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Gemfields Group ( (PLLHF) ) has issued an announcement.
Gemfields announced the successful results of a mini auction of Mozambican rough rubies from Montepuez Ruby Mining, held in Bangkok, Thailand. The auction generated revenues of USD 7.2 million, with 20 out of 21 lots sold, representing 72.8% of the 250,004 carats on offer. The auction, which featured both primary and secondary rubies, saw strong attendance and demand, affirming the state of the ruby market despite global tariff uncertainties. The proceeds will be repatriated to Mozambique, with royalties paid to the government, highlighting the company’s commitment to its local partnerships and market stability.
More about Gemfields Group
Gemfields is a leading responsible miner and marketer of colored gemstones, operating the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. It holds controlling interests in various gemstone mining licenses across Zambia, Mozambique, Ethiopia, and Madagascar. Gemfields also owns Fabergé, enhancing its market positioning and consumer awareness through iconic designs. The company has developed a proprietary grading system and auction platform to ensure a consistent supply of colored gemstones, contributing to the growth of the global gemstone sector.
YTD Price Performance: -37.14%
Average Trading Volume: 36,630
Technical Sentiment Signal: Buy
Current Market Cap: $68.55M
For an in-depth examination of PLLHF stock, go to TipRanks’ Stock Analysis page.