Richland Resources Share Discussion Threads

[steve36] 17/10/2012 09:54

The irony is that the uncertainty has caused the share price to fall by more than 50%

[napoleon111] 17/10/2012 08:26

17 October 2012
Richland Resources Ltd
("Richland" or "the Company") (AIM: RLD)
Interim Permission to Export,
Re-Audit of Royalty Payments by Tanzanian Minerals Audit Agency
and
Restoration of Trading on AIM

Richland Resources Ltd, the London Stock Exchange, AIM quoted gemstones producer and developer, today announces that it has received interim permission to resume export from the Ministry of Energy and Minerals (the "Ministry") in Tanzania.

The interim permission was received after extensive discussions between the Company and the Ministry and will apply during the re-audit of financial records of the Company's subsidiary, TanzaniteOne Mining Limited ("TML"), by the Tanzanian Minerals Audit Agency ("TMAA") with regards to an additional, retrospective royalties claim relating to the period from 2004 to 2008 and which amount to a further US$1.73m (as announced on 8 October 2012).

A letter, received from the Ministry, states that, as agreed with the Company, the TMAA has commenced a re-audit of the financial records of TML for the period 2004 to 2010 in order to establish the amount, if any, of additional royalties payable. The Company will provide its full support and assistance with the re-audit. The conclusion of this re-audit is not expected for several weeks.

The Ministry will also resume all other support to the Company's mining activities.

In conjunction with this announcement, the Company has applied for the restoration of trading in its Ordinary Shares on AIM to be resumed from 7.30 am today.

For more information please contact:

Bernard Olivier
Chief Executive Officer
[phone]

Willi Boehm
Company Secretary
[phone]


Nominated Advisor & Broker (AIM)
RFC Ambrian Limited
Samantha Harrison/Jen Boorer
[phone]

Joint Broker XCAP Securities PLC
John Grant/Jon Belliss/David Newton
[phone]

Newgate Threadneedle Communications
Beth Harris
[phone]
[phone]

[giant steps] 16/10/2012 19:27

14th October 2012

TanzaniteOne rejects calls to give 50pc stake to govt firm



Extract
"
Executive chairman Ami Mpungwe said the firm's shareholders comprised institutions like pension funds, whose interests could not be taken for granted. They could not be dispossessed of their shares through a "simple announcement."
But Mr Mpungwe said the company was negotiating a solution with the State.
"

[buywell2] 09/10/2012 07:21

If it looks like a dog...... barks like a dog ...... sniff it's @rse like a dog


It's a dog





Ch1ck 9 Aug'12 - 17:26 - 278 of 286

Back in looking for a turnaround quite soon





buywell2 9 Aug'12 - 18:04 - 279 of 286 edit


I don't think so





SP from 9th Aug

[zaksab] 09/10/2012 01:10

they have an option to buy australian sapphire assets. this has been extended at least once but will probably be left to lapse. safe to say that option will be far from management's or anyone else's mind at this moment. for RLD it is all about trying to survive some sort of value for those unfortunate enough to be on the present register.

[brando69] 08/10/2012 19:15

at least they have their ozzie assets still, don't they?

[zaksab] 08/10/2012 17:01

yes defacto expropriation imo. Result will be ,if the company is still to exist, massive dilution for shareholders either directly by the government or by some vulture who comes in and foots the bill (possibly management if they can raise the cash).

[frogkid] 08/10/2012 16:51

yep. that is why I sold out of SHG also. Still got these though as at least there is some value even if we do get bought out cheap by the Pirates of Tanzania

[brando69] 08/10/2012 16:46

only one winner here: tanzanian govt

[zaksab] 08/10/2012 16:44

sad but dead

[scientologyweirdo] 08/10/2012 16:31

Would be selling other Tanzania rubbish like KIBO on back of this

[giant steps] 08/10/2012 16:18

So it's for $1.73m historic royalty charge 2004 to 2008

[frogkid] 08/10/2012 11:08

I wonder if the illegal mining will mysteriously stop once we have given the Govt 50% of the company for nothing

[frogkid] 08/10/2012 11:02

good find Napoleon but not sure of the accuracy of some of that reporting

regards

frog

[giant steps] 08/10/2012 10:51

Sounds like old news from early summer

[frogkid] 08/10/2012 09:10

brando's approach is right. I have been in and out of these for years but in the last 12 months they have been a great diappointment. Best forget them. RLD is the reason I also sold out of SHG. I dont trust the Tanzanian Govt. Actually I trust very few African Governments which is why I am slowly shifting into European and American miners

[horndean eagle] 08/10/2012 08:52

Should really have let GEM takeover here. May well end up being the end result but negotiating from a position of weakness won't help shareholders.

[brando69] 08/10/2012 08:42

can't be bothered to discuss - it's all in the story if you follow it back - I am forgetting about my RLD holding for now. maybe I'll get a nice surprise, but I doubt it...

[brando69] 08/10/2012 08:35

or seizure of assets by the Tanzanian govt

[knigel] 08/10/2012 08:16

I was looking to get back in as i thought share price was way oversold..really hope its "just" a fund raising and will be relisted

[brando69] 08/10/2012 08:15

yeah, don't hold your breath