LONDON (Alliance News) - Richland Resources Ltd shares were trading higher Wednesday morning after the company said it has now completed the sale of its tanzanite mining, beneficiation and tsavorite licence interests in Tanzania to Sky Associates Group Ltd.
Sky is buying the assets for USD5.1 million, with USD4.1 million paid to Richland on closing.
Richland said it will now focus on mining commissioning for the Capricorn Sapphire project in Australia in the first quarter of this year.
Richland shares were up 20% to 2.25 pence on the news, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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