Last week, Gemfields published results of its commercial quality emerald auction. Revenues were US$23.1m, a record for a commercial quality emerald auction. As impressive was the new record average price of US$6.61/carat, which bodes well for future pricing and reflects strong demand for the product. FY21 auction revenues now stand at US$113.4m with two more auctions planned for 4Q21.
Although we didn’t expect such strong revenues from this auction, we keep our FY21 revenue estimate unchanged ....
17 Aug 2021
Gemfields - Three records broken
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Gemfields - Three records broken
Gemfields Group Limited (GEM:LON) | 11.6 0 0.0% | Mkt Cap: 135.6m
- Published:
17 Aug 2021 -
Author:
Cavendish Research -
Pages:
3
Last week, Gemfields published results of its commercial quality emerald auction. Revenues were US$23.1m, a record for a commercial quality emerald auction. As impressive was the new record average price of US$6.61/carat, which bodes well for future pricing and reflects strong demand for the product. FY21 auction revenues now stand at US$113.4m with two more auctions planned for 4Q21.
Although we didn’t expect such strong revenues from this auction, we keep our FY21 revenue estimate unchanged ....