Enhanced Investments - Financial Portal

MRM Commercial-Quality Auction Results

Published: 2022-09-27 09:01:12 ET

                          Incorporated in Guernsey. Guernsey registration Number: 47656.
                        South African external company registration number 2009/012636/10
                                        Share code on JSE:GML / AIM:GEM
                             ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
                                          ("Gemfields" or the "Company")




MRM Commercial-Quality Auction Results
LONDON, 27 SEPTEMBER 2022


Gemfields is pleased to announce the results of an auction of predominantly commercial-quality
sapphire, corundum and low-quality ruby held from 19 September 2022 to 23 September 2022.
The gemstones were extracted by Montepuez Ruby Mining Limitada in Mozambique (“MRM”,
which is 75% owned by Gemfields and 25% by Mwiriti Limitada). The proceeds of this auction
will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the
Republic of Mozambique being paid on the full sales prices achieved at the auction.


Highlights

    •     Auction revenues of USD 4.2 million
    •     All of the 18.1 million carats (3.6 tonnes) offered in 18 lots were sold
    •     Average sales price of USD 0.23 per carat


The auction saw 29 companies placing bids, generating revenues of USD 4.2 million with an
overall average sales price of USD 0.23 per carat. The auction saw 100% of both the number of
offered carats and the number of lots being sold.

Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:

“The buoyant conditions prevailing in the coloured gemstone market made this an excellent time to sell several years of
accumulated MRM commercial-quality inventory. We thank and congratulate the Government of Mozambique and
our partners at Mwiriti - both of whom attended the auction - on what are very healthy results for material of this
quality.”


                                                      -ENDS-




    Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
                                      T +44 (0)1481 731 554
                                         gemfieldsgroup.com
              Further information on Gemfields Group Limited can be found at:
                                      GEMFIELDSGROUP.COM




                          To join our investor mailing list, contact us on:
                                companysecretary@gemfields.com


                           For any press enquiries please contact us on:
                                    gemfields@camarco.co.uk
                                           ENQUIRIES




 GEMFIELDS                         Sean Gilbertson / David Lovett
                                   T: +44(0) 20 7518 3400


 SPONSOR (JSE)                     Investec Bank Limited


 SEDIBELO SALE PROCESS             Liberum
                                   Scott Mathieson
                                   T: +44(0) 20 3100 2222

 NOMINATED ADVISER                 finnCap
 (AIM) & JOINT BROKER              Christopher Raggett / Tim Redfern / Edward Whiley
                                   T: +44(0) 20 7220 0500


 JOINT BROKER                      Liberum
                                   Scott Mathieson / Kane Collings
                                   T: +44(0) 20 3100 2222


 FINANCIAL PR/ IR                  Camarco
                                   Gordon Poole / Emily Hall
                                   T: +44(0) 20 3757 4980




ADDITIONAL INFORMATION ON GEMFIELDS


Gemfields is a world-leading miner of responsible coloured gemstones. Gemfields is the operator
and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single
largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most
significant recently discovered ruby deposits in the world). In addition, Gemfields also holds




Gemfields Group Limited                                                                Page 2 of 3
controlling interests in various other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.


Gemfields’ outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage
- enables Gemfields to optimise positioning, perception and consumer awareness of coloured
gemstones through Fabergé designs, advancing the wider group’s “mine and market” vision.


Gemfields has developed a proprietary grading system and a pioneering auction and trading
platform to provide a consistent supply of coloured gemstones to downstream markets, a key
component of Gemfields’ business model that has played an important role in the growth of the
global coloured gemstone sector.



                                           GEMFIELDS

                          GEMFIELDS.COM | INVESTORS |FOUNDATION

                          INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE




                                            FABERGÉ

               FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE




                                   KAGEM MINING LINKEDIN

                              MONTEPUEZ RUBY MINING LINKEDIN




Gemfields Group Limited                                                                Page 3 of 3

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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.