Tanzanite One, the gemstones producer and developer today announced an operational, sales and marketing update.
TanzaniteOne Cutting Edge focuses on precision cutting and visual optimisation of predominantly lighter coloured tanzanite in Tanzania. With the Group's significant share of the world's tanzanite resource and its experience and expertise with respect to the tanzanite industry, it has the potential to supply, shape and structure the tanzanite market. The TanzaniteOne Group is a vertically integrated business, focused on tanzanite. The group conducts exploration, mines, beneficiates (cuts, polishes, grades, certificates and packages), and markets and sells tanzanite (both rough and polished) and tanzanite jewellery.
The Company announced that new sales and marketing channels are being developed through partnerships with established cutting and distribution houses, for example Hohoemi Brains and Alankara SKR.
According to the announcement, there were sales of approximately US$1m in through December, bringing totaling sales revenue for Q4 2009 at approximately US$4.5m and for the full year at approximately US$12 million. The next official sight sale is scheduled for March 2010.
In terms of production, the Company produced over 480,161 carats over the quarter, resulting in the total production of 1.91 million carats for 2009 at a grade of 51 carats per tonne. According to the report, this total exceeded the company target set at the start of Jan 09 of 1.7 million carats.
Commenting today Bernard Olivier, Executive Director, said;
"2009 was a year ofrecovery, 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.
Other activity over 2009 included drilling a total of 77 RAB holes over 590m of the tsavorite deposit. Excavations were also being made on the site, the results of which are ready for processing.
