Gemfields Announces Financial Results and Proposed Rights Issue

Gemfields Group ( (PLLHF) ) just unveiled an update.

Gemfields Group Limited announced its financial results for the year ended December 31, 2024, revealing a significant increase in loss per share compared to the previous year. The company also plans a fully underwritten rights issue to raise approximately USD 30 million, subject to shareholder approval, with its two largest shareholders pre-funding the initiative to provide immediate working capital. This move aims to bolster Gemfields’ financial position amidst challenging market conditions, potentially impacting its operations and stakeholder interests.

More about Gemfields Group

Gemfields Group Limited is a leading miner and marketer of colored gemstones, operating significant mines such as the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. The company also owns the prestigious Fabergé brand, enhancing its market presence and consumer awareness in the colored gemstone sector. Gemfields has developed a proprietary grading system and auction platform to supply gemstones consistently to downstream markets.

YTD Price Performance: -34.00%

Average Trading Volume: 31,685

Technical Sentiment Signal: Strong Buy

Current Market Cap: $90.42M

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