GEMFIELDS GROUP LIMITED - Auction Results: Sale of previously unsold Higher-Quality Emeralds

Auction Results: Sale of previously unsold Higher-Quality Emeralds

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 "Group" or the "Company")


Auction Results: Sale of previously unsold Higher-Quality Emeralds

LONDON, 24 FEBRUARY 2025

Gemfields is pleased to announce the results of a mini-auction held from 19 to 21 February 2025
of previously unsold higher-quality emeralds from the November 2024 auction.

Highlights – Auction of Previously Unsold Higher-Quality Emeralds – February 2025

     -    Auction revenues of USD 4.8 million
     -    10 of the 13 lots were sold (77%) with 45,864 carats sold out of 59,192 carats on offer
          (77%)
     -    Average sales price of USD 105.49 per carat

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

"This auction was solely comprised of unsold lots from Kagem's November 2024 higher-quality emerald auction,
some three months ago. The composition of the schedules on offer remained unchanged, providing Gemfields with a
rare opportunity to directly compare demand and pricing between two auctions.

It was pleasing to receive notably higher bids, resulting in 10 of the 13 unsold lots being successfully sold in this
auction. Although market sentiment remains clearly subdued, it is encouraging to see improvement in both demand
and pricing. We extend our best wishes to our Auction Partners ahead of the upcoming trade shows in Bangkok
and Hong Kong."

The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25%
by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully
repatriated to Kagem in Zambia with all royalties due to the Government of the Republic of
Zambia being paid on the full sales prices achieved at the auction.

                                          -ENDS-



              Further information on Gemfields Group Limited can be found at:
                                   GEMFIELDSGROUP.COM




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


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 / Amrit Mahbubani / John More
                                  T: +44(0) 20 3100 2222


 PRESS ENQUIRES,                  Helena Choudhury / Albertina Namburete
 GEMFIELDS HEAD OFFICE,           helena.choudhury@gemfields.com / albertina.namburete@gemfields.com
 LONDON


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 | X | YOUTUBE


 
                                        FABERGÉ

                FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE



                                 KAGEM MINING LINKEDIN

                             MONTEPUEZ RUBY MINING LINKEDIN



Date: 24-02-2025 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.