Colored gemstone producer, Gemfields (AIM: GEM) confirmed this morning that QVT Financial had upped its stake in the company to just over 38 million shares, or 11.73%. QVT acquired a further 12.5 million shares, taking its equity holding to 25.26 million shares and also has contracts for difference (CFD’s) over a further 12.74 million shares.
Earlier this month, Gemfields announced that it had sold US$5.6 million worth of rough emeralds at the second auction it held this year after raking in US$5.9 million in July, achieving a higher average sales value of US$5.10 per carat compared to US$4.40 in the first auction.
A total of 1.12 million carats were offered in the second auction, which was attended by more than 20 companies from India with 19 of them placing bids and buying 74% of the lots, which represents 97.2% of lots by weight and 76% of lots by value. The lots offered ranges in value from US$1 per carat to US$200 per carat.