Message Mar 3 Mar 2015 12:15

Results - Lusaka Rough Emerald, Beryl and Amethyst Auction

Gemfields plc (AIM: GEM) is pleased to announce the results of its auction of predominantly lower quality rough
emerald and beryl from the Kagem emerald mine, held in Lusaka, Zambia from 24 to 27 February 2015. The auction
also included higher quality amethyst from Kariba Minerals Ltd, in which Gemfields has a 50% interest.

Amethyst auction revenues of USD 0.45 million;
o The average realised price was 1.77 US cents per carat; and
o Of the 27.7 million carats offered for sale, 25.2 million carats were sold (91%)

Amethyst Auction
This auction of rough amethyst from Kariba Minerals Limited (in which Gemfields has a 50% interest) was the first
to be held within Zambia. Gemfields has hosted only one prior rough amethyst auction which took place in Jaipur in
March 2011 and was used to test demand for amethyst in that market.
The amethyst auction saw 27.7 million carats of higher quality amethyst extracted from Kariba placed on offer, with
13 of the 14 lots offered being sold, generating auction revenues of USD 0.45 million. The amethyst auction realised
an overall average value of 1.77 US cents per carat.
Ian Harebottle, CEO of Gemfields, commented:
"We’ve set another record for realised per carat prices at an auction of lower quality emerald and beryl, and have
now completed seven successful auctions in Zambia, all during the last 22 months.
It is pleasing to see a total of 88% of the total value of the lots placed on offer being bought and Zambian emeralds
continuing to enjoy such firm demand. Gemfields is increasingly becoming the supplier of choice for many of the
world’s leading polishing and jewellery-manufacturing houses.
We look forward to our auction of lower quality Montepuez ruby in Jaipur later this month where we believe the
market is as excited as we are to be a part of this first ever offering of such a considerable volume of non-domestic
ruby rough in India.