| Fri 10 Dec 2021, 9:00 | | GEMFIELDS GROUP LIMITED - Record Ruby Auction Results |
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Record Ruby Auction Results
GEMFIELDS GROUP LIMITED
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")
Record Ruby Auction Results
LONDON, 10 DECEMBER 2021
Gemfields is delighted to announce the results of a ruby auction comprised of seven sequential mini-
auctions held during the period 8 November – 9 December 2021. The auction delivered an all-time high
for MRM ruby auctions and contained a selection of grades that are typically offered at Montepuez Ruby
Mining Limitada’s (“MRM”) auctions of mixed quality rubies. Selected lots were made available for in-
person and private viewings by customers in Bangkok, Dubai and Jaipur. Following the viewings, the
auctions took place via an online auction platform specifically adapted for Gemfields and which permitted
customers from multiple jurisdictions to participate in a sealed-bid process.
The rough rubies were all extracted from the mining licence held and operated by MRM (which is 75%
owned by Gemfields and 25% by Mozambican partner Mwiriti Limitada).
Highlights – November & December 2021 Ruby Auction
- Total auction revenues of USD 88.4 million, an all-time high for MRM ruby auctions
- Average price of USD 132.47 per carat
- Of the 107 lots offered, 104 were sold (97%)
- 98% of the carats offered at the auction were sold
- The 15 auctions of MRM gemstones held since June 2014 have generated USD 731.5 million in
total revenues
- Gemfields’ annual gemstone auction revenues reach an all-time high of USD 239.6 million (across
emeralds and rubies), with the prior record having been USD 200.6 million in 2019.
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“This has been the strongest ruby auction in Gemfields’ history and we’re very pleased with the trajectory and growth
of the downstream ruby sector. Professionalised and dependable supply has always been the key to unlocking growth.
The strength of the results we’ve seen this week for both emeralds and rubies means that Gemfields has achieved a
new record for annual gemstone auction revenues of USD 239 million, a very pleasing result for 2021. We extend
sincere thanks to our 2,500 team members worldwide, to our host governments in Mozambique and Zambia, to our
business partners and of course to our customers for their ongoing support.”
The auction saw 49 companies placing bids and generating record revenues of USD 88.4 million with an
overall average value of USD 132.47 per carat. The auction saw 97% of the number of lots, and 98% of the
offered carats, being sold. Gemfields’ annual gemstone auction revenue reached a new record of USD 239.6
million in 2021, the prior record having been USD 200.6 million in 2019).
The results of the five most recent mixed quality ruby auctions are summarised in the table below (and
earlier results are available at www.gemfieldsgroup.com):
Mar-Apr ’21 Nov-Dec ’21
AUCTION Dec ’18 Jun ’19 Dec ’19 AUCTION AUCTION
RESULTS AUCTION AUCTION AUCTION (7 sequential (7 sequential
mini-auctions) mini-auctions)
10-14 Dec 11-15 Jun 10-14 Dec 15 Mar – 8 8 Nov – 9
Dates
2018 2019 2019 Apr 2021 Dec 2021
Various/ Various/
Location Singapore Singapore Singapore
Online Online
Rough Ruby Rough Ruby Rough Ruby Rough Ruby Rough Ruby
(Higher, (Higher, (Higher, (Higher, (Higher,
Medium and Medium and Medium and Medium and Medium and
Type
Commercial Commercial Commercial Commercial Commercial
Quality), no Quality), no Quality), no Quality), no Quality), no
Corundum Corundum Corundum Corundum Corundum
Carats offered 685,363 978,197 1,158,114 726,610 681,013
Carats sold 655,623 962,211 927,130 343,952 667,589
No. of lots
90 90 104 94 107
offered
No. of lots sold 88 84 91 89 104
Percentage of
98% 93% 88% 95% 97%
lots sold
Percentage of
lots sold by 96% 98% 80% *47% 98%
weight
Total sales
USD 55.3 USD 50.0 USD 71.5 USD 58.9 USD 88.4
realised at
million million million million million
auction
Average per USD USD USD USD USD
carat sales value 84.32/carat 51.99/carat 77.12/carat 171.33/carat 132.47/carat
(*) One lot of 76,343 grams (representing some 53% of the total weight offered) remained unsold at the March/April 2021 auction. As
a result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold.
The specific auction mix and quality composition of the lots offered at each auction vary in characteristics
such as size, colour and clarity on account of variations in mined production and market demand. Therefore,
the results of each auction are not always directly comparable.
-ENDS-
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 / Mark Lawrie
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
SEDIBELO SALE PROCESS Liberum
Nehal Patel
T: +44(0) 20 3100 2222
NOMINATED ADVISER finnCap Limited
(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 / Nick Hennis
Gemfields Group Limited
T: +44(0) 20 3757 4980
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading supplier of responsibly sourced 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 controlling interests in
various other gemstone mining and prospecting licenses 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, 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 and 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
Date: 10-12-2021 09:00:00
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