Q3 Operational and Sales Update
25 Octobre 2010 - 8:00AM
UK Regulatory
TIDMTNZ
RNS Number : 9108U
Tanzanite One Limited
25 October 2010
25 October 2010
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Q3 Operational and Sales Update
TanzaniteOne Limited ("TanzaniteOne" or "the Company") (AIM: TNZ), the gemstones
producer and developer today announces an operational, sales and marketing
update. All figures are unaudited.
Highlights
· US$ 3.78 million in sales achieved in Q3 2010
· Fourth official sight of 2010 resulted in a revenue of US$ 2.2 million
o 206,295 carats of rough tanzanite was sold at fourth sight sale at an average
price of US$10.6/carat
· Total production of 618,285 carats for Q3 2010
· Average grade of 62 carats per tonne achieved
Production
In the third quarter of 2010, the Company achieved production totalling 618,285
carats from the processing of 9,901 tonnes of material at an average grade of 62
carats per tonne for the quarter. The strong production performance is in line
with the Company's 2010 production ramp-up strategy implemented in the beginning
of the year as a result of the gradual recovery in the tanzanite market.
Sales
The Company achieved US$3.78 million in sales for the third quarter of 2010.
The fourth official sight was held in Hong Kong from 19 to 21 September to
coincide with the Hong Kong Jewellery and Gem Fair. Revenue from sales of US$2.2
million was achieved at the sight from the sale of 206,295 carats of rough
tanzanite, at an average of US$10.6 per carat. The next rough sight or auction
is scheduled for early November 2010.
Tsavorite
The tsavorite drilling, sampling and data interpretation has been completed and
bulk sampling commenced in mid-September. The bulk sampling is scheduled to
continue until the end of October and the final processing and data
interpretation will be concluded in November. As previously announced, the first
independent JORC compliant report is expected in December 2010.
Commenting today, Bernard Olivier, Chief Executive Director, said: "These
continued positive sales figures of US$ 3.78 million for the quarter build on
the company's return to profit in the first half as reported last month. We
continue with our strategy to ramp-up production, achieving production totalling
618,285 carats in the third quarter, and maximising sales of lighter stones via
our marketing joint ventures. We look forward to reporting our next quarterly
sales figures, and the first independent JORC compliant report for the tsavorite
project in December".
END
For more information, please contact:
Willi Boehm, Company Secretary
+61 8 9367 5211
Bernard Olivier, Chief Executive Director
+61 4089 481812
Nominated Adviser and Broker
Ambrian Partners Limited
Samantha Harrison / Richard Chase
+44 (0) 20 7634 4700
Public Relations
Threadneedle Communications
Laurence Read / Beth Harris
+44 (0)7979 955 923
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 |
+-------+----------------------------+
Further information is available on the Company's website: www.tanzaniteone.com
Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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