Operational Update (1880F)
20 Avril 2011 - 8:00AM
UK Regulatory
TIDMTNZ
RNS Number : 1880F
Tanzanite One Limited
20 April 2011
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Operational Update
TanzaniteOne Limited ("TanzaniteOne" or "the Company") (AIM:
TNZ), the gemstones producer and developer today announces an
operational, sales and marketing update for the first quarter of
2011. All figures are unaudited.
Highlights
-- Total production of 609,737 carats for Q1 2011 (562,992
carats for Q1 2010)
-- Total sales of $3.96 million for Q1 2011 ($2.68million in Q1
2010)
-- Average grade of 71 carats per tonne achieved (55 carats per
tonne in Q1 2010)
-- Recovery of 12,100 carat gemstone, third largest ever mined
in the company's history
-- Maiden Tsavorite JORC resource
Production
In the first quarter of 2011, the Company achieved production
totalling 609,737 carats from the processing of 8,615 tonnes of
material at an average grade of 71 carats per tonne for the
quarter. During the quarter the Company also recovered a 12,100
carat tanzanite from the newly intersected Main Shaft fold
structure.
Sales
The Company achieved $3.96 million in total sales for the first
quarter of 2011. The sales were achieved in compliance with the ban
on the export of rough tanzanite larger than 5 carats and were
achieved through a combination of the sales of cut stones; rough
tanzanite smaller than 5 carats and material sold at the Company's
retail outlets.
Tsavorite
As announced on 10 January 2011, the Company has achieved its
Maiden JORC compliant Inferred and Indicated Resource for its
Tsavorite exploration. The Company currently has a JORC complaint
Inferred Resource of 7.6 to 10.4 million bank cubic metres ("bcm")
or approximately 18.2 to 24.9 million tonnes and a JORC compliant
Indicated Resource of 0.89 to 2.17 million bcm or approximately 2.1
to 5.2 million tonnes located within the Inferred Resource. During
the Quarter the Company has also started the second phase of pilot
sampling.
Power Shortage - Tanzania
The Company was not significantly affected by the power shortage
experienced earlier in the quarter in Tanzania since in addition to
the National Grid connection, the Company has its own power
generating capacity and can produce over 1.6 Megawatts, which is
significantly more than the mine's entire power consumption
(including mining, processing, sorthouse etc).
Management
The Company would also like to announce the departure of Zane
Swanepoel as Chief Operating Officer (Tanzania). Zane has left the
company in order to pursue other interests. The Company continues
to progress towards its 2011 goals, and with a highly proficient
technical team on the ground in Tanzania, including a team of 12
qualified mining engineers and geologists and a very experienced
management team, the Company has a structure in place for continued
development and growth. The Company has also significantly
strengthened and restructured its management team in Tanzania and
also plans to appoint a new General Manager for Mining shortly (to
be based on the ground in Tanzania).
Commenting today Bernard Olivier, Chief Executive Officer said:
"We continue to build value from our first-rate gemstone operations
which achieved sales of US$3.9 million for the first quarter of
this year. During the quarter we have achieved an increase in
production, grade and sales compared with same period last year. We
have also achieved a maiden JORC compliant inferred and indicated
resource at our Tsavorite project, which we are now completing a
second phase of pilot sampling on. I would like to take this
opportunity to thank Zane Swanepoel for all his efforts and hard
work during his time with us. We have a highly experienced
management team including an extensive team of highly proficient
technical personnel on the ground in Tanzania who along with the
company Directors will lead the next phase of growth and
development."
END
For more information, please contact:
Willi Boehm, Company Secretary
+61 8 9367 5211
Bernard Olivier, Chief Executive Officer
+61 4089 48182
Nominated Adviser and Broker
Ambrian Partners Limited
Samantha Harrison/ Richard Chase
+44 (0) 20 7634 4700
Joint Broker
XCAP Securities PLC
John Grant/Jon Belliss/David Newton
+44 (0) 20 7101 7070
Public Relations
Threadneedle Communications
Laurence Read/ Beth Harris
+44 (0)20 7653 9850
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.
TanzaniteOne, which uses state-of-the-art optical sorters and
technically advanced processing and sorting methods, has further
enhanced its sorting techniques resulting in the unlocking of
further value in the B and BL categories. This initiative forms
part of the Group's stated refocus on its main production source,
lighter but equally brilliant stones. Additional evaluation
continues in this area as TanzaniteOne strives to unlock value in
this significant portion of its production.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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