Although Gemfields has been unable to hold full gemstone auctions since February, successful November and December emerald mini-auctions generated US$10.8m in sales. Full in-person auctions are planned for March 2021 if travel restrictions lift by then. Gemfields has taken steps to preserve cash, including keeping both mines suspended, and we now forecast end 2020 net debt of US$11.6m (from US$10.5m previously).
16 Dec 2020
Gemfields Group - Marching towards March 2021 auctions
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Gemfields Group - Marching towards March 2021 auctions
Although Gemfields has been unable to hold full gemstone auctions since February, successful November and December emerald mini-auctions generated US$10.8m in sales. Full in-person auctions are planned for March 2021 if travel restrictions lift by then. Gemfields has taken steps to preserve cash, including keeping both mines suspended, and we now forecast end 2020 net debt of US$11.6m (from US$10.5m previously).