Mario Ikasovic of Opalus with a handful of top quality opals worth close to $250,000 in the export market.

FOUR Lightning Ridge businesses have received nearly $80,000 in federal government funding to maintain a healthy export market for opals.
Lightning Ridge Opal Co, Peter Carroll Opal and Gems, Opalus and Hynagain  have been awarded Austrade export  market development grants.
Most of the companies had received a number of these grants, and they had been especially important for maintaining markets in the United States - especially after September 11, according to Mario Ikasovic of Opalus.
“The US market was probably 10 percent of our business five years ago - now it has grown to around 50 percent,” Mr Ikasovic said.
“We have created a niche in the US supplying the high end jewellery stores and collectors who appreciate the rarity of Australian opals.
“The grants mean I  can  travel to the US three times a year instead of  twice to service our clients.”
While the rising Aussie dollar was squeezing margins for dealers, it was “indirectly helping the opal industry” making opals even more affordable for overseas buyers, he said.
Philip Tramontanas of Lightning Ridge Opal Co said the grants had given him “the money you need to spend to go and create a market base.”
“But the grant didn’t guarantee success - that came from a business plan, knowledge and commitment,” he said.
“I’m still travelling and I’m seeing more clients - manufacturers, collectors, retail outlets and private owners.”
Opal sales had been hit by September 11,  as well as by the amount of lower quality opals coming onto the market, Mr Tramontanas said.
“The quality of opal is not as good as previously,” he said.
“Good quality stones should always attract a premium but when there are less on the market and more low grade stones it is difficult to sell the better grade and keep the prices up.”