Richland Resources Ltd Appointment of Sightholders and Supply Agreement (2278J)
June 27 2017 - 2:01AM
UK Regulatory
TIDMRLD
RNS Number : 2278J
Richland Resources Ltd
27 June 2017
27 June 2017
Richland Resources Ltd
("Richland" or the "Company") (AIM: RLD)
Appointment of Sightholders and Exclusivity and Supply
Agreement
Richland (AIM:RLD), the gemstones producer and developer, today
announces that its wholly owned subsidiary, Capricorn Sapphire Pty
Ltd ("Capricorn Sapphire"), has appointed its first Sightholders
and has also entered into an exclusivity and supply agreement.
Appointment of first Sightholders
The Company announces the implementation of its Capricorn
Sapphire Sightholders System with the appointment of Royal Touch
LLC ("Royal Touch") and China Stone Co, Ltd ("China Stone") as
Capricorn Sapphire Sightholders.
Royal Touch has had a long and successful working relationship
with the Company and was previously a Sightholder for Richland's
tanzanite mining operations in Tanzania (Tanzanite One Mining Ltd).
Royal Touch has an extensive consumer network, especially in the
United States of America, and amongst others, has close
relationships with certain television sales networks.
China Stone is a world-leading provider of precision-cut natural
gemstones in a strictly uniformed and digitally calibrated array of
colours, proportions and sizes. It delivers a wide range of natural
gemstones to fine jewellers, watchmakers and luxury trade
professionals throughout the world.
Exclusivity and Supply Agreement
In addition to appointing Royal Touch as a Sightholder, the
Company has also entered into an Exclusivity and Supply agreement
with it in respect of its fully heated green sapphires. Under the
terms of the agreement, Capricorn Sapphire are now supplying Royal
Touch with all of the Company's heated green sapphires on an
exclusive basis for the majority of the size fractions. The
sapphires are heated at Capricorn's beneficiation facility in
Thailand. As part of the agreement, the company is also
guaranteeing Royal Touch a minimum monthly supply of heated green
sapphires to enable Royal Touch to commit to the marketing and
market development of such unique and exceptional coloured
sapphires.
More information on, and contact details for both, China Stone
and Royal Touch will shortly be available on Richland's website at
www.richlandresourcesltd.com.
Bernard Olivier, Chief Executive Officer of Richland,
commented:
"I am delighted to announce the appointment of China Stone and
Royal Touch as our first Sightholders for Capricorn Sapphire and
the exclusivity and supply agreement with Royal Touch. We look
forward to taking our ethically-mined, fully-complaint and
conflict-free sapphires to the world's markets through these and
similar partnerships going forward."
For more information please contact:
Bernard Olivier Edward Nealon Mike Allardice
Chief Executive Chairman Group Company Secretary
Officer +61 409 969 955 +852 91 864 854
+61 4089 48182
Laurence Read Nominated Adviser Broker
Corporate Development Strand Hanson Shore Capital Stockbrokers
and Communications Limited Limited
Officer James Harris Jerry Keen (corporate
+44 (0) 20 3289 Matthew Chandler broking)
9923 James Dance Toby Gibbs / Mark
+44 (0) 20 7409 Percy (corporate
3494 finance)
+44 (0) 20 7408
4090
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
Further information is available on the Company's website:
www.richlandresourcesltd.com. Neither the contents of the Company's
website nor the contents of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
The online retail division, www.richlandgemstones.com, was
re-launched in H1 2016 and currently features a growing range of
unique, exotic, fancy coloured sapphires directly from the
Capricorn mining operation as well as tanzanite sourced through the
Company's ongoing connections and industry relationships following
the historic sale of its tanzanite mine.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 27, 2017 02:01 ET (06:01 GMT)
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