Edison Investment Research - Gemfields Group (GEM) Gemfields Group - Marching towards March 2021 auctions

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Edison Investment Research

Alison Turner

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).

16/12/2020 8 EN

Underlying

Gemfields Group

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GG00BG0KTL52 London Stock Exchange Guernsey

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alison Turner

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Gemfields Group - Marching towards March 2021 auctions

Gemfields Group - Termination of coverage

Gemfields Group (GML): Coloured gemstones' time to sparkle and shine

Gemfields Group - Coloured gemstones’ time to sparkle and shine

On the Beach Group - Feeling festive

Pan African Resources - An accounting storm in a legal teacup

Cereno Scientific - All eyes on Q3 readout after Q1 update

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