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Last €0.06 EUR
Change Today +0.014 / 31.82%
Volume 0.0
XX4 On Other Exchanges
Symbol
Exchange
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OTC US
As of 2:08 AM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

richland resources ltd (XX4) Snapshot

Open
€0.04
Previous Close
€0.04
Day High
€0.06
Day Low
€0.04
52 Week High
04/21/15 - €0.07
52 Week Low
04/25/14 - €0.0070
Market Cap
12.6M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
217.2M
EX-Date
10/1/08
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for RICHLAND RESOURCES LTD (XX4)

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richland resources ltd (XX4) 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.

670 Employees
Last Reported Date: 07/1/14
Founded in 2004

richland resources ltd (XX4) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $40.0K
Compensation as of Fiscal Year 2013.

richland resources ltd (XX4) Key Developments

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.

Richland Resources Ltd Announces the Redevelopment Operations at its Capricorn Sapphire Mine Located in Queensland Australia

Richland Resources Ltd. announced that the redevelopment operations at its Capricorn Sapphire mine located in Queensland Australia, have been completed and commissioning has commenced on schedule. The development of the Capricorn Sapphire project forms part of the Company's strategy to develop profitable gemstone operations, utilising its experience in coloured gemstone extraction, through efficient use of expenditure. The project offers a significant opportunity for Richland to develop a low cost, coloured gemstone operation selling fully certificated gemstones to the global market place. Queensland, Australia is a long established area for major mining operations, hosting one of the world's major sources for coal. With well-established legislation and permitting for mining in place, Queensland offers significant scope for the creation of a major coloured gemstone hub. Richland will look to launch the Capricorn Sapphire brand within First Quarter 2015 to promote ethically mined, natural Sapphire from Queensland. Refurbishment of the processing plant has been completed and commission testing has commenced. Mining is targeted for March 2015. The purpose-built alluvial processing plant is one of the largest of its kind in the southern hemisphere, capable of treating up to 200 loose cubic metres (LCM) per hour. The Company has also received quotations for the hiring of the required earth moving fleet and other mining machinery in preparation for the commencement of mining in March 2015. The first cash flow from the sales of sapphires mined from the Capricorn Sapphire project is expected in Second Quarter 2015. Richland prepared and submitted its mining plan of operations to the Department of Environment and Heritage Protection as required under section 287 of the Environmental Protection Act 1994. The plan of operations has now been approved and Richland has subsequently lodged the required Financial Assurance with the Department of Natural Resources and Mines in Queensland. The Capricorn Sapphire mine consists of two new mining leases comprising about 490 hectares and associated assets and the project is 100% owned by Richland. The mining leases contain a JORC (2004) Measured Sapphire Resource of approximately 21.6 million grams (109 million carats) of sapphire, based on extensive previous exploration and following a brief period of mining by the previous owners.

Richland Resources Ltd to Close Tanzanite Experience Retail Operations

Richland Resources Ltd. announced that it has further reduced its operations in Tanzania following an on going strategic review. The company is now focusing on the redevelopment of the Capricorn Sapphire mine in Queensland, Australia that is on track to be commissioned during first quarter 2015. Following a review of the strategic options available for its Tanzanite Experience (TTE) retail operations in Tanzania, Richland has decided to close all retail outlets in the country. The Group is in the process of finalizing the sale of TTE tanzanite and jewellery inventory which it anticipates should be completed on or around 2nd February 2015, and the finalization of redundancy arrangements for those employees for whom it was not possible to find suitable employment for elsewhere in the Group.

 

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