London midday: Stocks gains ahead of US earnings season
8th Apr 2013 11:46
UK stocks were making gains on Monday morning, rebounding after a steep sell-off on Friday, as investors showed optimism ahead of the new US earnings season which kicks off later this evening. Stock futures on Wall Street are pointing to a positive start when the opening bell rings in a few hours'
Read moreGemfields concerned with potential sale restrictions in Zambia
8th Apr 2013 08:05
AIM-listed gemstone miner Gemfields could be hit by a possible ban by the Zambian government of its ability to sell stones outside of the country, the firm announced on Monday morning, causing shares to tank early on. "Such measures are potentially detrimental to the Zambian gemstone sector and wou
Read moreGemfields revenue hit by fewer auctions
4th Mar 2013 10:49
AIM-listed mining company Gemfields posted a decline in revenues for the half year ended December 31st, which pushed net profit after tax for the period firmly lower. The group, which blamed the decline on fewer auctions occurring during the period, delivered a pre-tax profit of $9.4m (2011: $31.1
Read moreFabergé shareholders approve merger with Gemfields subsidiary Runway SPV
20th Dec 2012 07:32
AIM-listed mining company Gemfields has announced an update on the proposed acquisition of high-end jewellery firm Fabergé. At Fabergé's general meeting on December 17th, Fabergé shareholders approved the merger of Fabergé with Runway SPV, a wholly owned subsidiary of Gemfields. Gemfields reported
Read moreGemfields acquires 75 per cent stake in Mozambican ruby mine
7th Dec 2012 07:36
AIM-listed mining company Gemfields gas has snapped up a 75 per cent stake in a Mozambican ruby project. The company, which has a market capitalisation of £99.59m, entered into a conditional agreement to acquire a controlling interest in an additional ruby deposit located adjacent to the company's
Read moreMonday newspaper round-up: Barclays, Taxes, Gemfields,
26th Nov 2012 06:24
Some of Barclays's biggest investors have urged Antony Jenkins, the bank's new chief executive, to take an axe to its investment bank. At meetings with investors in recent weeks, at least three of the 30 biggest shareholders have told Mr Jenkins and other senior Barclays executives that the UK group
Read moreGemfields proposes acquisition of luxury jewellery company
21st Nov 2012 14:00
Gemfields, a gemstone miner and marketing company, is proposing to acquire the entire issued share capital of luxury jewellery company Fabergé by way of merger in the Cayman Islands, in a bid to create 'a globally recognised coloured gemstone champion'. Under the deal, the two companies will merge
Read moreSector movers: Miners gain on Chinese stimulus hopes
9th Oct 2012 16:00
The mining sector shrugged off some disappointing growth figures out from the International Monetary Fund (IMF) on Tuesday to trade broadly higher on hopes of economic stimulus in China. China's central bank injected 265bn yuan (£26bn) into the world's second-largest economy in reverse repurchase a
Read moreGemfields profits leap as sales double
9th Oct 2012 11:03
Gemfields, the AIM-listed emerald miner, posted a 140 per cent leap in profit before tax and exceptional items for the year ended June 30th after revenue from emerald and beryl sales more than doubled. Revenue for the period came in at $83.7m (2011: $40.2m), while the total cost of sale rose $7.0m
Read moreWednesday broker round-up - UPDATE
3rd Oct 2012 09:06
African Barrick Gold: Westhouse Secuirites raises target from 464p to 495p. AG Barr: Panmure Gordon keeps hold rating and 440p target. AstraZeneca: Panmure Gordon downgrades from buy to hold, target cut from 3,100p to 3,000p. Barclays: UBS downgrades from buy to neutral, 235p target unchanged. B
Read moreGemfields rises on resource update
2nd Oct 2012 12:28
Shares in emerald miner Gemfields rose over nine per cent on Tuesday after the company announced a JORC compliant indicated mineral resource of 2.75m tonnes of emerald and beryl at 365 carats per tonne. The company also unveiled a JORC compliant inferred mineral resource of 9,200 tonnes of emerald
Read moreFTSE 100 movers: Miners down on Japanese data
22nd Aug 2012 14:32
Metals and mining stocks dropped today after Japanese trade data disappointed, weighed on the outlook for demand. BHP Billiton fell after saying that weakness in commodity markets and industry-wide cost pressures resulted in earnings declining in the first half. The group also decided against spen
Read moreGemfields increases production after delays
22nd Aug 2012 09:26
Emerald miner Gemfields said a new focus on waste mining and previously reported delays meant production at its mines was down a third in the last year. However, the trading update also said recent quarters had delivered improving production volumes, a trend the firm was likely to continue in the n
Read moreSunday tips round-up: Gemfields, Old Mutual, JD Wetherspoon
11th Mar 2012 10:29
Precious stone miner Gemfields has embarked on an expansion plan which, to date, seems to be reaping good returns. Thus, Gemfields owns 75% of one of the world´s largest sources of emeralds, the Kagem mine in Zambia. Since its purchase three years ago the new management team has turned around the fo
Read moreGemfields sparkles
5th Mar 2012 14:45
Coloured gems producer Gemfields is looking forward to ramping up production at it flagship mine in Zambia having laid the groundwork with a lengthy stint of waste removal. Revenue in the six months to the end of December 2011 rose to $45.73m from $29.05m in the corresponding period of 2010. Profit
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