1st Dec 2015 09:55
LONDON (Alliance News) - Richland Resources Ltd on Tuesday said it has already hit its fourth quarter production target for the Capricorn mine in Australia and has secured revenue from the sale of lower quality sapphire and corundum.
Richland said it made USD212,485 in revenue from the sale of around 159,000 carats of lower quality sapphire and corundum in November, with an average price per carat of USD1.34 achieved on the lower quality assets.
The group said its production target for the fourth quarter from Capricorn has already been achieved and said its first auction for high-quality sapphire has been set for the first quarter of 2016.
Richland shares were untraded on Tuesday, having last traded at 3.02 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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