- GEMXX Corporation is a Las Vegas-based jewelry maker developing its strategic gold metal and ammolite gemstone from a unique mine-to-market product pipeline
- Gold has enjoyed record high prices during a “roaring 2023” run, and price fluctuations surrounding those highs have failed to deter optimism that demand for the precious metal may remain during the coming year
- GEMXX is the only publicly traded ammolite gemstone company in the world, and plans to expand its gemstone and jewelry production by 300 percent next year
- The company reported upbeat earnings and no long-term debt in its recent Q2 financial statement
With the close of its 2023 mining test season, mine-to-market jewelry enterprise GEMXX (OTC: GEMZ) is celebrating positive outcomes from its mine assessment, debt management practices, and revenue operations, as it prepares for further growth in 2024. GEMXX reported upbeat earnings during its Q2 statement published Nov. 21, stating that its account receivables rose from $701,252 to $1.3 million YOY, total assets increased to $20.1 million, and net income grew from $132,842 to $212,526 — all while maintaining no long-term debt (https://ibn.fm/QOuV2). The company is led by an executive team with over 160 years of combined experience in the market, and gold’s continued demand strength has provided GEMXX’s leadership with encouragement as it pursues its long-term strategy.
The company is planning to expand its ammolite gemstone and jewelry production by 300 percent next year, with expectations of supplying $5.5 million worth of ammolite jewelry through GEMXX’s shopping channel division. The ammolite gems are derived from the fossilized shells of ammonites, a group of large, extinct marine nautiluses, and are prized for their iridescent coloration. Alberta is the only place the gemstones are commercially mined, and world-class gem cutters help GEMXX turn them into the distinctive jewelry for which it is becoming known.
GEMXX, unique in that the company draws on its own mining assets for the gold and ammolite gemstones it uses in colorful jewelry, is the only publicly traded ammolite gemstone company in the world, and lately has been exploring the potential of its gold resources as well.
The World Gold Council (“WGC”) continues to remain optimistic about the precious metal’s performance regardless of price fluctuations surrounding recent record highs.
“Heightened geopolitical tensions in a key election year for many major economies, combined with continued central bank buying could provide additional support for gold,” the WGC stated in its Gold Outlook 2024 report published earlier this month (https://ibn.fm/7s2nL).
“There’s no fiscal discipline in the United States. People have gotten used to free money. It’s going to be hard to tighten things up,” giant gold producer Barrick Gold Corp. CEO Mark Bristow added in a recent interview with the Financial Post (https://ibn.fm/7KkE1). “Overall, I feel gold has much more upside than downside risk looking forward.”
The company processed 31,200 cubic yards of gold-bearing ore yielding 0.929 ounces per 100 cubic yards at its 498-acre Snow Creek gold property in 2023 and expects to triple production at the site during the coming year, according to a separate Nov. 7 report (https://ibn.fm/uZgfK). Between Snow Creek and the company’s second British Columbia gold property, the Rosella Creek mine, GEMXX reports estimated production potential of over 100,000 ounces of easily recoverable gold (https://ibn.fm/b9nQn). GEMXX is working to acquire a third gold property with an estimated 2.2 million to 4 million ounces of recoverable gold.
GEMXX’s control over each stage of its production — from mining to processing the product and further to manufacturing end-product jewelry then worldwide distribution — gives the company 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/u1Sd0) 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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