Gemfields’ balance sheet is in excellent health despite the pandemic. With FY21 auction revenues of US$90m already booked, Gemfields is planning three auctions in the second half. Demand and prices remain strong (April’s auctions achieved record average ruby prices) although the COVID situation in India, Thailand and Singapore could result in auction disruption. We assume the commercial quality emerald auction goes ahead during 3Q and that two higher-value auctions planned for 4Q are smaller (vo ....
03 Aug 2021
Gemfields - Strong long-term cashflows
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Gemfields - Strong long-term cashflows
Gemfields Group Limited (GEM:LON) | 11.6 0 0.0% | Mkt Cap: 135.6m
- Published:
03 Aug 2021 -
Author:
Cavendish Research -
Pages:
34
Gemfields’ balance sheet is in excellent health despite the pandemic. With FY21 auction revenues of US$90m already booked, Gemfields is planning three auctions in the second half. Demand and prices remain strong (April’s auctions achieved record average ruby prices) although the COVID situation in India, Thailand and Singapore could result in auction disruption. We assume the commercial quality emerald auction goes ahead during 3Q and that two higher-value auctions planned for 4Q are smaller (vo ....