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GEMFIELDS GROUP LTD ORD USD0.00001GEMFIELDS GROUP LTD ORD USD0.00001GEMFIELDS GROUP LTD ORD USD0.00001

GEMFIELDS GROUP LTD ORD USD0.00001

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Our opinion on the current state of GEMFIELDS(GML)The Gemfields Group (GML), previously known as the Palinghurst Group, is a mining company primarily focused on two major projects: (1) Kagem, the world’s largest producer of emeralds, located in Zambia, and (2) Montepuez in Mozambique, one of the world’s largest ruby mines. Additionally, the company once had a stake in Jupiter Mines, a South African manganese producer. Under the leadership of Brian Gilbertson, the former CEO of BHP Billiton, Gemfields has focused on consolidating and professionally managing the under-developed semi-precious stones market. In 2018, Gemfields listed Jupiter Mines on the Australian Stock Exchange (ASX) and divested 60% of its stake in line with its decision to focus on gemstones. Gemfields' share is fairly liquid, with approximately R500,000 worth of shares trading daily. However, as with all commodity stocks, it is subject to risks associated with fluctuating international prices of emeralds and rubies, as well as the operational risks tied to mining in third-world countries. Despite this, the company appears to have carved out a niche in the gemstones market with limited competition and could benefit from a global economic recovery. Following an insurgent attack near the Montepuez ruby mine (MRM) in October 2022, Gemfields resumed operations shortly after. On 7th August 2023, the company announced plans to construct a new processing plant, which would triple output from the Montepuez mine. In its results for the six months ending 30th June 2024, Gemfields reported revenue of $128 million, down from $153.6 million in the previous period. Headline earnings per share (HEPS) dropped by 25%. The company highlighted the challenge of managing cash availability while making significant investments at the Kagem emerald mine, the Montepuez ruby mine, and other development assets. Technically, the share had risen off an island formation and entered a strong upward trend until July 2023, when the trendline broke. We recommend waiting until the downward trendline is broken before considering further investment. On 11th June 2024, Gemfields appointed Bruce Cleaver as Chairman. In a report released on 19th June 2024, the company announced that it had sold $68.7 million worth of rubies at an average price of $316.95 per carat during its June auctions. The share tends to be volatile, largely due to the nature of the gemstone market and the risks inherent in mining operations in developing countries. While Gemfields has potential, particularly with its unique positioning in the gemstone sector, its performance remains tied to external factors such as market demand and geopolitical risks.
JSE:GML
by PDSnetSA
Our opinion on the current state of GEMFIELDS(GML)The Gemfields Group (GML), formerly known as the Palinghurst Group, is a mining company with two main projects: (1) Kagem, the world's largest producer of emeralds in Zambia, and rubies at Montepuez in Mozambique; (2) Jupiter Mines, a South African manganese producer. The group is led by Brian Gilbertson, the former CEO of BHP Billiton, who saw an opportunity to consolidate and professionalize the semi-precious stones market, which was historically under-developed. This vision led to the establishment of Gemfields' operations. In April 2018, Gemfields listed Jupiter Mines on the Australian Stock Exchange (ASX), disposing of 60% of the company as part of its strategy to focus solely on gemstones, moving away from being a diversified mining company. The Gemfields share is relatively well-traded, with approximately R500,000 worth of shares exchanging hands daily. However, like all commodity shares, Gemfields is exposed to market risks, particularly in relation to emerald and ruby prices, as well as the operational risks of mining in third-world countries. Despite these risks, the company has carved out a niche in the gemstone industry, where competition is limited, positioning it to perform well as global economic conditions improve. On 24th October 2022, Gemfields announced that operations at the Montepuez Ruby Mine (MRM) had resumed after a temporary halt following an insurgent attack 12 kilometers away from the mine. Additionally, on 7th August 2023, the company revealed plans to construct a new processing plant that would triple its ruby output from the Montepuez mine. For the year ending 31st December 2023, Gemfields reported a 23% drop in revenue and a headline loss of 0.9c (US) per share compared to a profit of 4.8c in the previous year. The company attributed this to the cancellation of its higher-quality emerald auction in November 2023 and a write-down of its non-core 6.54% equity holding in Sedibelo Resources, a platinum group metals mining company. In its update for the six months ending 30th June 2024, Gemfields reported total auction revenues of $121 million and a net debt of $44.4 million. The construction of MRM's second processing plant is on budget and on track for completion by the end of H1 2025. In a trading statement for the same period, the company estimated that headline earnings per share (HEPS) would decline by 21% in rands, despite generating auction revenues of $120.6 million and an additional $6.6 million from its Fabergé division. Technically, Gemfields' share price experienced a strong upward trend, which began after an island formation, but that trend was broken in July 2023. Currently, the share remains in a downward trend, and we recommend waiting for the downward trendline to be broken before considering any new positions. On 11th June 2024, Gemfields announced the appointment of Bruce Cleaver as Chairman. In its June 2024 auctions, the company sold $68.7 million worth of rubies at an average price of $316.95 per carat, reflecting the ongoing demand for its gemstones.
JSE:GML
by PDSnetSA
Our opinion on the current state of GEMFIELDS(GML)The Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique); (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management - hence the Gemfields' operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April of 2018 and in the process, Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R,5m worth of shares changing hands on average every day. Like all commodity shares, it is risky and its fortunes depend on the prices of emeralds and rubies on the international market - as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022, the company announced that operations have resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. On 7th August 2023, the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In its results for the year to 31st December 2023, the company reported revenue down 23% and a headline loss of 0,9c (US) compared with a profit of 4,8c. The company said, "The Group’s financial performance was impacted in the year by the withdrawal of November 2023’s higher-quality emerald auction and an unrealised write-down of Gemfields’ non-core 6.54% equity holding in Sedibelo Resources, the platinum group metals mining company." In an update on the six months to 30th June 2024, the company reported total auction revenues of $121m and a net debt position of $44.4m. The company said, "Construction of MRM's second processing plant remains on budget and on track for completion by end of H1 2025." Technically, the share rose off an island formation and entered a strong new upward trend which lasted until July 2023 when the trendline was broken. We recommend waiting until the downward trendline is broken - which has not yet happened. On 11th June 2024, the company announced the appointment of Bruce Cleaver as Chairman. In a report on 19th June 2024, the company said that in June 2024 auctions, it had sold $68,7m worth of rubies at an average price of $316,95 per carat.
JSE:GML
by PDSnetSA
Our opinion on the current state of GEMFIELDS(GML)The Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique); (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management - hence the Gemfield's operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April of 2018, and in the process, Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R0.5m worth of shares changing hands on average every day. Like all commodity shares, it is risky and its fortunes depend on the prices of emeralds and rubies on the international market, as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022, the company announced that operations had resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. On 7th August 2023, the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In its results for the year to 31st December 2023, the company reported revenue down 23% and a headline loss of 0,9c (US) compared with a profit of 4,8c. The company said, "The Group’s financial performance was impacted in the year by the withdrawal of November 2023’s higher-quality emerald auction and an unrealised write-down of Gemfields’ non-core 6.54% equity holding in Sedibelo Resources, the platinum group metals mining company." Technically, the share rose off an island formation and entered a strong new upward trend which lasted until July 2023 when the trendline was broken. We recommend waiting until the downward trendline is broken - which has not yet happened. On 11th June 2024, the company announced the appointment of Bruce Cleaver as Chairman. In a report on 19th June 2024, the company said that in June 2024 auctions, it had sold $68,7m worth of rubies at an average price of $316,95 per carat.
JSE:GML
by PDSnetSA
Our opinion on the current state of GEMFIELDS(GML)The Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique), and (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management, hence the Gemfields operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April 2018, and in the process, Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R5 million worth of shares changing hands on average every day. Like all commodity shares, it is risky and its fortunes depend on the prices of emeralds and rubies on the international market, as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022, the company announced that operations had resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. On 7th August 2023, the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In its results for the year to 31st December 2023, the company reported revenue down 23% and a headline loss of 0.9c (US) compared with a profit of 4.8c. The company said, "The Group’s financial performance was impacted in the year by the withdrawal of November 2023’s higher-quality emerald auction and an unrealised write-down of Gemfields’ non-core 6.54% equity holding in Sedibelo Resources, the platinum group metals mining company." Technically, the share rose off an island formation and entered a strong new upward trend which lasted until July 2023 when the trendline was broken. We recommend waiting until a new upward trend is established. On 11th June 2024, the company announced the appointment of Bruce Cleaver as Chairman. In summary, Gemfields Group presents a potentially lucrative opportunity in a niche market with limited competition. However, the company faces significant risks associated with commodity prices and geopolitical instability in its operating regions. Investors should monitor the establishment of a new upward trend and be aware of the inherent risks before making any investment decisions.
JSE:GML
by PDSnetSA
Our opinion on the current state of GMLThe Gemfields Group (GML), formerly known as Palinghurst Group, operates as a mining group with significant projects in the production of emeralds and rubies. Its major projects include Kagem, the world's largest producer of emeralds (located in Zambia), and rubies (at Montepuez in Mozambique), as well as Jupiter Mines, a South African producer of manganese. Led by Brian Gilbertson, formerly the CEO of BHP Billiton, the company identified the underdeveloped semi-precious stones market as an opportunity for consolidation and professional management, leading to the establishment of Gemfields. Gemfields disposed of 60% of Jupiter Mines when it was listed on the Australian Stock Exchange (ASX) in April 2018, aligning with its strategic decision to focus purely on gemstones rather than being a diversified mining company. The company's shares are relatively well-traded, with an average daily trading volume of approximately R5 million worth of shares. However, being a commodity-based company, Gemfields faces inherent risks tied to fluctuations in the prices of emeralds and rubies on the international market, as well as the challenges associated with mining operations in third-world countries. Despite these risks, Gemfields has managed to carve out a niche for itself with limited competition, positioning it well to benefit from the global economic recovery. On October 24, 2022, the company announced the resumption of operations at MRM (Montepuez Ruby Mine) following an insurgent attack near the mine. Additionally, on August 7, 2023, Gemfields announced plans to construct a new processing plant to triple its output from the Montepuez ruby mine. In its financial results for the year ending December 31, 2023, Gemfields reported a 23% decline in revenue and a headline loss of 0.9 cents (US) per share, compared to a profit of 4.8 cents in the previous period. The company attributed this performance to the withdrawal of a higher-quality emerald auction in November 2023 and an unrealized write-down of Gemfields' non-core equity holding in Sedibelo Resources, a platinum group metals mining company. From a technical standpoint, the share price of Gemfields rose after an island formation, entering a strong upward trend that lasted until July 2023 when the trendline was broken. It is advisable to wait for the establishment of a new upward trend before considering investment in Gemfields.
JSE:GML
by PDSnetSA
Our opinion on the current state of GMLThe Gemfields Group (GML), formerly known as Palinghurst Group, is a mining company with two significant projects: (1) Kagem, the world's largest producer of emeralds (located in Zambia) and rubies (at Montepuez in Mozambique); and (2) Jupiter Mines, a South African manganese producer. Led by Brian Gilbertson, former CEO of BHP Billiton, Gemfields identified an opportunity for consolidation and professional management in the underdeveloped semi-precious stones market, leading to its current operations. Gemfields divested 60% of Jupiter Mines during its listing on the Australian Stock Exchange (ASX) in April 2018, aligning with its strategic decision to focus solely on gemstones and cease being a diversified mining company. With an average daily turnover of approximately R5 million, Gemfields shares are relatively liquid. However, like all commodity shares, they carry inherent risks, particularly dependent on international prices of emeralds and rubies, as well as the challenges associated with mining in developing countries. Despite these risks, Gemfields has carved out a niche in the market with limited competition and is poised to benefit from the global economic recovery. Operations at MRM resumed on October 24, 2022, following an insurgent attack, signaling resilience in the face of adversity. Furthermore, on August 7, 2023, the company announced plans to construct a new processing plant at the Montepuez ruby mine, aiming to triple its output. In its financial results for the six months ending June 30, 2023, Gemfields reported revenue of $153.6 million, compared with $193.2 million in the previous period, with headline earnings per share (HEPS) at 0.8c (US) compared to 3.7c in the previous period. Despite the decline, the company maintained a strong balance sheet, with net cash of $62 million and 97% collection of auction receivables amounting to $63.8 million. In an operational update for the six months ending December 31, 2023, Gemfields reported total auction revenues of $242 million and net cash of $11.1 million, highlighting strong auction revenues and pricing for both emeralds and rubies. However, in a trading statement for the year ending December 31, 2023, the company estimated a headline loss of 16c compared to a profit of 78.3c in the previous year. Technically, the share experienced a strong upward trend until July 2023 when the trendline was broken. We recommend waiting for the establishment of a new upward trend before considering further investment.
JSE:GML
by PDSnetSA
Our opinion on the current state of GMLThe Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique); (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management - hence the Gemfield's operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April of 2018 and in the process Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R,5m worth of shares changing hands on average every day. Like all commodity shares it is risky and its fortunes depend on the prices of emeralds and rubies on the international market - as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022 the company announced that operations have resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. On 7th August 2023 the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In its results for the six months to 30th June 2023 the company reported revenue of $153,6m compared with $193,2m in the previous period. Headline earnings per share (HEPS) were 0,8c (US) compared with 3,7c in the previous period. The company reported, "Free cash flow before working capital movements for the six months ended 30 June 2023 of USD 25.2 million. Strong balance sheet with net cash balance at 30 June 2023 of USD 62 million, and USD 63.8 million of auction receivables now 97% collected." In an operational update for the six months to 31st December 2023 the company reported total auction revenues of $242m and net cash of $11,1m. The company said, "Strong auction revenues and pricing continue for both emeralds and rubies." Technically, the share rose off an island formation and entered a strong new upward trend which lasted until July 2023 when the trendline was broken. We recommend waiting until a new upward trend is established.
JSE:GML
by PDSnetSA
Our opinion on the current state of GMLThe Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique); (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management - hence the Gemfield's operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April of 2018 and in the process Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R,5m worth of shares changing hands on average every day. Like all commodity shares it is risky and its fortunes depend on the prices of emeralds and rubies on the international market - as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022 the company announced that operations have resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. On 7th August 2023 the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In its results for the six months to 30th June 2023 the company reported revenue of $153,6m compared with $193,2m in the previous period. Headline earnings per share (HEPS) were 0,8c (US) compared with 3,7c in the previous period. The company reported, "Free cash flow before working capital movements for the six months ended 30 June 2023 of USD 25.2 million. Strong balance sheet with net cash balance at 30 June 2023 of USD 62 million, and USD 63.8 million of auction receivables now 97% collected". Technically, the share rose off an island formation and entered a strong new upward trend which lasted until July 2023 when the trendline was broken. We recommend waiting until a new upward trend is established.
JSE:GML
by PDSnetSA
Our opinion on the current state of GMLThe Gemfields Group (GML) (previously Palinghurst Group) is a mining group that has two major projects: (1) Kagem, the world's largest producer of emeralds (in Zambia) and rubies (at Montepuez in Mozambique); (2) Jupiter Mines, a South African producer of manganese. The group is led by Brian Gilbertson, previously the CEO of BHP Billiton. Gilbertson identified that the semi-precious stones market was under-developed and offered an opportunity for consolidation and professional management - hence the Gemfield's operation. Jupiter was listed on the Australian Stock Exchange (ASX) in April of 2018 and in the process Gemfields disposed of 60% of that company in line with its decision to cease being a diversified mining company and to focus purely on gemstones. The share is fairly well-traded with approximately R,5m worth of shares changing hands on average every day. Like all commodity shares it is risky and its fortunes depend on the prices of emeralds and rubies on the international market - as well as the risks associated with mining in third-world countries. It appears to have found a niche for itself where there is very limited competition, and it should do well as the world economy recovers. On 24th October 2022 the company announced that operations have resumed at MRM and key personnel had returned following an insurgent attack on a mine about 12km away on 20th October 2022. In its results for the year to 31st December 2022 the company reported revenue up 32% and headline earnings per share (HEPS) of 4,8c (US) compared with 4,7c in the previous period. The company said, "In 2022, we generated record revenues at both of our world-class mines, the Kagem emerald mine and Montepuez Ruby Mining (“MRM”), as well as at Fabergé, the prestigious luxury brand. The payment during 2022 of our first and second ever dividends to shareholders marked a major milestone for Gemfields". In a report on the six months to 30th June 2023 the company said, "Strong auction revenues and pricing continue, including the highest ever revenue earned from a Kagem emerald auction in June 2023 - Total auction revenues of USD 145 million, the third highest half-year in Gemfields’ history". On 7th August 2023 the company announced that it would construct a new processing plant that would triple its output from the Montepuez ruby mine. In a trading statement for the six months to 30th June 2023 the company estimated that HEPS would be 14,9c compared with 57,1c in the previous period. The company said, "Gemfields’ two key operating assets, Kagem and MRM, generated revenues of USD 64.6 million and USD 80.4 million respectively during the six-month period to 30 June 2023 (comparative period: Kagem – USD 85.2 million; MRM – USD 95.6 million)". Technically, the share rose off an island formation and, although volatile, looks to be in a strong new upward trend. The volume traded has improved to the point where it is a viable investment for private investors.
JSE:GML
by PDSnetSA