December 2014

Pallinghurst pleased with Gemfields’ R500M record sales from its ruby auction

Pallinghurst is pleased that Gemfields has announced sales of almost R500 million from its higher quality rough ruby auction in Singapore. The key highlights were:  Auction revenues of US$43.3 million, the highest ever achieved at any Gemfields auction.  Average realised price of US$689 per carat, the highest ever achieved at any Gemfields auction.  In total, 62,936 carats sold. The two Montepuez auctions held since June 2014 have generated US$76.8 million in aggregate revenues. The auction revenue of US$43.3 million includes the successful sale of an exceptional 40.23 carat rough ruby from Montepuez. Pallinghurst owns a 48% interest in Gemfields.

Results – Singapore Rough Ruby Auction

Gemfields plc (AIM: GEM) is pleased to announce the results of its auction of predominantly higher quality rough ruby extracted by Montepuez Ruby Mining Limitada (in which Gemfields has a 75% interest) from the Montepuez ruby deposit in Mozambique. The auction was held in Singapore from 3 to 8 December 2014 and marked Gemfields’ second auction of rough ruby.