RESOURCES
Pallinghurst in the black again with gems’ help
Volatility has been the biggest challenge for Pallinghurst during the last 12 months
Pallinghurst Resources swung out of a $149m loss in financial 2015 to a $45m profit for the year to December 2016 as its core Gemfields business raked in record revenues. Brian Gilbertson, chairman of the gemstone and platinum group metals (PGMs) investment holding company, says volatility has been the biggest challenge for Pallinghurst during the last 12 months. But he says that in recent years, Gemfields has made significant strides towards becoming the "De Beers for coloured gemstones". "The company is now the world’s largest emerald and ruby producer, supported by its unique … auction platform," Gilbertson said on Wednesday.
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