Tiny Gem

GEMXX Corp. (GEMZ) Reports Rise in Earnings, Assets, and Income in 2023, Prepares for Further Strategic Growth in Coming Year

  • 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

About TinyGems

TinyGems is a specialized communications platform with a focus on innovative small-cap and mid-cap companies with bright futures and huge potential. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TinyGems is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, TinyGems brings its clients unparalleled recognition and brand awareness. TinyGems is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TinyGems, text “Gems” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TinyGems.com

Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.com/Disclaimer

TinyGems
Los Angeles, CA
www.TinyGems.com
310.299.1717 Office
Editor@TinyGems.com

TinyGems is powered by IBN

Christian Amiscua

Share
Published by
Christian Amiscua

Recent Posts

New Scanning Method Could Improve How Brain Tumors are Treated

Researchers from NHS Grampian and the University of Aberdeen have been granted funding to study…

5 days ago

D-Wave Quantum Inc. (NYSE: QBTS) Partners with Yonsei University and Incheon City to Advance Quantum Adoption in South Korea

The three parties signed an MOU focusing on research collaboration, education, and commercial use case…

6 days ago

Study Explains Why Most Smokers Never Get to Develop Lung Cancer

Newly published research has uncovered why most smokers don’t develop lung cancer even after years…

1 week ago

SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Among Early Adopters of Bitcoin Treasury Strategies Amid Growing Trend

SolarBank Corporation joins a group of 61 public companies adopting bitcoin treasury strategies. The company…

2 weeks ago

Trump Signs Measure Overriding EV Mandate, a Blow to Musk and California

President Donald Trump has signed a measure that will override California’s electric vehicle mandate and…

2 weeks ago

Scientists Say Proposed North Sea Oil, Gas Field Contradict Paris Climate Goals

A recently published study has found that the proposed North Sea gas and oil field…

2 weeks ago