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Why Gemfields boss sees red (rubies)

By Robert Tyerman | Wednesday 5 March 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.


Gemfields (GEM), the diversified emerald miner which owns the Faberge luxury jewellery brand, is looking to its 75 per cent-owned Montepuez ruby deposit in Mozambique to play a ‘very significant role’ in future growth, says chief executive officer Ian Harebottle. He says this in the wake of encouraging first-half revenue growth and pleasing auction results.



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