Business
Operations Update
Operations Update.
About this update from Gem Resources Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n\n \nGem Resources Plc (formerly URA Holdings plc)\n(\"GEMR\" or the \"Company\")\n \nOperational Update\n \nProcessing Plant Upgrades Completed and Phase 2 Operations commenced\n \nGem Resources Plc (LSE: GEMR) is pleased to provide an operational update regarding progress at its Gravelotte Emerald Mine (\"Gravelotte\") in South Africa.\n \n \nKey Highlights\n \n• Processing Plant Upgrades Completed: The refurbishment and upgrades to the processing plant have been successfully completed. The improvements included the installation of a double-deck vibrating washing and sizing screen, and other enhancements aimed at optimising throughput and minimizing downtime.\n \n• Increased Processing Capacity: During the first two weeks of operation (following the upgrades), the processing plant achieved an average increase of approximately 45% in processing capacity. This translates to an average of approximately 100 tonnes of ore processed per day.\n \n• Operational Reliability: Since completion of the upgrades, the plant has operated without any downtime related to breakdowns, a testament to the quality and durability of the enhancements.\n \n• Phase 2 Operations Commence: The success of the plant upgrades has enabled the Company to progress to Phase 2, with active mining operations now underway in the Cobra Open Pit. This marks a critical step tow...