URA Holdings PLC (GB:URAH) has released an update.
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URA Holdings PLC has successfully commenced emerald production at the Gravelotte mine, adhering to schedule and budget constraints, and is now producing with an over 80% recovery level. The company is also strengthening its market presence with the strategic acquisition of the Curlew Emerald Mine, known for high-quality large emeralds, and has ensured financial flexibility through partnerships for the upcoming auction sales. Despite reporting a six-month loss due to production start-up costs, URA anticipates revenue in the second half of 2024 and has solid financial backing, highlighted by successful fundraising efforts and institutional investor confidence.
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