Fura Gems Becomes The First Public Company To Own Mines Producing The Big 3 Gemstones

2020 marked a new record (nicknamed 3/3 by our editor) for the Toronto listed gem mining and marketing company, Fura Gems, for being the only public listed company that owns and fully operates different gemstone mining projects across three different continents extracting the big 3 gemstones after recently acquiring the Capricon sapphire project in Queensland, Australia.

On June 26, 2019, Richland Resources Ltd which previously owned the project, transferred all of its issued shares wholly owned by its subsidiary company, Richland Corporate Ltd. Capricorn comprises two mining permits (EPM 25973 and EPM 25978) and three mining licenses (ML 70419, ML 70447 and ML 70451) and Fura Gems bought 100% of all these licenses.

We are very pleased to complete the Acquisition, which results in Fura becoming the only public gemstone mining and marketing company in the world to hold emerald, ruby and sapphire mining assets (being all three coloured gemstones).

Dev Shetty, President & CEO – Fura Gems

Fura Gems settled US$1,250,000 in cash to the companies owed by the previous company. US$880,000 was paid directly to the Lender in order to settle the total amount outstanding under the Company’s pre-existing Secured Convertible Loan Facility.

Capricon sapphires come in different shade of colors including; the royal to midnight blues, sunshine yellows, leaf to pine greens and bi to tricolored sapphires.

Other assets previous acquired by the company include the Coscuez Emerald mine in Columbia and the Montepuez ruby mining project in Mozambique. Fura’s headquarters are located in Toronto, Canada, and its administrative headquarters are located in Dubai.

Photo: Capricon Sapphire

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