Category

Business Update

Gemfields Press Statement

Gemfields confirms today that it has agreed, on a no-admission-of-liability basis, the settlement of all claims brought by English law firm Leigh Day on behalf of individuals living in the vicinity of Montepuez Ruby Mining Limitada’s (MRM) mining concession in northern Mozambique. The settlement figure is GBP 5.8 million comprising the sum to be distributed to the claimants by Leigh Day and their legal expenses. In its voluntary statement dated 12 February 2018, Gemfields recognised that, in the past, instances of violence have occurred on and around the MRM licence area, both before and after Gemfields’ arrival in Montepuez.

MRM Ruby Mine SAMREC Resource & Reserves Update

Gemfields is pleased to announce the publication of a Competent Persons Reports (“CPR”) produced by SRK Consulting (UK) Ltd (“SRK”) in respect of Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local Mozambican partner Mwiriti Limitada. The CPR includes ‘Mineral Resource’ and ‘Mineral Reserve’ estimates (at 31 August 2018) in accordance with the 2016 edition of the South African Code for the reporting of exploration results, Mineral Resources and Mineral Reserves (the SAMREC Code or “SAMREC”).

Kariba Update & MRM Monthly Operational Market Data to 31 August 2018

On 9 November 2018, Gemfields Canada Inc. (a 100% subsidiary of Gemfields) agreed to sell its 50% stake in Kariba Minerals Ltd (“Kariba”), the Zambian amethyst mine, to ZCCM Investments Holdings plc (“ZCCM”). The Company is set to receive USD 2,500,000 in consideration for the disposal of its shares to ZCCM. The transaction is subject to various administrative steps and regulatory approvals, including from the Zambian Competition and Consumer Protection Commission and the Zambian Ministry of Mines. The transaction is currently expected to complete early in Q1 2019. As part of the agreement, Gemfields has agreed to discharge all outstanding sums owed by Kariba to the Company.

Monthly Operational Market Update – 31 August 2018

Gemfields shareholders are advised that the Company has released information about its business related and operational results and financial position up to and including August 2018. The figures have been produced on a monthly‐basis for both Gemfields’ 75% owned Kagem emerald mine and Fabergé – the iconic luxury brand. Gemfields will follow up with its Montepuez ruby mine figures in due course.

Monthly Operational Market Update – 31 March 2018

Gemfields shareholders are advised that the Company has released information about its business related and operational results and financial position up to and including March 2018. The figures have been produced on a monthly-basis for both Gemfields’ 75% owned Kagem emerald mine and Fabergé – the iconic luxury brand. Gemfields will follow up with its Montepuez ruby mine figures in due course.

Notice of Interim Results

Gemfields plc (AIM: GEM) will be reporting its interim results for the six month period ending 31 December 2014 at 07:00 Greenwich Mean Time (“GMT”) on Monday 9 March 2015.

Jupiter announces a US$42 million share buy-back; Pallinghurst stands to receive a further ZAR94 million

Jupiter Mines Limited (“Jupiter”) has announced the indicative terms of an off-market equal access share buy- back (“Buy-Back”) pursuant to which it intends to return US$42 million to its shareholders. All Jupiter shareholders are to be made an equal offer to have 5.82% of their Jupiter shares repurchased, at a price of US$0.35 per Jupiter share. Pallinghurst owns approximately 18.4% of Jupiter and stands to receive almost US$8 million (ZAR94 million) in March 2018.
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