LAS VEGAS, Jan. 23, 2024 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation ( OTC: GEMZ ) ("GEMXX" or the "Company"), a leading provider of exquisite gemstone jewelry and mine-to-market gold producer anticipates significant growth over the next 24 months. The Company is strategically positioned to capitalize on the burgeoning demand for ammolite jewelry and the sustained upward trajectory in gold prices.
Ammolite
With ammolite becoming the official gemstone of Canada, it has rapidly gained recognition as a rare gemstone, becoming desirable around the world for its unique history and rich colors. The gemstone’s vibrant colors and limited availability make it a prized possession. GEMXX has experienced additional demand throughout India and Asia as the gemstone appeals to a discerning clientele seeking exclusive and collectible pieces.
Gold
GEMXX Corporation’s expansion into the mining of gold reserves in Canada is a new and welcomed asset to the Company’s balance sheet. Gold adds considerable support to the Company’s “Mine-to-Market” business model in three core elements affecting long-term sustainable profitability:
First, the Company can cut its raw material costs by roughly 60% by mining its own gold for its jewelry segment. These cost savings will not only reduce the cost of goods, but the savings will also be reflected in higher and predictable profit margins.
Second, with effective mining of the gold reserves, GEMXX will be able to accumulate reserves for future funding needs for the Company. Therefore, avoiding additional dilutive fundraising by issuing stock or taking on debt to fund the Company.
Third, investors will be able to participate in a stock based on precious metals and gemstones. With the price of gold today at approx. USD $2,000 per ounce, the future looks promising for gold as it is projected to reach new highs in the coming 24 months. Furthermore, as global economic uncertainties persist, investors are turning to traditional safe-haven assets, particularly gold.
GEMXX Corporation's diversified portfolio, including its gold-related ventures, positions the Company to benefit from the ongoing appreciation in gold prices. "We are excited about the tremendous potential for growth in both the ammolite and gold markets," said Richard Clowater, President of GEMXX Corporation. "Our commitment to quality, craftsmanship and our ability to adapt to market dynamics position us for sustained success. We are confident we will be able to deliver strong returns to our shareholders," further stated Clowater.
GEMXX Corporation's financial outlook aligns with these positive market trends, and the Company remains focused on expanding its product offerings, enhancing operational efficiency, and exploring strategic partnerships to maximize shareholder value.
Investors and stakeholders are encouraged to stay updated on GEMXX Corporation's performance as it navigates the evolving landscape of the jewelry and precious metals industry.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
For more information, please visit: GEMXX Corporation
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed. /S/ Jay Maull, CEO
GEMXX Corporation
For more information, please contact:
Corporate Communications:
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