 2024, making Gemfields one of the very few firms offering inflation-busting income.
Traded on: AIM Ticker: GEM Contact: or 020 7518 3400.
MIDAS VERDICT: With a volatile history and an uncertain future, Gemfields is not for the cautious.
But adventurous investors – or those with a penchant for precious stones – may fancy a punt at 18.5p. And the fat dividend adds extra sparkle.
Gemfields share price data is direct from the London Stock Exchange

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