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     Latest News: Rockwell Diamonds Inc. ROCKWELL [RDI]
     Wed, 15 Jun 2016 Official Announcement [Y] 
    Rockwell - quarterly production and sales
    Rockwell reports improved productivity and increased sales; good progress on the Wouterspan construction project.Rockwell Diamonds Inc. announces its quarterly production and sales update for the three months ended May 31, 2016:

    Salient features
    • Strategy - Rockwell continues to pursue its medium term target to process 500,000m3 of gravel per month in the Middle Orange River (“MOR”). Immediate focus is on:
    • the construction and commissioning of the plant at Wouterspan (“WPC”) by August 2016,
    • continuous improvement of mining throughput at Remhoogte (“RHC”),
    • the cost effective wind down of Saxendrift by August 2016, and
    • the transition to an outsourced mining contract to externalize mining volumes and equipment risk.
    • Volumes - were up 32% on Q1 2016 and 7% on Q4 2016, chiefly due to substantially higher volumes mined and processed at RHC.
    • Grades - MOR grades were up 12% on Q4 2016 owing to better recoveries from the middlings material at Saxendrift (which was up 21%) mitigating a drop in grades at RHC (down 11%).
    • Carat sales - 4,880 carats, up 3% on Q4 2016 and 59% Q1 2016.
    • Value of sales - increased 31% from Q4 2016 and 67% on Q1 2016, to US$9.1 million (excluding beneficiation). Total sales (including royalty contractors’ production but excluding beneficiation) were also up by 31% on Q4 2016 and 40% on Q1 2016.
    • Average price per carat - improved by 27% on Q4 2016 to US$1,864.
    • Notable recoveries - thirty +20-carat stones recovered at Saxendrift and RHC, with the three largest stones being +96, +90 and +60.
    • Rough diamond inventory - 997 carats were carried over into the second quarter of fiscal 2017 (including royalty contract goods).
    • Safety - at May 31, 2016, the Company had achieved 1,500,000 lost time injury free hours (“LTIFH”) at its MOR operations.
    • Construction - progress continues on the Wouterspan project, with construction almost completed, and commissioning scheduled from August.
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    Closing price data source: JSE Ltd. All other statistics calculated by ProfileData.
       

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