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.