Gemfields: JSE investors left cold by emeralds and rubies
After a fairly dismal run in Johannesburg, management is now planning a return to London for a dual listing
Gemfields is an odd stock to watch. Despite it telling a great story about its emeralds and rubies in Zambia and Mozambique, and bringing a De Beers-type diamond model to the gemstone world, the share has simply failed to ignite.
It’s not for the lack of trying, but a look at its performance on the (https://www.sharenet.co.za/v3/quickshare.php?scode=GML)JSE (https://www.sharenet.co.za/v3/quickshare.php?scode=GML) shows investors just aren’t buying the story.
Gemfields was listed in London during its time as a subsidiary of Pallinghurst Resources, a resource investment holding company that didn’t shoot the lights out despite boasting Brian Gilbertson as its chairman...