Currently Pallinghurst owns 47% of the securities Gemfields and plans to move to the role of a diversified mining company instead of an investment fund.
"An independent committee is unanimous in its opinion that Pallinghurst offers a ridiculous fee, and clearly underestimates the company Gemfields has an exceptional management team with a clear strategy of providing additional shareholder value on a standalone basis, thanks to our unique asset base.", - said chairman of the Grem Maskall independent committee ( graham Mascall).
"Independent Committee believes that the unsolicited proposal may bring in shareholder value Gemfields assets of a lower level, which will provide access to more volatile categories of raw materials less attractive prospects", - he added.
Maskull also said the unsolicited offer, apparently, due to the expected restructuring of Pallinghurst, which seeks to protect its own interests at the expense of investment managers of independent shareholders Gemfields.
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Meanwhile, in the fourth quarter, production was slightly lower than in the third, due to stop processing facilities needed to manage inventory. In 2014, Diavik production decreased due to stop processing enterprises rocks and in the absence of stockpiled rock for processing, since it was completed in the first half of 2014. In the fourth quarter production at Diavik fell slightly, as an increase in the quality of mined diamonds offset a decrease in the level of processing of the breed.
Rio Tinto Diamonds said that it will continue to optimize production to meet market requirements.
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