JOHANNESBURG (miningweekly.com) – Aim-listed coloured gemstone producer Gemfields on Wednesday stated that negotiations with Rox Conduit (RoxC) regarding a possible takeover of Gemfields had been discontinued.

The decision was taken after consideration of the indicative terms of the possible offer, and consultation with Gemfield’s major independent shareholders, the company stated.

Gemfields said in a statement that while it had advised RoxC of its decision, it had no notion if RoxC would pursue its interest in the possible offer on the same or revised terms. However, Gemfields added that it remained in an offer period.

In June, Gemfields stated that RoxC was considering an offer of 8p for every Gemfields ordinary share.

Gemfields, which owns the Kagem emerald mine in Zambia, forms part of Pallinghurst Resources.

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