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Richland Resources CEO hoping for swift return to profitability in Australia

Bernard Olivier, the chief executive officer of Richland Resources (LON:RLD), says the company decided it was better ‘to focus on a project that we believe will return us to profitability very shortly’.

Richland today revealed it has completed its exit from Tanzania with the receipt of US$5.1mln from new owner Sky Associates after security issues at its tanzanite mine.

The company is now focused on its Capricorn sapphire project in Queensland where first sales through its existing sight system are anticipated this half year.

Quick facts: Richland Resources Ltd

Price: 0.0755 GBX

AIM:RLD
Market: AIM
Market Cap: £773.75 k
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