Gem Resources (LSE:GEMR) reported a loss before tax of £614,000 for the six months ended 30 June 2026, while outlining changes to its financing and natural resources portfolio.
The first-half result included a fair value loss relating to the company’s Bitcoin treasury holding as well as higher finance costs.
Following the end of the reporting period, £1.79 million of director loans and fees were converted into equity. The transaction reduced the company’s debt obligations and preserved cash that would otherwise have been required to settle those amounts.
Gem Resources Agrees £750,000 CREC Acquisition
Gem Resources has conditionally agreed to acquire Colombia-based gold processor CREC Material Co S.A.S. in an all-share transaction valued at £750,000.
CREC operates the El Yarumo gold processing plant in Colombia. Gem Resources said the proposed acquisition forms part of its strategy to increase its exposure to operating and revenue-generating natural resource assets.
Completion of the acquisition remains subject to the applicable conditions.
Gravelotte Operations Scaled Back
The company is reducing activity at its Gravelotte emerald mine in South Africa amid weaker conditions in gemstone markets.
Gem Resources is also considering a potential sale of the Gravelotte operation as it reviews the composition of its asset portfolio.
In Australia, the company is assessing a phased restart of operations at the Curlew Emerald Mine.
The developments form part of Gem Resources’ plans to diversify its activities beyond emerald mining and increase its exposure to operating natural resource and mineral-processing assets.
About Gem Resources
Gem Resources is a London-listed natural resources company with mining interests in South Africa and Australia.
The company has historically focused on emerald assets but is seeking to develop a broader portfolio of mining and mineral-processing operations. Its treasury holdings also include limited exposure to Bitcoin.
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