JOHANNESBURG (miningweekly.com) – Aim-listed Richland Resources met production targets at its Capricorn sapphire mine in Queensland, during the third quarter ended September 30, producing 801 443 ct of sapphire and corundum.
The average grade mined was 14 ct/t from 55 985 t of mined and processed alluvial material.
The company sold 241 000 ct of rough and untreated material at an average price of $0.59/ct to earn revenue of $143 000.
A further 250 000 ct of rough sapphire and corundum was sold post the third quarter at an average price of $1.39/ct to earn $348 000.
“During the [third] quarter, Richland concluded an extensive review of our sales and marketing systems and strategies,” noted CEO Bernard Olivier.
Richland has started preparations for the final stage of its production ramp-up to 1.2-million carats a quarter during 2017.