Gemfields issued over one million shares in relation to recent deal pertaining to the Montepuez ruby licence, which it acquired in Mozambique earlier this year.
The gemstone miner acquired a 75 per cent interest in the licence in February for $2.5 million.
The shares in the amount of 91,049,990 started trading on 6 July, bringing the total capital in issue to 325,756,541 shares.
The Montepuez project comprised of mining and exploration rights covering approximately 34,000 hectares and was believed to be potentially one of the largest ruby concessions in private hands in the world.
Gemfields’ core business had been on emeralds mined at its Kagem mine in Zambia.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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