Sales Update
12 Juillet 2010 - 8:00AM
UK Regulatory
TIDMTNZ
RNS Number : 1565P
Tanzanite One Limited
12 July 2010
12 July 2010
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Sales and Marketing Update
TanzaniteOne Limited ("TanzaniteOne" or "the Company") (AIM: TNZ), the gemstones
producer and developer, today announces its third unaudited sales update for the
year.
Highlights
· Third official sale of 2010 resulted in a revenue of US$ 2.57 million
- 191,673 carats of rough tanzanite was sold at sight sale at an average
price of US$13.4/carat
· US$ 5.4 million in sales achieved in Q2 2010
- Represents an 80% improvement on the first quarter sales of $3million
- Best quarterly sales figures since Q2 2008
· US$ 8.4 million in sales achieved in H1
- Initial half yearly results exceeding recovery expectations
The third formal sight sale for 2010 was conducted from 27 to 30 June 2010 in
Dubai. Revenue of US$2.57 million was achieved at the sight from the sale of
191,673 carats of rough tanzanite, at an average of US$13.4 per carat. All rough
tanzanite presented at the Dubai sight was sold and a large proportion of the
material sold by value was from the B category resulting in the higher average
price per carat (US$13.4/carat) achieved compared with the May sight
(US$5.5/carat) (see the grading and classification system in the notes to editor
section).
The combination of the two very successful sight sales in May and June and the
growing revenue stream from the Company's own cutting, polishing and sales
division has resulted in total revenue of US$5.4 million for the second quarter
of 2010. The second quarter sales represent an 80% improvement on the first
quarter sales of $3million. The second quarter sales revenue of US$5.4 million
also represents the best quarterly sales figures achieved by the Company over
the last two years (since Q2 2008) prior to the onset of the Global Financial
Crisis.
Commenting today, Bernard Olivier, Chief Executive Director, said: "We are
extremely pleased with the impressive sales results obtained in the second
quarter of 2010 with sales revenues of over US$5.4 million achieved. This
extremely encouraging quarterly revenue has surpassed both our internal recovery
projections as well as market expectations. These are the best quarterly sales
figures achieved by the Company in two years and are testament to the tanzanite
gemstone market recovery and subsequent increase in demand for the stone. In
addition to generating revenue from formal sights we are continuing to develop
complimentary sales channels and a successful cutting and polishing division
with these activities now helping to drive the improved revenue performance."
Notes to the Editor:
The intrinsic attraction of tanzanite and the finite nature of a single known
resource at the foothills of Mount Kilimanjaro in northern Tanzania are
undoubtedly part of tanzanite's allure.
TanzaniteOne is the largest and most scientifically advanced miner and supplier
of rough tanzanite, a unique position that affords it the opportunity to support
and influence the entire channel, from mine to market, ensuring that maximum
stakeholder value is achieved at each stage of the process.
Our leading position in the tanzanite market has ensured TanzaniteOne the
recognition and respect of its peers and provides the opportunity for expansion
into a broader range of PCGs located at various key sites around the world.
The following modified tanzanite grading and classification system is currently
being used by the Company:
+-------+----------------------------+
| Grade | Description |
| | |
+-------+----------------------------+
| A | Exceptional Colour, Eye |
| | Clean |
+-------+----------------------------+
| B | Rare Deep Colour, Eye |
| | Clean |
+-------+----------------------------+
| B | B Colour - Slightly |
| (SI) | Included |
+-------+----------------------------+
| B | B Colour - Included |
| (I) | |
+-------+----------------------------+
| BL | Lighter Colour B grade, |
| | Eye Clean |
+-------+----------------------------+
| BL | B Light - Slightly |
| (SI) | Included |
+-------+----------------------------+
| BL | B Light - Included |
| (I) | |
+-------+----------------------------+
| D | Opaque Material |
+-------+----------------------------+
For more information, please visit www.tanzaniteone.com or contact:
Willi Boehm, Company Secretary
+61 8 9367 5211
Bernard Olivier, Chief Executive Director
+61 408 948 182
Nominated Adviser and Broker
Ambrian Partners Limited
Richard Greenfield/ Richard Chase
+44 (0) 20 7634 4700
Public Relations
Threadneedle Communications
Laurence Read/ Beth Harris
+44 (0)7979 955 923
This information is provided by RNS
The company news service from the London Stock Exchange
END
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