Gemfields mulls rights issue as Covid-19 cuts auction sales by 90%
Gemfields has cut costs at its emerald mine in Zambia and ruby mine in Mozambique, with things looking ‘bleaker rather than better’ for rest of 2020
29 July 2020 - 11:46
Gemfields warned shareholders on Wednesday that it might have to issue shares to prop up the gemstone company’s finances as the Covid-19 pandemic wreaks havoc on production and auction sales revenue — which has fallen by 90%.
JSE-listed Gemfields has cut costs at its suspended emerald mine in Zambia and the halted ruby mine in Mozambique where government restrictions stopped operations...
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