Edison recently visited the Kagem emerald mine site in Zambia. This was a timely appreciation of the potential benefits of the well-advanced major high-wall push-back at the Chama pit, trial underground operations, other open-pit exploration targets and gem recovery systems. The Gemfields (GEM.L) Q3 market update showed a strong cash position ahead of one more emerald auction in mid-June.
Kagem open pit and underground trials
Management has delivered a consistent high-quality product giving financial strength to embark on capital projects to ensure longevity. This includes a high-wall push-back that could be extended if positive commercial factors for open pit mining prevail. Underground mining trials continue in parallel with this strategy.
Treatment plant and sort house and exploration sites
Gemfields may introduce more sophisticated designs to the treatment plant sort house, which could improve both emerald recovery and security of both facilities. Active exploration sites were viewed and could also support additional open pits to increase overall production and allow flexibility of operational sites.
Valuation
The confirmation of a fourth auction in this financial year supports our NPV10% valuation based on projections from current operations, at 43p/share. Increased resource definition, continued strong markets and development of new production sites, together with new coloured gemstone prospects under investigation, should further raise our valuation and enhance Gemfields’ market ratings.
To Read the Entire Report Please Click on the pdf File Below.
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Gemfields: Report On Mining Site Visit And Q3 Production
Published 06/07/2012, 03:04 AM
Updated 07/09/2023, 06:31 AM
Gemfields: Report On Mining Site Visit And Q3 Production
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