Gem Resources sells first emeralds from revamped Gravelotte mine
London-listed Gem Resources has sold 8 130 ct in its first sales tender for emeralds produced from the Gravelotte mine, in South Africa’s Limpopo province.
Having generated $43 000 from the tender of mixed-grade emeralds, Gem confirmed the viability of the mine’s geological model, recovery process and potential for future commercial viability.
The sales also provided valuable price point information across different product categories for the company, which will assist in shaping future marketing and operational strategies.
Gem started with hard rock mining at Gravelotte late in January and started the production of mixed-grade emeralds in February.
Moreover, the company sold 819 g of low-grade green beryl material for $2 000 during the tender, which establishes a benchmark for by-product material produced from the mine, as well as 3 kg of emerald-bearing material from historic tailings for $12 000, which highlights the potential for incremental revenue from secondary sources.
The company ultimately generated $57 000 in revenue from the first sales tender, which compares with $50 000 having been spent on mining and processing. Gem is therefore moving closer to operational breakeven during this early ramp-up phase of Gravelotte.
Historically, the mine was one of the world’s largest emerald mines, which is now being pursued sustainably and efficiently using modern technology to revive this historically significant emerald mine.
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