Rockwell Posts 50% Rise in Total Carat Sales in Fiscal Q3
December 10, 13
 Rockwell's Saxendrift operation. |
There was a 111-percent increase in carat production along with an all-time record quarterly carat production for the company from its assets in the Middle Orange River region in South Africa of 101 percent.
Revenues from diamond sales, excluding beneficiation, increased for the sixth consecutive quarter, while sales revenues from its own operations, excluding royalty mining, up 97 percent.
Rockwell’s MOR operations delivered a 117-percent increase in carat sales, which together with a 24-percent increase in average carat value to $2,198 from that region translated into a 169-percent increase in the value of sales to $7.8 million.
"These results confirm Rockwell’s strategic focus on its MOR operations, as the company delivers on milestones towards its midterm target to increase monthly production volumes to 500,000 sq m to smooth its production profile and increase the recovery of large diamonds," the firm said in a statement.
CEO and President James Campbell, said: “We are pleased that our production and sales figures for the third quarter show that our strategy to focus on the Middle Orange River region is bearing fruit. We more than doubled our carat production and sales from these properties while the value of sales increased almost threefold to $7.8 million and the average price per carat increased 24 percent.
"Our total value of sales from company properties increased 45 percent to $10.7 million, showing a sixth consecutive quarter of US dollar denominated growth. Furthermore, the extra ordinary recovery of the five rough diamonds exceeding 115 carats since the end of August 2013, the largest of which was 287 carats, reinforces the merits of this Middle Orange strategy.”