URA Holdings PLC (LSE:URAH) announced a delay in the first trial emerald sale due to export delays in Thailand.
The sale of emeralds from the Gravelotte mine was originally set to take place this month.
Approximately 45,000 carats of emeralds were exported from South Africa to Bangkok in two batches for the sale, but the clearance of one of the parcels was delayed, leading to the postponement.
The company plans to reschedule the trial sale to coincide with the next independent emerald auction conducted by Bonas, at which point it expects additional emeralds will be available for sale.
"Despite the delay in the trial sale, we are continuing to produce material from the Gravelotte mine and building our stockpile of material in preparation for our first sale at a later date,” URA chair Ed Nealon said in a statement.
“We are making good progress with work at the Curlew mine in preparation for the commencement of phased production and will update the market shortly on our progress.”