A selection of rough emeralds mined by London-based colored gemstone miner Gemfields. The company’s biggest shareholder, Pallinghurst Resources, has offered to buy it out, citing disappointment with the company’s share price.

London–Gemfields biggest investor has made an unsolicited offer to buy out the remaining shares of the company but the miner’s board said it has advised sharelders not to take action yet.

London-based private equity firm Pallinghurst Resources Ltd. has offered to buy the 53 percent of Gemfields it doesn’t already own for about $145.2 million.

Gemfields said in a company statement that Pallinghurst has not engaged with it regarding the unsolicited offer and that its independent board is reviewing the offer with its advisers.

Read more : nationaljeweler.com