Shareholders are informed that Pallinghurst’s Annual Results for the year ended 31 December 2018 is now available.
Gemfields is reasonably certain that its net loss after tax will be USD 60.4 million for the year ended 31 December 2018 compared to a net profit after tax of USD 45.1 million for the year ended 31 December 2017. In ZAR terms, the net loss after tax is expected to be ZAR 801 million (ZAR 600 million net profit after tax for the comparative year). The loss per share is expected to be USDc 5.0 for the year ended 31 December 2018 compared to earnings per share of USDc 4.0 for the comparative year. In ZAR terms, the loss per share is expected to be ZAR 0.63 (ZAR 0.49 earnings per share for the comparative period).
Gemfields confirms that its team and operations at the Montepuez Ruby Mine in northern Mozambique have thankfully not been affected by tropical cyclone Idai, one of the worst storms on record in the Southern Hemisphere.