Pallinghurst Resources yesterday reported the highest revenue for gemstones and the highest revenue per carat after its rough ruby auction in Singapore netted it about R500 million, it said in an announcement. Pallinghurst’s Gemfields auction saw auction revenues of $43.3m (R497.5m), the highest ever achieved at any Gemfields auction and realised an average price of $689 per carat, the highest ever achieved at any Gemfields auction. The miner sold a total of 62 936 carats at the auction. “The two Montepuez auctions held since June 2014 have generated $76.8m in aggregate revenues. The auction revenue of $43.3m includes the successful sale of an exceptional 40.23 carat rough ruby from Montepuez,” the group said. Investor interest in Pallinghurst picked up slightly in September when it announced interim results.
Pallinghurst shares on the JSE were up 0.99 percent at R4.09 .– Banele Ginindza