Gemfields Group Limited (AIM:GEM) said auction revenues of $60 million as it reported a trading update, covering a period of restart and renewed optimism.
In June, the gemstone miner raised $30 million in a rights issue whilst mining operations resumed in May at the Kagem site.
At Kagem, operations have been focused on the processing of tailings, albeit further expansion work at the mine began in July.
Meanwhile, construction of a second processing plant at the Montepuez Ruby Mine is nearing completion, with first production expected in August, ahead of ‘full completion’ in September.
At the same time, Gemfields added that “material progress” has been made in respect of the strategic review of its Fabergé brand.
The company said its net debt position was $59.6 million at the end of June.
Gemfields plans to release its interim results, covering the six months ended 30 June, by 26 September.