GEMFIELDS GROUP LIMITED - Auction Results MRM Commercial-Quality

Auction Results – MRM Commercial-Quality

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")

Auction Results – MRM Commercial-Quality

LONDON, 5 SEPTEMBER 2024


Gemfields is pleased to announce the results of an auction of predominantly commercial-quality
sapphire, corundum and commercial-quality ruby held from 2 to 4 September 2024.

Highlights – MRM Commercial-Quality Auction – September 2024

     -    Auction revenues of USD 2.3 million (2023's MRM Commercial-Quality Auction: USD
          1.5 million)
     -    All of the 5.7 million carats (1,130 kilograms) offered in 10 lots were sold (100%)
     -    Average sales price of USD 0.41 per carat

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

"We extend our gratitude to the auction participants who made this brief, three-day auction such an enjoyable event.
The majority of the auction's offering consisted of corundum and sapphire, which are considered by-products of MRM.
Despite the commercial nature of these goods, the auction saw strong attendance and robust demand. The significant
volume of the lower-priced rough sold, will support the factories in the cutting centres of Chanthaburi, Thailand and
Jaipur, India. 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."

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.


                                                     -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:
                                        ir@gemfields.com


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



This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European Union
(withdrawal) act 2018 ("MAR").


                                           ENQUIRIES


 GEMFIELDS                         Sean Gilbertson / David Lovett / Ian Hughes
                                   ir@gemfields.com
                                   T: +44(0) 20 7518 3400

 SPONSOR (JSE)                     Investec Bank Limited


 NOMINATED ADVISER                 Panmure Liberum
 (AIM) & BROKER                    Scott Mathieson / John More / Anake Singh
                                   T: +44(0) 20 3100 2222


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



Gemfields Group Limited 
                                                             
ADDITIONAL INFORMATION ON GEMFIELDS

Gemfields is a world-leading responsible miner and marketer of 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 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 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                                                                 

Date: 05-09-2024 08:00:00
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