Gemfields

Press: Gemfields rose after impressive annual results. ?We maintain a speculative buy recommendation and target price of 31p. Our valuation is... read more

Press: Gemfields rose after impressive annual results. ?We maintain a speculative buy recommendation and target price of 31p. Our valuation is based on expected cash flows over the next seven years from the Kagem mine, discounted at 12 per cent and prior to any expansion either underground or to other prospective near-surface deposits,? said Canaccord. Source - Financial Times

Analyst: 15.03.11: -1.13, (15.75) Analyst: Gemfields has a 75% interest in Kagem Mining, which operates the world?s largest producing emerald... read more

Analyst: 15.03.11: -1.13, (15.75) Analyst: Gemfields has a 75% interest in Kagem Mining, which operates the world?s largest producing emerald mine in Zambia. In early 2009, new management implemented a strategy leveraging it to recovery in the gemstones market. This was vindicated in excellent H111 revenues of $29.05m, which included $19.6m revenue ($26.2/ct) from the December 2010 emerald auction. Gemstone production was 18.7Mct. Source - edisoninvestmentresearch.co.uk

an article in the FT reports: 07.10.10: -1.25, (11) an article in the FT reports: Gemfields Resources rose 5.25p to 10.50p after H2 results suggested an upturn in... read more

an article in the FT reports: 07.10.10: -1.25, (11) an article in the FT reports: Gemfields Resources rose 5.25p to 10.50p after H2 results suggested an upturn in gems market. The company sold $20m ($1m) of emeralds. Cannacord reiterated its buy advice, saying Gemstones: ?possesses a business model that we believe is on the cusp of growing significantly in the coloured gemstone space?.

Gemfields PLC said it is restarting exploration activities in Madagascar and Zambia that were put on hold in 2009. Chief Executive Ian... read more

Gemfields PLC said it is restarting exploration activities in Madagascar and Zambia that were put on hold in 2009. Chief Executive Ian Harebottle told Dow Jones Newswires Gemfields has decided to recommence exploration following a recovery in demand for gems and the company?s maiden fiscal-year profit. Harebottle said Gemfields has set up an in-house drilling team to focus on exploring near the company?s Kagem emerald mine in Zambia and at its other license areas in the southern African state. The company also has exploration licenses in Madagascar. "During the tough times we focused on our core business and let this side go quiet for a while," Harebottle said. He added now Gemfields has cash and the market for emeralds and other precious stones is picking up it intends to carry out geological assessments on these license areas. Harebottle didn?t say how much Gemfields intends to spent on exploration this financial year. Harebottle added Gemfields has been approached by smaller peers in Africa interested in forming joint ventures. These companies are in production but are interested in tapping Gemfields? mining expertise and marketing clout, he said. "These guys have seen what we?ve achieved and are eager to become part of that," Harebottle said, without giving further details.