TNZ Tanzanite

 

TIDMTNZ 
 
RNS Number : 3808G 
Tanzanite One Limited 
01 February 2010 
 

1 February 2010 
                              TanzaniteOne Limited 
                  ("TanzaniteOne" or "the Company") (AIM: TNZ) 
                        Operational and Marketing 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 
  *  MoU with O.E cutting and distribution company; Hohoemi Brains Inc. of Tokyo, Japan 
  *  US$ 12.2 million in sales for 2009US$ 4.5 million in sales for Q4 
  *  Total production of 1.91 million carats for 2009 at a grade of 51 carats per tonne 
  *  Continuation of Tsavorite exploration programme 
  *  Appointment of Ambrian Partners Limited as Nominated Advisor and sole broker 
 
 
 
Memorandum of Understanding 
TanzaniteOne Cutting Edge, has entered into a Memorandum of Understanding 
("MoU") with Hohoemi Brains Inc. of Tokyo, Japan ("Hohoemi Brains"). Under the 
terms of the MOU the parties will jointly establish a common cutting and 
marketing concept for selected tanzanite. Cutting will be based on Hohoemi 
Brains patented Over Excellent ("O.E") cut. For more information on Hohoemi 
Brains Inc. please visit their website at: http://www.hohoemi.co.jp/eng/ 
 
 
TanzaniteOne Cutting Edge focuses on precision cutting and visual optimisation 
of predominantly lighter coloured tanzanite. As previously announced, through 
Tanzanite One Cutting Edge, the Company is also establishing sales and marketing 
channels for TanzaniteOne' SI and I grade material. This is being achieved 
through the development of specialised polishing and product strategies and 
joint ventures with established cutting and distribution houses like Hohoemi 
Brains Inc, GRAFGEM S.A., and Alankara SKR Ltd (ASKR Jewelry). 
 
 
Sales 
Further to the Company's announcement of 1 December 2009, sales of approximately 
US$1 million were achieved in December 2009, bringing total sales revenue for 
the fourth quarter of 2009 to approximately US$4.5 million and for the full year 
to approximately US$ 12.2 million (unaudited). The next official sight sale is 
scheduled for March 2010. Additional rough tanzanite sales are planned in 
advance of this in addition to the income generated through the Company's 
Tanzanite Experience retail operations. 
 
 
Production 
In the fourth quarter of 2009, the Company achieved production totalling 480,161 
carats, resulting in the total production of 1.91 million carats for 2009 at a 
grade of 51 carats per tonne, well in excess of the target set by the Company at 
the start of the year of 1.7 million carats. 
 
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. 
 
 
Tsavorite 
In the fourth quarter of 2009 a total of 37 RAB drill holes were completed 
totalling over 590m on the tsavorite deposit. Each hole was geologically logged 
and sampled at 1.5m intervals. Pitting was also completed along a cross-section 
line at 50m intervals, bringing the total number of pits to 15 for the line. In 
addition to the drilling and pitting, 8 samples of approximately 20 cubic meters 
each were also excavated and are currently ready for processing at the on site 
treatment plant. 
 
 
Corporate 
In December 2009 the Company appointed of Ambrian Partners Limited as Nominated 
Adviser and sole broker.Ambrian Partners Limited previously acted as joint 
broker to the Company. 
 
 
Commenting today Bernard Olivier, Executive Director, said; "2009 was a year of 
recovery, following the depressed global gemstone prices of 2008, in which we 
made excellent progress moving back towards profitability. This year we shall 
develop initiatives for cutting and sales in order to maximise value from our 
optimized coloured gemstones operations in Tanzania. I believe TanzaniteOne has 
one of the most efficient and high-tech gemstone extraction operations in the 
world and our objective is to achieve maximum margin potential through our sales 
from coloured gemstones. With this in mind we are very excited about our MOU 
with Hohoemi Brains Inc, which could help us achieve further value from the 
specialised cutting and distribution of the lighter coloured tanzanite. With new 
routes to market already in place and significantly recovered sight sales 2010 
is a year we can start to build value from our first class gemstone recovery 
operations established at the Company since March 2008 by Managing Director Zane 
Swanepoel." 
 
 
Notes to the Editor: 
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 (SI)  | B Colour - Slightly Included    | 
+---------+---------------------------------+ 
| B (I)   | B Colour - Included             | 
+---------+---------------------------------+ 
| BL      | Lighter Colour B grade, Eye     | 
|         | Clean                           | 
+---------+---------------------------------+ 
| BL (SI) | B Light - Slightly Included     | 
+---------+---------------------------------+ 
| BL (I)  | B Light - Included              | 
+---------+---------------------------------+ 
| D       | Opaque Material                 | 
+---------+---------------------------------+ 
 
 
                                      END 
 
 
For more information, please visit www.tanzaniteone.com or contact: 
Willi Boehm, Company Secretary 
+61 8 9367 5211 
 
 
Bernard Olivier, Executive Director 
+61 4089 481812 
 
 
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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