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Richland Resources (LON:RLD) has scheduled the first sight sale of sapphires from its new operation at Capricorn in Queensland for this quarter.
A slower than expected production ramp-up meant Richland only put on display and education sessions at last month’s Hong Kong Jewellery Show.
From that, two site visits have been arranged to see the operation.
“Our product display at the June 2015 Hong Kong Jewellery Show, was well received by major gemstone trade buyers, manufactures and distributors, said Bernard Olivier, chief executive.
Richland’s new online platform richlandgemstones.com has now been launched, which will also include tanzanite under the Merelani Tanzanite brand.
Some stones mined already are being cut and the first blue and coloured sapphires are expected to be available to buy online in September.
Olivier added "Despite the disappointment of the production delay during the first few months of ramp up, I believe we made the correct decision in delaying the first sight sale. “
Broker Shore Capital noted that according to the company, the electrical issue that affected the Capricorn plant last month has been rectified.
On the product display and education sessions on Capricorn Sapphire gemstones at the Hong Kong Jewellery Show last month, analyst Yuen Low said he was encouraged that nine potential sight holders (including representatives from major retail distributors and manufacturers) attended.
Richland shares added 8.57% on the day to 4.75p.