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Last 6.25 GBp
Change Today +0.25 / 4.17%
Volume 1.5M
RLD On Other Exchanges
As of 11:30 AM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

richland resources ltd (RLD) Snapshot

6.00 GBp
Previous Close
6.00 GBp
Day High
6.25 GBp
Day Low
6.00 GBp
52 Week High
05/21/15 - 6.25 GBp
52 Week Low
02/2/15 - 1.25 GBp
Market Cap
Average Volume 10 Days
-0.0069 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for RICHLAND RESOURCES LTD (RLD)

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richland resources ltd (RLD) Details

Richland Resources Ltd, together with its subsidiaries, mines, distributes, and sells tanzanite, a precious stone found in Tanzania. The company also has interests in various tsavorite deposits in Tanzania, as well as an option to acquire a sapphire prospect in Australia. In addition, it conducts outside buying; operates beneficiation facilities; manages tanzanite grading and certification; and markets rough and polished tanzanite, as well as explores for other colored gemstones. The company was formerly known as TanzaniteOne Limited. Richland Resources Ltd was incorporated in 2004 and is based in Hamilton, Bermuda.

richland resources ltd (RLD) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $25.0K
Compensation as of Fiscal Year 2014.

richland resources ltd (RLD) Key Developments

Richland Resources Ltd. Announces Commencement of Production Mining for Sapphire Gemstones At the Capricorn Sapphire Mine, Queensland Australia

Richland Resources Ltd. announced that production mining for sapphire gemstones has commenced at the Capricorn Sapphire mine, located in Queensland Australia. Mining of Open-pit 1, located within the defined JORC Resource, is now underway with sapphire bearing ore being processed through Capricorn Sapphire's purpose-built alluvial processing plant. Material concentrated by the processing plant are then further processed and sorted at Richland's secure complex located within the nearby town of Emerald, Queensland. Sapphire recovery will be conducted under advanced security systems at the complex as part of the 'no touch' mining process currently being developed. The Capricorn Sapphire mine is one of the large of its kind in the southern hemisphere, capable of treating up to 200 loose cubic metres (LCM) per hour. A staggered ramp up to full-scale production will occur over the following months in order to test and optimise all mining circuits under production mining conditions. The initial mining phase is being conducted in an area of approximately 1 acre located within the area where the recent infill drilling was conducted. The drilling campaign of 633 metres over 57 holes is the first phase in a campaign that will confirm and expand the data from the pre-existing JORC resource, established in 2004. The infill drilling enabled the formulation of the current mine design and scheduling to the maximisation of mining efficiencies. The drilling allows for accurate modeling of overburden depths and gravel thicknesses as well as bedrock profiling. The drilling campaign is being managed by Mr. Andrew Cunningham, an alluvial diamond and gemstone exploration specialist who previously worked with De Beers and has been involved in a series of diamond and gemstone mining operations and expansions. With mining and processing now underway, Richland expects its first sapphire sales in late June to coincide with the Hong Kong Jewellery & Gem Fair.

Richland Resources Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2014

Richland Resources Ltd. announced audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of $995,000 compared to $75,000, operating loss of $1,413,000 compared to $1,733,000, loss before taxation and for the year loss from continuing operations attributable to owners of the parent company of $1,410,000 or 0.70 cents per basic and diluted share compared to $1,733,000 or 1.47 cents per basic and diluted share and net loss of $15,305,000 or 6.90 cents per basic and diluted share compared to $4,470,000 or 3.79 cents per basic and diluted share for the last year. Net cash utilised in operating activities was $292,000 compared to net cash from operating activities $1,135,000 and purchase of property, plant and equipment was $1,198,000 compared to $1,252,000 for the last year.

Richland Resources Ltd Announces Commencement of Mining, Queensland Australia

Richland Resources Ltd. announced that pre-production mining has commenced at the Capricorn Sapphire mine, located in Queensland Australia. Mining operations are underway and all earth moving machinery required for production is on site. Current operations are focussed on the development of the first open pit, "Pit 1", which will host the initial phase of sapphire mining during 2015. Topsoil and overburden removal has commenced as part of the development of Pit 1, which is located within the pre-existing JORC defined sapphire resource. As part of the pit development work a drilling contractor is on site and is working with Richland's geologists to define Pit 1's final open pit design, layout and mining. Following completion of the production design work confirmation and definition holes will also be drilled to enhance the Company's understanding of the resource. The use of a small-scale processing facility has been secured near the mine and independent geologists and engineers are currently running samples through this pilot plant for assessment. Sapphires have been recovered. Earth moving work is also underway to stabilise and rehabilitate areas disturbed by earlier operations. In addition to benefiting the production mining start, this work has been undertaken by Richland as part of its commitment to the Queensland Government to help remediate the historic mine workings. Plant testing continues successfully with the various circuits being configured for maximum efficiency. Cameras and other security measures are currently being installed at the processing plant. Final sapphire separation, sorting and grading of the concentrate will be undertaken at the secure facility in the neighbouring town of Emerald overseen by full modern gemstone security systems. Richland currently anticipates its first commercial sapphire recovery in May 2015 in preparation for sale of sapphires in June 2015.


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