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Gemfields sees red

By Robert Tyerman | Thursday 18 December 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Ian Harebottle, entrepreneurial chief executive officer of coloured stone supplier Gemfields (GEM), proclaims the AIM-quoted company  is working ‘to create the world’s pre-eminent ruby supply source’ after completing the $3.5 million (£2.25 million) purchase of two additional licences to mine the red gemstones in Mozambique, next to its existing 75%-owned Montepuez ruby deposit.


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