Gem Resources PLC (LSE:GEMR, FRA:UZS), with the filing of its annual financial report, highlighted that it recorded its first revenues from Gravelotte in 2025, marking an important first commercial step for the emerald developer as a recapitalisation lifted its year-end cash balance.
The company reported revenue of £45,000 from sales of mixed-to-low grade emeralds and historic tailings at Gravelotte, while the group loss narrowed to £0.9 million from a restated £1.9 million a year earlier.
The reduction mainly reflected the absence of a £754,000 impairment charge booked in 2024.
Cash at group level rose to £1.61 million from £414,000, following a September funding package comprising a £617,320 equity subscription at 0.20p per share and a £1.5 million unsecured convertible loan note. The note carries 5% annual interest and is convertible at 0.30p per share until September 2028.
Gem Resources said its 2025 focus was on strengthening the balance sheet, governance and portfolio review, alongside operational work at Gravelotte, including hard-rock mining at the Cobra Open Pit and initial test sales.
Post period-end, the company noted it also made its first Bitcoin allocation, buying 9 BTC for about US$634,684.60 through HashKey Exchange.