Richland Resources Ltd Quarterly Operational and Sales Update (4100G)
2014年5月7日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMRLD
RNS Number : 4100G
Richland Resources Ltd
07 May 2014
Richland Resources Limited
("Richland" or "the Company") (AIM:RLD)
Quarterly Operational and Sales Update
Richland Resources Ltd, the gemstones producer and developer,
today announces an operational, sales and marketing update for Q1
2014. All figures are unaudited.
Operational Highlights
-- 1,336,094 carats total tanzanite production for Q1 2014 (788,198 carats for Q1 2013);
-- 199 carats per tonne average grade achieved (97 carats for Q1 2013);
-- US$2.55m total sales achieved
o TanzaniteOne Mining Limited ("TML") / STAMICO joint sales of
US$1.8 million
o US$0.77 million other sales (including The Tanzanite
Experience ("TTE") retail stores and Online).
Corporate Highlights
-- Closing of Open Offer and Placement to raise gross proceeds of approximately GBP2.76 million (approximately US$4.5 million);
-- 90 day Non-binding Memorandum of Understanding ("MoU")
executed on 3 February 2014 with Kibaran Resources Limited
("Kibaran") for development of graphite assets.
Post Period Highlights
-- Company initiated a group wide strategic review:
o Focus on costs and revenue optimitsation
o Examining best use of funds available for investment in
gemstone projects
o 50% salary and fee reduction for entire Richland board
-- Richland has now signed a 3 month extension to the MoU with
Kibaran to consolidate its Merelani-Arusha Graphite Project with
Kibaran's graphite assets in the region.
Commenting today Bernard Olivier, CEO, of Richland Resources
said: "Richland is working with its Tanzanian operating company
TML, to alleviate significant costs at the Merelani tanzanite mine
as illegal mining activities are still severely hampering
operations and financial performance. As previously stated, no
further capital will be provided to the TML/STAMICO joint venture
by Richland while this situation is left to persist by the
authorities. We shall wait to see if the Government of Tanzania
completes its programme of clearing illegal mining from our licence
area and thus provide a safe working environment for our workers.
We are extremely disappointed by the lack of support received to
date in this regard, especially after signing the binding agreement
with STAMICO in December 2013."
Production and Sales
Through Richland's wholly owned subsidiary, TML, tanzanite
production totalling 1,336,094 carats was achieved in the first
quarter of 2014. 6,693tonnes of material was processed with
recovery at an average grade of 199 carats per tonne. An estimated
US$1.8 million of revenues was realised in Q1 2014 by the
TML/STAMCO JV pursuant to the agreement that was signed last year
and covers all rough production from tanzanite mining. The quality
of the tanzanite produced remained low due to the continuing lack
of high-quality production areas available to be mined by TML as a
direct result of the illegal mining activities on the Block C
licence area. During the quarter the Company and TML continued its
appeal to the Tanzanian Government to address the illegal mining
within the Block C licence area.
The Company achieved approximately US$0.77m of additional
revenues for the quarter from retail and beneficiation operations
including TTE and TanzaniteOneOnline.
Graphite Project
On 5 February 2014, Richland announced a MoU with ASX quoted
Kibaran to consolidate and mine both companies' graphite deposits
in the Merelani region. Richland has now signed a 3 month extension
to the MoU until 5 August 2014. Kibaran has largely completed its
due diligence and the parties are now working together to finalise
the terms of the binding agreement. Both parties are keen to
finalise an agreement to allow the recommencement of graphite
production at Merelani. Further updates will be made in due
course.
Corporate Activities
On 18 December 2013 the Company announced that it was proposing
to raise up to GBP4.0 (GBP3.9 net of expenses) through the issue of
up to 118,148,951 New Common Shares by way of a Placing and Open
Offer at an issue price of 3.4p per New Common Share. On 16 January
2014 the Company announced that it had raised approximately GBP2.76
million (approximately US$4.5 million) (gross) via the issue of, in
aggregate, 81,060,944 New Common Shares. This exceeded the
Company's minimum fundraising target of GBP2.1 million.
Post Period Strategic Review
As announced on 14 April 2014, the Company is undertaking a
group wide strategic review of its operations, which will include a
review of all costs, revenue optimization and best use of funds
available for investment in gemstone projects. Further updates will
be made in due course.
For more information please contact:
Bernard Olivier Mike Allardice
Chief Executive Officer Group Company Secretary
+61 4089 48182 +852 91 864 854
Nominated Advisor & Broker
RFC Ambrian Limited
Samantha Harrison
+44 (0) 20 3440 6800
Laurence Read
Corporate Development and Communications Officer
+44 (0)20 3289 9923
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFBRGDUGXGBGSL
Lexington Gold (LSE:LEX)
過去 株価チャート
から 6 2024 まで 7 2024
Lexington Gold (LSE:LEX)
過去 株価チャート
から 7 2023 まで 7 2024