TIDMTNZ 
 
RNS Number : 1009M 
Tanzanite One Limited 
18 May 2010 
 

 
                                  TanzaniteOne 
                          2009 Financial Year Results 
 
TanzaniteOne (AIM:TNZ) today announces its final results for the 12 months ended 
31 December 2009. 
 
Highlights 
 
Financial 
·      EBIDTA, loss of $1.2 million ($0.2 million excluding a one-off provision 
for missing tanzanite inventory from the Company's now closed South African 
office), 
o  75% improvement from the 2008 EBIDTA loss of $4.8 million 
·      Operating costs decreased 45% from $18.0 million in 2008 to $9.9 million 
in 2009 
·      Net loss reduced by 71% from $8.7 million for the previous year to $2.5 
million 
·      Net loss of $2.5 million impacted by one-off charges relating to missing 
tanzanite inventory of $1.0 million 
·      Revenues decreased by 54% to $12.5 million, reflecting reduced production 
as a result of the impact of the downturn in the global economy on the luxury 
goods segment 
·      Gross margin of 48%, up from 40% in 2008 due to a combination of cost 
containment and a gradual increase in prices 
·      Consolidated cash and cash equivalents at 31 December of $1.6 million 
·      Tanzanite inventory stock at 31 December of $4.1 million 
 
Operations 
·      Tanzanite production of 1.9 million carats, 19% ahead of the internal 
target and 14% down on the prior year 
·      10% decrease in tonnes processed to 38,154 tonnes when compared to 
previous year 
·      Average grade of 50 carats per tonne compared with 52 carats per tonne in 
previous year 
·      Gradual increases in tanzanite prices towards year end 
·      $6.6 million  sales realised through the new Dubai marketing office that 
commenced operations during the second half of the year 
·      Capital programs and exploration expenditure were strictly contained and 
some deferred pending the recovery in the tanzanite market 
·      Drilling and sampling of the Tsavorite project commenced 
Strategic 
·      Successfully raised $5.3 million during the year through private 
placement 
·      Appointment of Dr Bernard Olivier as CEO and Zane Swanepoel as COO 
(subsequent to year end) 
·      Bye-laws amended to incorporate takeover protections 
·      Acquisition of Tsavorite project completed 
 
Outlook 
·      First sight of 2010 achieved a 16.5% price increase compared to November 
2009 sight 
·      Production ramp-up programme re-initiated on the back of increased demand 
in 2010 
·      2010 production target of 2.2 million carats 
·      Conversion of the Marketing and Sales MoU's to JV agreements 
 
 
 
Commenting today Bernard Olivier, Chief Executive Officer said: 
 
"Due to the economic crisis in the latter half of 2008, the beginning of 2009 
saw weak demand for luxury goods and very low gemstone prices. As 2009 
progressed the Tanzanite price, as mirrored in the diamond industry, made a 
consistent recovery, a trend reflected in our ongoing sight results. In addition 
to improving prices, our work optimising and streamlining operations quickly 
delivered tangible improvements to TanzaniteOne's margins. Operational 
optimisation resulted in a 19% increase in recovery of tanzanite compared to our 
2008 forecast and 45% reduction in our operating costs. We have also achieved a 
16.5% price increase from our first sight of 2010 compared to the November 2009 
sight and accomplished impressive sales of $6.6 million, realised via our new 
Dubai marketing office.  Our priority is to deliver on our core objective to 
continue to expand our tanzanite production, with our high-tech gemstone 
extraction operations, and achieve our production target of 2.2 million carats 
for 2010." 
 
 
For more information please contact: 
 
Willi Boehm 
Company Secretary 
+61 409 969 955 
 
Bernard Olivier 
Chief Executive Officer 
+61 4089 481812 
 
Nominated Advisor & Broker (AIM) 
Ambrian Partners Limited 
Richard Greenfield/ Richard Chase 
+44 (0) 20 7634 4700 
 
Threadneedle Communications 
Laurence Read/Beth Harris 
+44 (0)207653 9855 
+44 (0)7979 955 923 
 
 
Key Statistics - 2009 
 
+-------------------------------+---------+---------+----------+ 
| Key statistics:               | FY 2009 |      FY | Movement | 
|                               |         |    2008 |          | 
+-------------------------------+---------+---------+----------+ 
| EBIDTA loss (excluding        |  ($0.2) |  ($4.8) |    (96%) | 
| provision for missing         |         |         |          | 
| inventory)                    |         |         |          | 
+-------------------------------+---------+---------+----------+ 
| Net (loss)/profit             |   ($2.5 |   ($8.7 |    (71%) | 
|                               |      m) |      m) |          | 
+-------------------------------+---------+---------+----------+ 
| Revenue                       |   $12.5 |   $26.9 |    (54%) | 
|                               |         |       m |          | 
+-------------------------------+---------+---------+----------+ 
| Gross margin                  |     48% |     40% |      20% | 
+-------------------------------+---------+---------+----------+ 
| Depreciation and amortisation |  ($2.9) |  ($2.5) |      16% | 
+-------------------------------+---------+---------+----------+ 
| Corporate administration and  |  ($2.7) |  ($3.4) |    (21%) | 
| other operating costs         |         |         |          | 
+-------------------------------+---------+---------+----------+ 
| Mine administration           |  ($2.4) |  ($3.1) |    (23%) | 
+-------------------------------+---------+---------+----------+ 
| Tanzanite inventory stock     |    $4.1 |    $5.1 |    (20%) | 
+-------------------------------+---------+---------+----------+ 
| Cash and cash equivalents     |    $2.2 |    $1.5 |      47% | 
| excluding overdraft           |         |         |          | 
+-------------------------------+---------+---------+----------+ 
| Tonnes processed              |  38,154 |  42,318 |    (10%) | 
+-------------------------------+---------+---------+----------+ 
| Carats recovered              |     1.9 |     2.2 |    (14%) | 
|                               | million | million |          | 
+-------------------------------+---------+---------+----------+ 
| Carats per tonne              |      50 |      52 |     (4%) | 
+-------------------------------+---------+---------+----------+ 
| On mine cash costs per carat  |   $3.63 |   $3.60 |     (1%) | 
+-------------------------------+---------+---------+----------+ 
 
 
 
Financial Performance 
 
TanzaniteOne showed a significant improvement on the previous corresponding 
period with loss after tax reduced by 71% from $8.7 million in 2008 (US11.62 
cents per share) to $2.5 million (US 2.54 cents per share) for the year ended 31 
December 2009. 
 
The result for the year was heavily influenced by a significant reduction in 
sales revenue experienced during the period, which saw sales decrease by 54% 
compared to the prior year. This was largely due to the impact of the global 
economic downturn on the global luxury goods sector to which the company 
responded by cutting production to contain costs. 
 
The result was also adversely affected by the recognition of a provision of $1.0 
million for missing tanzanite inventory in South Africa for which management are 
currently pursuing insurance and legal channels to recover. The company's South 
African office has since been closed. 
 
The Group achieved a gross margin for the year of 48% compared to 40% in 2008. 
The increase in gross margin was due to a combination of gradually increasing 
prices, and cost management and control. 
 
Corporate administration and other operating costs of $2.7 million reflected 
costs incurred in administering the company's stock exchange listing, corporate 
compliance, investor relations activity, financial and legal consulting and 
non-recurring costs associated with the mergers and acquisitions activity. Costs 
are expected to reduce significantly in 2010. 
 
Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved 
by 75% from a loss of $4.8million in 2008 to a loss of $1.2 million. If the once 
off provision for missing inventory from the South African office is excluded, 
EBIDTA improved 96% to a loss of $0.2 million. 
 
Operating costs decreased 45% from $18.0 million in 2008 to $9.9 million in 2009 
and were down 22% compared to 2007 while tanzanite production levels were 0.2 
million carats lower in 2007. 
 
Inventory of tanzanite decreased 20% to $4.1 million as a result of the company 
being more successful than in the previous year in selling lower value stones. 
 
Capital expenditure for the year of $2.8 million included the purchase of a new 
generator, development and exploration expenditure and other mining equipment. 
 
TanzaniteOne's cash position has benefited post year-end with $1.4 million being 
received from debtors and $2.7 million through the sale of rough and polished 
tanzanite. The first sight sale for 2010 was held during March and raised $1.6 
million. 
 
Contingent liability 
 
The activities of Tanzanite One Mauritius Limited, a wholly owned subsidiary of 
the Company have been wound down as a result of the effects of the global 
financial crisis on its operational viability. There is a possibility that the 
Company risks losing its South African tax residence status and could incur a 
tax liability of $1.4 million if the company did not develop and implement a 
strategy on operational viability. Management are aware of this situation and 
have already implemented certain structures and plan as part of its group sales 
and marketing restructure program to ensure that the residence status is not 
lost. Tanzanite One Mauritius forms and integral part of this revised sales 
initiatives being developed and is expected to lead the group's new entry into 
new market segments that have been identified by the group 
 
Dividend 
 
The directors have not declared a final dividend.   The Board has a strong 
history of rewarding shareholders with dividends but feels it prudent to defer 
further dividends until market conditions strengthen. 
 
Outlook 
 
The sights conducted in March reflected an overall price increase of 16.5% and 
26% for the upper ranges (category A and B). There is an indication of demand 
for the product exceeding supply, signalling a strengthening of the tanzanite 
gemstone market. The Company is confident that it will be able to participate in 
the recovery in the global coloured gemstone markets and maintain its position 
as the premier company in this sector. 
 
Production 
 
The tanzanite resource is divided into five blocks.  TanzaniteOne in Block C 
undertakes larger scale mining, medium scale mining is undertaken by Kilimanjaro 
Mining in Block A and Tanzanite Africa in Block D-extension.  The Company's 
neighbouring Blocks B and D are mined largely by artisanal miners.  This poses a 
challenge for TanzaniteOne, notably in terms of undermining, whereby, the 
artisanal miners are mining into TanzaniteOne's designated license area. 
 
Production for the year totalled 1,9 million carats of tanzanite, from the 
processing of 38,154 tonnes at an average recovery of 50 carats per tonne. The 
processing and crushing plant continues to operate on a single shift basis. 
There is sufficient capacity to increase production through the introduction of 
a second shift at the plant as and when demand improves. 
 
The Company's ability to increase production to 3 million carats per annum 
remains unchanged, with production currently being increased conservatively as 
markets slowly return to normality. Responding to the uncertainties created by 
volatility in the world financial markets production was decreased 10% from the 
2008 tonnes processed. Production rates were greatly reduced in the first half 
of 2009 but were increased in the second half of 2009 as markets began to 
stabilised. 
 
On Mine Cash Costs 
 
On mine cash costs for the period increased by only 1% to $3.63 per carat from 
$3.60 in 2008 despite significantly reduced production.  This was as mainly a 
result of strict cash and cost management efforts at the mineand the aggressive 
cost reduction strategy implemented by the Company during 2009. Cost reduction 
remains a primary focus with increased attention on improved efficiencies by way 
of selective stoping, restructured mine procurement policies and the recycling 
of used equipment. On mine cash costs include operating costs, mine 
administration costs and royalty charges incurred at the Merelani mine. With the 
production target now increased to 2.2 million carats for 2010, cash costs on a 
per carat basis are expected to reduce compared to 2009. 
 
Production Statistics 
 
+--------------------+-------------+-------------+-------------+ 
|                    |    2009     |    2008     |  Movement   | 
+--------------------+-------------+-------------+-------------+ 
| Tonnes Processed   |   38,154    |   42,381    |    (10%)    | 
+--------------------+-------------+-------------+-------------+ 
| Carats per tonne   |     50      |     52      |    (4%)     | 
+--------------------+-------------+-------------+-------------+ 
| Production (carats |1.9 million  |2.2 million  |    (14%)    | 
| recovered)         |             |             |             | 
+--------------------+-------------+-------------+-------------+ 
| On mine cash costs |   $3.63*    |   $3.60*    |     1%      | 
| per carat *        |             |             |             | 
+--------------------+-------------+-------------+-------------+ 
| On mine revenue    |  $4.90**    |  $7.07**    |    (31%)    | 
| per carat          |             |             |             | 
+--------------------+-------------+-------------+-------------+ 
 
*On mine cash costs include operating costs, mine administration costs and 
royalty charges incurred at Merelani mine 
 
**Reduction in revenue per carat achieved is as a direct result of the lower 
overall quality of produced material and the drop in prices 
 
Safety and Training 
 
The Company experienced no fatalities during the year and only three Lost 
Workday Cases were reported. The Lost Time Injury Frequency Rate ("LTIFR") for 
2009 was only 0.44. This is testimony to the Company's focus on safety and the 
success of the Safety and Training Department's safety awareness and training 
initiatives. 
 
Training emphasis focused on skills upliftment and exposure to outcomes based 
training and assessment. This style of training consists of both theory and 
practical assignments. The aim for the future is to do multi-skilling type 
training, which ensures depth as well as flexibility at the work face. This will 
also ensure succession planning in the lower ranks. 
 
The following number of persons have been trained and found competent. 
Certificates of excellence have been issued. 
 
+------------------------------+------------------------------+ 
| Scraper winch operator       | 8                            | 
+------------------------------+------------------------------+ 
| Explosives handlers/chargers | 28                           | 
+------------------------------+------------------------------+ 
| Jack hammer operators        | 28                           | 
+------------------------------+------------------------------+ 
| Supervisory skills           | 12                           | 
+------------------------------+------------------------------+ 
| Team leader training         | 18                           | 
+------------------------------+------------------------------+ 
| Blasting certificate         |  6                           | 
| refresher                    |                              | 
+------------------------------+------------------------------+ 
 
Social Responsibility 
 
TanzaniteOne is committed in supporting the local community within its 
designated mining area. In 2009, the Company has supplied 90 bunk beds to 
Naisinyai Secondary School and is currently in the process of delivering 180 
mattresses for the beds supplied.  Several initiatives have been set up by 
TanzaniteOne to broaden assistance within Simanjiro District. By establishing a 
Committee involving members from TanzaniteOne, Naisinyai village council and 
Merelani town council, the Company is working at broadening the scope of 
community support to these communities by looking at providing support in the 
construction of dormitories, mortuaries, health centres as well as assisting in 
the construction of classrooms in some secondary schools. 
 
TanzaniteOne continues to maintain and repair the dirt road from Kilimanjaro 
International Airport to the mine. The Company plans to conduct a Charitable Eye 
Care Mission once again in the very near future to provide treatment to people 
with eye problems. 
 
Lastly, TanzaniteOne also supplies water to Naisinyai village for domestic and 
livestock use. In the recent past, TanzaniteOne has offered 10 bursaries to 
students from various secondary schools within Simanjiro District in an effort 
to promote education in the district. 
 
Marketing 
 
The slowdown in the market in late 2008 and early 2009 allowed for a significant 
evaluation of the sales and marketing processes and strategies. Sorting and 
valuation process improvements have resulted in the extraction of greater 
valuation from previously lower contributing categories. 
 
New marketing initiatives targeting growth of the lighter and included material 
were launched with a target of opening up in new markets, thus expanding the 
tanzanite distribution. Cutting and polishing technologies have been implemented 
to realize the maximum value that these categories are able to deliver. As 
economies begin to pick up and retail restocking occurs, this is expected to 
feed through into sales. 
 
TanzaniteOne CuttingEdge was also launched in 2009 and resulted in the 
establishment of two Memoranda of Understandings ("MoU's") with high technology 
processing partners that will lead the value-addition process and movement of 
goods into markets less targeted to date. 
 
TanzaniteOne Trading 
 
During 2009, 56,520 carats of rough tanzanite were purchased for a total of 
US$2.0 million. Of this, US$1.3 million was spent on purchasing large size A, B 
quality (>2 gram) material with a total weight of 23,374 carats. 
 
The Tanzanite Experience (TTE) 
 
The Tanzanite Experience retail showcase expanded during 2009 to three 
locations, including a Mine Visitor Centre. The product mix was improved with 
retail experience, and good linkages made with the Tanzanian tourism industry 
provided a regular stream of clients. 
 
 
Tsavorite 
 
Work on the Tsavorite exploration area commenced during the third quarter of 
2009 and resulted in the following exploration activities being conducted in 
2009: 
 
1.   13 Drill lines (19 kilometres) were cleared and surveyed 
2.   41 Drill holes were drilled to bedrock or a maximum depth of 26 metres 
3.   818 metres of RAB drilling completed 
4.   9 Pits, spaced at 50 metre intervals, were dug to an average depth of 10 
metres 
5.   On site treatment plant was commissioned 
6.   2 bulk samples of ca. 40bcm were treated by the on site bulk treatment 
plant (results pending) 
 
Corporate Matters 
In April 2009, the Company successfully passed amendments to its bye-laws with a 
79.71% in favour vote. The amendments now afford shareholder equivalent takeover 
protection in line with standard UK practice and ensures that all shareholders 
are treated equally. 
In May 2009, TanzaniteOne raised GBP3.49 million (approximately US$5.3 million) 
through a private placement of 23,270,469 common shares at 15p per Placing 
Share. The proceeds of the private placement enabled the company to continue 
acquiring gem quality tanzanite in the local market at a time of significant 
price volatility, to fund the tsavorite exploration programme, fund further 
development work on the tanzanite mine and provide general working capital for 
the group. 
 
Board and Management (post reporting period) 
 
In March 2010 the Company appointment of Dr Bernard Olivier, aged 34, as Chief 
Executive Officer, having served the Company since 2008 as a Director. In 
addition to being an expert on Tanzanite geology, Dr Olivier has worked with a 
series of mining companies helping to develop value from their core assets. His 
appointment to the CEO role aims to leverage more extensively this commerciality 
combined with in-depth knowledge of coloured gemstones. 
 
As part of the Company's strategic restructuring Mr Zane Swanepoel, aged 50, 
becomes Chief Operating Officer - Tanzania. Mr Swanepoel, based in Tanzania, 
will devote himself fully to operational mining and development work in 
Tanzania. 
 
Glossary 
 
+-----------------+----------------------------------------------+ 
| ct              | Carat                                        | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| dollar or $     | United States Dollar                         | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| g/t             | grammes per tonne, measurement unit of grade | 
|                 | (1g/t = 1 part per m)                        | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| JORC code       | Australasian code for reporting of Mineral   | 
|                 | Resources and Ore Reserves                   | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| LTIFR           | Lost Time Injury Frequency Rate, being the   | 
|                 | number of lost-time injuries expressed as a  | 
|                 | rate per 200,000 man-hours worked            | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| NOSA            | National Occupational Safety Association     | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| On mine cash    | On mine cash costs include operating costs,  | 
| costs           | mine administration costs and royalty        | 
|                 | charges incurred at Merelani mine            | 
|                 |                                              | 
+-----------------+----------------------------------------------+ 
| tonne           | 1 Metric tonne (1,000kg)                     | 
+-----------------+----------------------------------------------+ 
 
 
 
Financial Statements 
 
                              TanzaniteOne Limited 
            Condensed Consolidated Statement of Comprehensive Income 
                          Year ended 31 December 2009 
                                  (Unaudited) 
                                     ($000) 
 
+----------------------------+----+---------+----------+ 
|                            |    |   FY    |    FY    | 
|                            |    |  2009   |  2008    | 
+----------------------------+----+---------+----------+ 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Revenue                    |    | 12,459  |  26,895  | 
+----------------------------+----+---------+----------+ 
| Cost of sales              |    |(6,458)  |(16,213)  | 
+----------------------------+----+---------+----------+ 
| Gross profit               |    |  6,001  |  10,682  | 
+----------------------------+----+---------+----------+ 
| Gross margin %             |    |  48%    |   40%    | 
+----------------------------+----+---------+----------+ 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Corporate Administration   |    |(2,729)  | (3,363)  | 
| and other operating costs  |    |         |          | 
+----------------------------+----+---------+----------+ 
| Defence costs              |    |    -    | (1,703)  | 
+----------------------------+----+---------+----------+ 
| Mine Administration        |    |(2,449)  | (3,140)  | 
+----------------------------+----+---------+----------+ 
| Selling and distribution   |    |(1,700)  | (4,241)  | 
| costs                      |    |         |          | 
+----------------------------+----+---------+----------+ 
| Royalties                  |    |  (337)  | (1,226)  | 
+----------------------------+----+---------+----------+ 
| Interest income received   |    |   17    |    72    | 
+----------------------------+----+---------+----------+ 
| Foreign exchange           |    |  1,126  | (1,826)  | 
| gains/(losses)             |    |         |          | 
+----------------------------+----+---------+----------+ 
| Financing costs paid       |    |  (138)  |  (81)    | 
+----------------------------+----+---------+----------+ 
| Loss before depreciation,  |    |  (209)  | (4,826)  | 
| amortisation and missing   |    |         |          | 
| inventory                  |    |         |          | 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Missing inventory          |    |  (963)  |    -     | 
+----------------------------+----+---------+----------+ 
| Depreciation and           |    |(2,853)  | (2,500)  | 
| amortisation               |    |         |          | 
+----------------------------+----+---------+----------+ 
| Loss before tax            |    |(4,025)  |(7,326)   | 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Income tax                 |    |  1,570  | (1,381)  | 
| credit/(expense)           |    |         |          | 
+----------------------------+----+---------+----------+ 
| Loss after tax             |    |(2,455)  | (8,707)  | 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Non-controlling  interest  |    |   46    |    52    | 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| Loss attributable to       |    |(2,409)  | (8,655)  | 
| equity holders of parent   |    |         |          | 
+----------------------------+----+---------+----------+ 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
| EPS (basic - cents)        |    | (2.54)  | (11.62)  | 
+----------------------------+----+---------+----------+ 
| EPS (diluted - cents)      |    | (2.48)  | (10.47)  | 
|                            |    |         |          | 
+----------------------------+----+---------+----------+ 
 
 
 
 
     TanzaniteOne Limited 
 Condensed Consolidated Statement of Financial 
                      Position 
 As at 31 December 2009 
                            (Unaudited) 
 ($'000) 
 
+------------------------------+-----+----------+---------+ 
|                              |     |  2009    |  2008   | 
+------------------------------+-----+----------+---------+ 
| Non-current assets           |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Property, plant and          |     |  31,882  | 29,892  | 
| equipment                    |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Inventory                    |     |   129    |  327    | 
+------------------------------+-----+----------+---------+ 
| Deferred tax assets          |     |  1,696   |  193    | 
+------------------------------+-----+----------+---------+ 
| Total non-current assets     |     |  33,707  | 30,412  | 
+------------------------------+-----+----------+---------+ 
| Current assets               |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Inventory                    |     |  3,979   |  4,756  | 
+------------------------------+-----+----------+---------+ 
| Income tax receivable        |     |  1,980   |  1,916  | 
+------------------------------+-----+----------+---------+ 
| Trade and other receivables  |     |  3,184   |  2,647  | 
+------------------------------+-----+----------+---------+ 
| Cash and cash equivalents    |     |  2,193   |  1,491  | 
+------------------------------+-----+----------+---------+ 
| Total current assets         |     |  11,336  | 10,810  | 
+------------------------------+-----+----------+---------+ 
| Total assets                 |     |  45,043  | 41,222  | 
+------------------------------+-----+----------+---------+ 
| Equity                       |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Issued share capital         |     |    32    |   22    | 
+------------------------------+-----+----------+---------+ 
| Share premium                |     |  46,020  | 38,709  | 
+------------------------------+-----+----------+---------+ 
| Share options outstanding    |     |   706    |  706    | 
+------------------------------+-----+----------+---------+ 
| Foreign currency translation |     |  (684)   |  (20)   | 
| reserve                      |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Retained earnings            |     | (8,728)  |(6,319)  | 
+------------------------------+-----+----------+---------+ 
| Total equity attributable to |     |  37,346  | 33,098  | 
| parent equity holders        |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Non-controlling interest     |     |  (42)    |    4    | 
+------------------------------+-----+----------+---------+ 
| Total equity                 |     |  37,304  | 33,102  | 
+------------------------------+-----+----------+---------+ 
| Non-current liabilities      |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Interest-bearing borrowings  |     |   804    |  378    | 
+------------------------------+-----+----------+---------+ 
| Provisions                   |     |   107    |  100    | 
+------------------------------+-----+----------+---------+ 
| Deferred tax                 |     |  5,417   |  5,140  | 
+------------------------------+-----+----------+---------+ 
| Total non-current            |     |  6,328   |  5,618  | 
| liabilities                  |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Current liabilities          |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Bank overdraft               |     |   570    |  697    | 
+------------------------------+-----+----------+---------+ 
| Interest-bearing borrowings  |     |   196    |    6    | 
+------------------------------+-----+----------+---------+ 
| Income tax payable           |     |    -     |   28    | 
+------------------------------+-----+----------+---------+ 
| Trade and other payables     |     |   645    |  1,771  | 
+------------------------------+-----+----------+---------+ 
| Total current liabilities    |     |  1,411   |  2,502  | 
+------------------------------+-----+----------+---------+ 
| Total liabilities            |     |  7,739   |  8,120  | 
+------------------------------+-----+----------+---------+ 
| Total equity and liabilities |     |  45,843  | 41,222  | 
+------------------------------+-----+----------+---------+ 
|                              |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Number of shares in issue    |     |  106.3   |  74.5   | 
| (million)                    |     |          |         | 
+------------------------------+-----+----------+---------+ 
| Net asset value per share    |     |  35.08   |  44.45  | 
| (US cents)                   |     |          |         | 
+------------------------------+-----+----------+---------+ 
 
 
 
 
 
 
TanzaniteOne Limited 
 Condensed Consolidated Statement of Cash Flows 
 For 
                        the Year Ended 31 December 2009 
                            (Unaudited) 
 ($'000) 
 
+------------------------------------+----+---------+----------+ 
|                                    |    |         |          | 
+------------------------------------+----+---------+----------+ 
|                                    |    |   FY    |    FY    | 
|                                    |    |  2009   |  2008    | 
+------------------------------------+----+---------+----------+ 
| Cash flows from operating          |    |         |          | 
| activities                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Cash (utilised in)/generated from  |    |(2,191)  |  3,220   | 
| operations                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Interest income received           |    |   17    |    72    | 
+------------------------------------+----+---------+----------+ 
| Financing cost paid                |    |  (138)  |  (75)    | 
+------------------------------------+----+---------+----------+ 
| Taxation paid                      |    |  (6)    | (1,666)  | 
+------------------------------------+----+---------+----------+ 
| Net cash (to)/ from operating      |    |(2,318)  |  1,551   | 
| activities                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Cash flows from investing          |    |         |          | 
| activities                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Acquisitions of property, plant    |    |(2,810)  | (5,433)  | 
| and equipment                      |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Net cash to investing activities   |    |(2,810)  | (5,433)  | 
+------------------------------------+----+---------+----------+ 
| Cash flows from financing          |    |         |          | 
| activities                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Net proceeds from issue of share   |    |  5,341  |    -     | 
| capital                            |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Repayment of interest-bearing      |    |  616    |  (526)   | 
| borrowings                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Dividends paid                     |    |    -    | (7,733)  | 
+------------------------------------+----+---------+----------+ 
| Net cash from/ (to) financing      |    |  5,957  | (8,259)  | 
| activities                         |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Net increase/(decrease) in cash    |    |  829    |(12,141)  | 
| and cash equivalents               |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Cash and cash equivalents at the   |    |  794    |  12,935  | 
| beginning of the year              |    |         |          | 
+------------------------------------+----+---------+----------+ 
| Cash and cash equivalents at the   |    | 1,623   |   794    | 
| end of the year                    |    |         |          | 
+------------------------------------+----+---------+----------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 FR APMRTMBJBMMM 
 

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