Analyst Research Report Snapshot

Title:

GEMFIELDS - FY12 AUCTIONS GENERATE $77.9M

Price:

$10.00

Provider:

Edison Investment Research

Date:

28 Jun 2012

Pages:

1

Type:

AcrobatPDF

Companies referenced:

GEM.L

Available for Immediate Download
Summary:

Gemfields reports that the four auctions in the financial year to June 2012 have realised US$77.9m. The final auction of predominantly lower-grade material showed a lack of interest in the lowest-quality emerald and beryl roughs. We slightly reduce our financial estimates for the current year, but assume Gemfields will sustain operational, marketing and inventory management success and maintain our longer-term forecasts and our NPV10% valuation of 43p/share.

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