Gem Resources PLC (LSE:GEMR) CEO Bernard Olivier takes Proactive's Stephen Gunnion through an operational update on the company's Gravelotte Emerald Mine. Olivier shared that Phase 1 of the project, which involved site and processing plant upgrades, has been completed. He emphasised the 45% increase in processing capacity and the elimination of downtime due to breakdowns since the upgrades.
Moving into Phase 2, Gem Resources is commencing mining activities at the Cobra open pit. Olivier highlighted the cost-conscious approach the company has taken, citing a 75% cost saving on in-house upgrades. He noted that the company remains debt-free and is focusing on ore extraction from defined zones based on analyses by ACA Howe International and SRK.
Olivier stated, "We are very, very happy and encouraged by what we are seeing with our own mining operations." With active mining now underway, the company is transitioning from processing stockpiles to extracting high-value material directly from the mine.