GML Trading Statement Bearish

GEMFIELDS GROUP LIMITED - Trading Statement for the year ended 31 December 2025

Gemfields Group Limited
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What this filing means

Gemfields expects to report a 44.8% improvement in headline loss per share for FY25, though persistent operational delays and constrained cash generation force a near-term focus on balance sheet deleveraging.

Bull case

  • Headline loss per share in ZAR terms is expected to improve by 44.8% to ZARc 21.6, reflecting a mathematically improved bottom line.
  • Basic loss per share is projected to narrow significantly by 69.0% to ZARc 40.0.

Bear case

  • The commissioning of the critical PP2 processing plant at Montepuez Ruby Mining is delayed and now expected to continue into the first half of 2026.

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Category
Trading Statement
Event posture
Bearish Continuation
Published
Mar 24, 2026

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