Gemfields Group (GML) Investor presentation summary

Strategy and operations

• Aims to lead in African emeralds, rubies, and sapphires through transparency, trust, and responsible mining, with a focus on positive community impact.

• Operates the world's largest emerald (Kagem, Zambia) and ruby (Montepuez, Mozambique) mines, each supplying a significant share of global rough gemstones.

• Utilizes proprietary grading and transparent auction systems, with a marketing boost from the Fabergé luxury brand.

• Maintains partnerships with governments and prioritizes ESG accountability.

Growth initiatives

• Major capital investments ongoing, including a second processing plant at Montepuez to triple capacity by mid-2025.

• Kagem plant upgrade completed, increasing processing capacity by 50%.

• Eastern Ruby Mining (ERM) plant refurbishment expected to be completed in Q3 2025.

• Near-peak rolling 12-month capex in current cycle, with investment expected to moderate after 2025.

Financial performance

• H1 2024 revenue was $128.0 million, down from $153.6 million in H1 2023.

• EBITDA for H1 2024 was $49.6 million, with a margin of 38.8%.

• Adjusted earnings per share at 1.0 cents; free cash flow at $3.3 million.

• Net debt at $44.4 million as of June 2024, with $21.2 million net cash including auction receivables.