Author Archives: Henry

7 Myths About Jewellery & Gemstones To Dispel

There are a few interesting myths people believe in. This curious phenomenon covers every sphere of our life, jewelry included. Here is a list of the 7 myths about precious metals and stones most of us believe in yet the reality is different.

Find out what the truth is!

1. Diamonds are the rarest stones
Diamonds are rear and rather difficult to find. Nevertheless, there even rarer gems in nature. This is the fact and it is recorded in the Guinness Book. It is interesting that there is no other precious stone that is as rear and special as painite.

2. Gold of three different colors
Shop assistants will probably ask you which gold you prefer: rose, yellow or white. Pure gold is always yellow. It changes its color only when other compounds are added. No matter how expensive and beautiful the jewelry is, if it is made of gold that has rosy or white color, it means that the gold is not pure.

3. Gold testing through biting
We all have heard that you can tell if the gold is real by biting it. They say that gold is a soft metal and if you bite it hard enough, you will see teeth marks in it. Actually, there are more metals that as soft as gold and have the same color. If you trust this myth you can one day buy a different metal instead of gold!

4. Indestructible diamonds
That’s myth number one. People think that diamonds are unbreakable. In fact, they can chip or crack. The truth is that the structure of the diamond is different from that of other materials. Diamonds are stronger than any other mineral and can cut or scratch most other materials. However this feature does not make them indestructible.

5. Pearls dissolve in vinegar
You can find a grain of truth in this statement. Of course it would take quite some time plus you would need to crush them first. It is very unlikely that you are going to carry out such an unusual experiment to test and prove the fact.

6. Opals attract bad luck
In Ancient Rome people considered opals to bring good luck. Times have changed and nowadays this precious stone is thought to attract bad luck. It is up to you to decide whether you believe this prejudice or not. The fact is that black opals are very unique and rarely found hence they are expensive.

7. The color of diamond reflects in its price
Diamonds are never cheap. Some say that the most precious hence the most expensive type of diamond is the blue diamond. As a matter of fact, there are other not less important criteria by which experts estimate the true value of the gem, such as its clarity, cut, carat weight and so on.

www.worldwidediamonds.info

Henry Sapiecha

Sales at Myanmar’s jade expo less than last year

The overall numbers are big:

www.worldfairs.org

  • 6,561 pieces of jade exhibited
  • 5,092 sold
  • 326 gems, among them rubies and sapphires, showcased
  • 105 gems sold
  • $612.4 million in total sales
  • Nearly 2,000 local entrepreneurs and 200 foreign business people in attendance

However, results from the 2017 Jade and Gems Emporium are 3 per cent lower than last year’s in terms of the amount of cash the event made, says Deal Street Asia.

The 54th edition of the expo, which is organized by Myanmar’s Ministry of Natural Resources and Environmental Conservation and the Jade and Gems Emporium Central Committee, was held from August 2-11 in Nay Pyi Taw.

www.worldwidediamonds.info

Besides rough jade and gems, the trade show included cut and polished gemstones, jewelry, jade carvings and gemstone pictures that were sold in euros through an open tender system.

Myanmar -or Burma- has a +$31 billion jade industry, which is the source of nearly all of the world’s finest greenstone and it’s a magnet for foreign capital, with China being its number one buyer.

Nearly half the Southeast Asian country’s GDP comes from jade mining.

www.www-globalcommodities.com

Henry Sapiecha

China’s Fosun sweetens the pot for offer on Gemfields

Emeralds and rubies miner Gemfields (LON:GEM) is encouraging its minority shareholders to accept an improved takeover bid from China’s Fosun International, despite considering it unfair, to avoid being bought-up by its largest shareholder.

The London-listed miner told investors Tuesday that while the terms of Fosun’s proposal are “not fair or reasonable,” the offer from South African private equity group Pallinghurst, Gemfields’ biggest shareholder, is even more “derisory.”

The precious stones miner has recommended shareholders to accept Fosun’s new offer, despite considering it “unfair” and “unreasonable.”Fosun Gold, a unit of Fosun International, increased Tuesday its offer for Gemfields to 45 pence per share from an earlier proposal of 40.85 pence per share. That’s an 18% premium compared to Gemfields’ share price before it first announced it had received an unsolicited bid.

The sweetened offer trumps Pallinghurst Resources’ rival bid of 38.5 pence to acquire the 53% of the coloured gems producer it does not already own.

Fosun chief executive Wang Qunbin said his company was impressed by Gemfields’ “long-term business potential, in particular in the China market”, adding that its cash offer provides a “compelling alternative” to Pallinghurst’s all-share bid.

Gemfields’ board did not share Qunbin’s enthusiasm, noting that Fosun’s new bid still represents an 18% discount to where the company’s shares traded only six months ago.

It also said it would to pay the Chinese miner a break fee of $2 million by way of compensation if a competing proposal becomes or is declared wholly unconditional.

Shares in the company jumped almost 5% in the first hour of trade in London to 43.50 p and while it lost a few points later, it was still 4.62% higher to 42.50 p by 3:00 PM local time.

Gemfields, which owns the luxury Fabergé jewellery brand, is the world’s biggest coloured gems producer, accounting for roughly a third of the world’s emeralds and rubies from two mines in Mozambique and Zambia.

Last week, the company broke its own record by achieving the highest revenue from its latest auction of rough rubies.

Henry Sapiecha

China’s Fosun heats up control of Gemfields with 10% bid share premium

Actress Mila Kunis is Gemfields’ brand ambassador. (Photo by Mario Sorrenti. Courtesy of Gemfields.)

Emeralds and rubies miner Gemfields (LON:GEM) may become the centre of a bidding war as China’s Fosun International has approached the company with an attractive offer, which comes only a month after the gems producer rejected a bid from its largest shareholder.

Gemfields, which owns the luxury Fabergé jewellery brand, believes its talks with Fosun will result in a cash offer at a “superior value” to Pallinghurt’s unsolicited bid.

The proposal by Fosun Gold, a unit of Fosun International, values the London-listed company at £225 million ($288m), while South African private equity group Pallinghurst attempted to buy Gemfields in May at its current valuation of £195 million ($250m).

“Gemfields represents a compelling opportunity to continue to develop a leading gemstone producer with a dominant position in both global emerald and ruby production and a strong consumer brand,” Fosun said.

Shares in the company shot up more that 13% in the first hour of trade in London reaching 40.31p by 2:25PM local time, just below the 40.85p offered by Fosun. That value represents 15.1% premium to the miner’s June 13 closing price, and a 10.1% premium to the current implied price per share contained in Pallinghurst’s offer.

Gemfields, which owns the luxury Fabergé jewellery brand, said it believes its talks with Fosun will result in a cash offer at a “superior value” to Pallinghurt’s unsolicited bid, which remains open for acceptance until July 4.

The company repeated its call to shareholders to take no action after the Pallinghurst offer, which it said undervalued it.

Gemfields is the world’s biggest coloured gems producer, accounting for roughly a third of the world’s emeralds and rubies from two mines in Mozambique and Zambia.

Henry Sapiecha

Ruby sales record at Singapore auction set by Gemfields

The miner is currently a takeover target from Chinese and South African interests.

At the auction, held in Singapore, the company sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

Of the 83 lots offered, 78 were sold with an average realized price of $61.13 per carat, the miner said. Al the stones offered were extracted by Gemfields’ 75%-owned Montepuez Ruby Mining at the deposit of the same name in Mozambique.

Since June 2004, the gems producer has held eight auctions for precious stones mined at the Montepuez deposit.

Gemfields, which owns the luxury Fabergé jewellery brand, is the world’s biggest coloured gems producer, accounting for approximately a third of the world’s emeralds and rubies from two African mines in Mozambique and Zambia.

Henry Sapiecha

Gemfields steps up fight against takeover by largest investor


Actress Mila Kunis is Gemfields’ brand ambassador. (Image: Screenshot from Gemfields 2014’s advert| YouTube)

Emeralds and rubies miner Gemfields (LON:GEM) said Wednesday a group of independent directors recommended shareholders to reject a takeover bid by largest investor Pallinghurst Resources Limited.

The Johannesburg-listed private equity firm wants to buy all the shares it doesn’t already own in Gemfields, but an “independent committee” formed by the precious stones miner has determined the offer “significantly undervalues the company, its unique asset base and its leading position in the coloured gemstone sector.”
“Pallinghurst Resources wants to buy all the shares it doesn’t already own in Gemfields, but miner said offer is “derisory.””

Shares in Gemfields fell on the news, closing 1.10% down in London to 33.75p.

The group of advisers is made up of chairman Graham Mascall, chief executive Ian Harebottle, chief financial officer Janet Boyce and non-executive directors Clive Newall and Finn Behnken.

Despite their close ties with Gemfields, the company said it considered the committee to be “free from conflicts of interest in respect of the unsolicited offer”.

Gemfields is the world’s biggest coloured gems producer, accounting for roughly a third of the world’s emeralds and rubies from two mines in Mozambique and Zambia. The miner also owns the luxury Fabergé brand.

Pallinghurst also has interests in the platinum and manganese sector in South Africa, but Gemfields is the assets where it has the largest share. The firm has until June 16 to release full details of its offer for Gemfields under Takeover Panel rules.

Henry Sapiecha

The beautiful Kashmir blue sapphire video & description

 

The iconic, velvety blue of Kashmir sapphires places these rare gemstones in an exclusive class of their own. The Pride of Kashmir, a 20.22-carat sapphire to be offered in Sotheby’s Magnificent Jewels & Jadeite sale in Hong Kong, presents a once-in-a lifetime


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Henry Sapiecha

Gemfields fetches $29 million in Singapore rubies auction

gemfields-fetches-29-million-in-singapore-rubies-auction image www.www-gems.com

Rubies from Montepuez, located at a geologically critical junction between the north-south trending Mozambique Belt and the east-west trending Zambezi Belt.

Shares in Gemfields (LON:GEM) climbed Monday as the precious stones miner said it generated sales worth almost $29 million from its latest ruby auction held in Singapore, with prices meeting expectations.

The company’s stock was up 3.4% to 40.84 pence in mid-afternoon trading in London. However, Gemfields value has dropped about 12% so far this year as the diamond and other precious stones industry has not remained immune to a relentless rout in commodity prices.

Gemfields managed to sell 90,642 carats of the 92,136 carats it made available under the auction

Gemfields managed to sell 90,642 carats of the 92,136 carats it made available under the auction, which consisted of a mix of higher and medium quality stones from its relatively newly acquired Montepuez deposit in Mozambique.

The event was third auction held by the company in the current financial year, which ends in June 2016. The first two were either comprised of higher-quality emerald or lower-quality emerald and beryl from its other Kagem mine, making it hard to compare the results, said the company.

Until recently, Gemfields was synonymous with emeralds. But the world’s biggest producer of the green gemstone has done quite well with Montepuez. A cache of exceptional-quality rubies from this mine have made their way onto jewels by the likes of Fabergé, Georg Jensen and Miiori – modelled by brand ambassador actress Mila Kunis.

The miner has said it expects trading in gemstones to account for a “sizeable chunk” of its revenue over the next five to 10 years.

The next auction, to be held in March, will be of predominantly higher quality emeralds from its Kagem emerald mine in Zambia.

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Henry Sapiecha

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www.worldwidediamonds.info

HENRY SAPIECHA