Stock data
| Market cap. | £116.8m |
| Last close | 36.00p |
| High / Low (52 weeks) | 42.1p / 16.8p |
| Stock market listing | AIM |
| Forecast net cash (US$m) | 41.9 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 1.77 | 60 | 71.43 |
| Relative * | 6.76 | 73.14 | 88.39 |
* % Relative to local index
Other companies covered in sector
| Y/E Jun | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 19.9 | 2.0 | (2.0) | (0.4) | N/A | 115.5 |
| 2011A | 40.2 | 22.3 | 19.6 | 5.0 | 11.6 | 10.9 |
| 2012E | 84.0 | 53.7 | 45.5 | 6.9 | 8.4 | 3.3 |
| 2013E | 91.5 | 59.9 | 45.8 | 6.7 | 8.7 | 3.4 |
Last updated on 20/04/2012
Latest research
Auctions continue apace
Update | Mining | 10/04/2012
Transition phase
Update | Mining | 19/03/2012
Sales remain strong
Review | Mining | 15/12/2011
Sparkling results
Update | Mining | 05/10/2011
Geared for growth
Review | Mining | 17/08/2011
Emerald auction success
Update | Mining | 23/03/2011
Emeralds back in favour
Outlook | Mining | 14/03/2011
Investment summary
Three emerald auctions in FY12 so far achieved sales of US$68.9m and there will be a forth auction of lower-quality rough stones in June. This continues to support management's marketing initiatives, with the strong demand and rising status of Gemfields' ethical Zambian emeralds. Mining operations are in a transition phase with high volumes of waste rock removal to increase potential resource definition and operational efficiencies at Kagem, the world’s single largest producing emerald mine, plus assessment of both underground exploitation and new open pits. We will report more on the operations after our forthcoming site visit.
Last updated on 23/04/2012
Industry outlook
In addition to further expansion of emerald operations, Gemfields is assessing other opportunities in the coloured gemstone sector, including a ruby deposit in Mozambique and prospects in Madagascar. Management recognises the challenges involved in new ventures and will continue to implement a prudent risk strategy.
Last updated on 23/04/2012
Key management
| Graham Mascall, Chairman |
| Ian Harebottle, CEO |
| Dev Shetty, CFO |
Company address
| 54 Jermyn Street 8th Floor London SW1Y 6LX United Kingdom View website |
