- Las Vegas-based mine-to-jewelry maker GEMXX Corporation is reporting a 600 percent YOY jump in product delivery values for the month of January
- The company produces iridescent Ammolite jewelry that it obtains from its own gem mines in Alberta and gold mines in British Columbia, controlling each step in its production chain with no long-term debt
- GEMXX entered the gold market during the past year, enjoying the precious metal’s stability and record prices amid outside economic fluctuations
- GEMXX is working to improve its valuation, anticipating S-K 1300 technical reports on four assets will further improve the company’s balance sheet
North American mining and jewelry-making company GEMXX (OTC: GEMZ) is reporting the latest evidence that last year’s gamble on the gold market has paid off, bringing the mine-to-market enterprise a remarkable 600 percent YOY increase in the value of its product deliveries.
Approaching the end of February, gold prices continued to hold steady above the $2,000 per ounce mark despite a stronger dollar and elevated U.S. Treasury yields (https://ibn.fm/0brY9), keeping the precious metal in record territory after a stellar increase over 2022 demand during the past year (https://ibn.fm/k1fTR).
GEMXX specializes in the mining of Ammolite, a rare, opal-like gemstone that is only found on the eastern slopes of the Rocky Mountains in Southern Alberta, and last year expanded into the mining of gold to complement the historical resources that undergird its jewelry production strategy.
On Feb. 13, the company reported product deliveries worth $1,051,374 at retail for the month of January, highlighting the success of GEMXX’s focus on operational efficiency and production of high-margin products.
“Our ability to achieve such significant deliveries is a clear indication of our competitive edge in this industry and our deep understanding of our customers’ needs,” CEO Jay Maull stated in the announcement of the company’s achievement (https://ibn.fm/QhDnv). “Our strategic investments in increasing proven resources are laying the foundation for sustainable long-term growth. … We are confident in our ability to not only meet but exceed our financial goals for the coming year.”
GEMXX plans to build on the year-opening report with further investments in exploration, drilling, surveys, geotechnical reporting, research and development, marketing strategies and expansion into new markets, the company states.
Its strategy is designed to further enhance shareholder value and increase the company’s strength.
GEMXX has $600 million in proven Ammolite reserves and $300 million in gold reserves, according to the company (https://ibn.fm/KD8gu). The company is pursuing S-K 1300 technical reports on four assets owned by GEMXX and Canadian exploration partner Crazy Horse Mining Inc. (CHMI), anticipating that recalculation of inferred mineral resources already owned but not represented on the balance sheet will improve the company’s balance sheet.
“Management feels GEMZ is significantly undervalued,” GEMXX President Richard Clowater stated in October (https://ibn.fm/0X86b). “As of Q3 2023, the company only reported $14.1 million for owned resources, but this value is only a fraction of what the company owns. We feel the Net Present Value could exceed ten times that amount once resources are confirmed by an independent expert.”
In November, the company reported it is planning to expand its Ammolite gemstone and jewelry production by 300 percent this year, supplying it through GEMXX’s shopping channel division (https://ibn.fm/XqPCt). Ammolite comes from the fossilized shells of ammonites, a group of large, extinct marine nautiluses that exhibit iridescent color qualities.
Because the company controls each stage of its production and has no long-term debt, it has a distinct competitive advantage over other players in the precious metals sector.
Those interested in participating through Reg A financing are encouraged to visit the company’s investor page (https://ibn.fm/tJa8C) or contact company officials for more information (ir@gemxx.com – 702-930-1815).
For more information, visit the company’s website at www.GEMXX.com/investors.
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://ibn.fm/GEMZ
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