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Sapphire Production starts at Richland Resources - a worthwhile speculation

By Robert Tyerman | Wednesday 20 May 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM favourite Richland Resources (RLD) is now producing sapphires from its Capricorn mine in Queensland and expects to hold its first sales of blue and coloured gemstones in Hong Kong next month. After a long process of transformation, the company, chaired by veteran mining entrepreneur Ed Nealon (of Aquarius Platinum fame), argues Capricorn, part of Australia’s Nardoo gem deposit and currently boasting a formal resource of 21.6 million grammes or 109 million carats, has ‘the potential to become the world’s largest sapphire mine’, citing surveys showing average sapphire prices have risen 75% over the past decade.


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