Gemfields Group Limited (AIM:GEM) confirmed that it completed the sale of Fabergé to SMG Capital on 29 August 2025.
The $50 million deal, which was announced on 11 August, involved $45 million due on completion, with a further $5 million to be paid through quarterly royalties (equal to 8% of Fabergé’s revenue).
Proceeds will provide working capital for operations at Montepuez Ruby Mining in Mozambique and expansion at Kagem in Zambia.
SMG is a US investment company controlled by the tech investor Sergei Mosunov.
Analysts at Panmure Liberum said it was a good deal, as although Fabergé has helped GEM raise the profile of the coloured gemstones it mines, the cash supports the core business expand.