Richland Resources Ltd Marketing and Online Sales Update (2271S)
06 Juli 2015 - 8:00AM
UK Regulatory
TIDMRLD
RNS Number : 2271S
Richland Resources Ltd
06 July 2015
Richland Resources Ltd
("Richland" or "the Company") (AIM: RLD)
Marketing and Online Sales Update
-- First product display and education sessions on Capricorn
Sapphire gemstones held during Hong Kong Jewellery Show (June
2015)
o 9 Potential sight holders attended Capricorn Sapphire sessions
including representatives from major retail distributors and
manufacturers
o Two formal site visits to Capricorn Sapphire mine to now be
undertaken with a selection of parties during Q3 2015 to view
operations including control of source integrity system
-- richlandgemstones.com online retail platform for fully
certificated coloured gemstones and jewellery has been launched
o Selected sapphires mined to date being cut in preparation for
sale on website
-- First sight sale scheduled for Q3 2015
Richland Resources Ltd, the gemstone producer and developer of
the Capricorn Sapphire project, today announces a marketing and
operations update to the market.
As previously announced and in consultation with interested
sight holder groups, the Company has held a display and education
session on the sapphires being produced in Queensland Australia at
the June 2015 Hong Kong Jewellery Fair (the "Show"). This followed
a slower ramp-up at the Capricorn Sapphire mine due to a now
rectified electrical issue and a decision to delay the first formal
sight sale of sapphires. During the Show Richland hosted sessions
with a series of wholesale gemstone distributors, jewellery
manufacturers and other interested parties on the Capricorn
Sapphire product offering namely:
-- Fully transparent and certificated sapphires from Australia
-- Stable production base with operations capable of supporting consistent supply
-- High quality and clarity blue and coloured sapphires
The education sessions covered the production and marketing
requirements of prospective sight holders. Some 10 prospective
sight holders attended the sessions where natural rough sapphires
from the mine were displayed. (See attached photos:
http://www.rns-pdf.londonstockexchange.com/rns/2271S_-2015-7-6.pdf
) Samples were made available to prospective sight holders for test
polishing and further market assessment and development.
Following the Show, two formal site visits to the mine have been
scheduled by retail distributors and manufactures, during Q3 2015
whilst production ramp-up continues
The Company is also delighted to announce the launch of its
online, Business-to-Customer (B2C), sales platform;
richlandgemstones.com. This online platform develops the success of
the Company's tanzaniteone.com consumer business and offers retail
consumers the opportunity to buy fully certificated loose cut
gemstones or set jewellery. For launch, an extensive range of
tanzanite products under the newly developed Merelani Tanzanite
brand are available. The Company is currently cutting selected
sapphires mined to date from its Capricorn operations and
anticipates having its first blue and coloured sapphires available
on richlandgemstones.com in September.
Chief Executive Officer, Bernard Olivier said: "Despite the
disappointment of the production delay during the first few months
of ramp up I believe we made the correct decision in delaying the
first sight sale. Our product display at the June 2015 Hong Kong
Jewellery Show, was well received by major gemstone trade buyers,
manufactures and distributors. We shall be hosting a number of
minesite visits over the next few months as part of our brand
development programme. This will enable industry players to see the
Capricorn Sapphire mine, plant and grading facilities in operation.
I am also delighted to announce the launch of our new online retail
website richlandgemstones.com, which allows consumers to buy fully
certificated and ethically sourced cut stones, loose or set with
our first sapphires expected to be available online by
September."
For more information please contact:
Bernard Olivier Mike Allardice
Chief Executive Officer Group Company Secretary
+61 (0) 4089 48182 +852 91 864 854
Nominated Advisor & Laurence Read
Broker (AIM)
RFC Ambrian Limited Corporate Development and Communications Officer
Samantha Harrison +44 (0) 20 3289 9923
+44 (0) 20 3440 6800
Notes to the Editor:
Capricorn Sapphire Project Summary
The purpose-built alluvial processing plant is one of the
largest of its kind in the southern hemisphere, capable of treating
up to 200 loose cubic metres (LCM) per hour. The Capricorn Sapphire
mine consists of two new mining leases comprising about 490
hectares and associated assets and the project is 100% owned by
Richland. The mining leases contain a JORC (2004) Measured Sapphire
Resource of approximately 21.6 million grams (109 million carats)
of sapphire, based on extensive previous exploration and following
a brief period of mining by the previous owners. 'Fancy' coloured
sapphire has traditionally been recovered from the project but the
Board believes the value from Capricorn Sapphire comes from the
consistent production of standard stone types sought in the
manufacture of mainstream jewellery manufacture.
In 2015, Richland sold or closed all of its operation in
Tanzania relating to gemstone mining. Previously the Company had
operated the world's largest and most advanced tanzanite mine. The
mine was sold as conditions in Tanzania ceased to permit us to
operate to standards of safety of employees and security of
operations, which we deemed essential for an ethical business.
The development of the Capricorn Sapphire project forms part of
the Company's strategy to develop profitable gemstone operations,
utilising its experience in coloured gemstone extraction, through
efficient cost controls. The project offers a significant
opportunity for Richland to develop a low cost, coloured gemstone
operation selling fully certificated gemstones to the global market
place. Queensland, Australia is a long established area for major
mining operations, hosting one of the world's major sources for
coal. With well-established legislation and permitting for mining
in place, Queensland offers significant scope for the creation of a
major coloured gemstone hub to promote ethically mined, natural
Sapphire.
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRUNUVRVKABRRR
Lexington Gold (LSE:LEX)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Lexington Gold (LSE:LEX)
Historical Stock Chart
Von Jun 2023 bis Jun 2024