Rockwell H1 Sales Average $718 p/c

Alluvial diamond miner Rockwell Diamonds Inc produced 11,957.16 carats in the six months ending August 31, and sold 11,235.99 carats at an average price of $718.22 per carat, the company said in a financial statement on Friday. The miner posted a $6.36 million loss for the period on earnings of $9.44 million from sales.

Rockwell is engaged in alluvial diamond production with focus on the mining and development of alluvial diamond deposits that yield high value gemstones. The Company has three active alluvial operations: Holpan, Klipdam and Saxendrift. A fourth operation, Wouterspan, is currently in a state of care and maintenance.

According to the statement, the company exceeded its target of 2,500 carats per month from its three operating mines during the period June to September 2009, including a production record of 3,016 carats in September.

Rockwell said it achieved an average operating cost of $2.72 per tonne in the six month period. The average cost for all the operations including rehabilitation, hire purchase payments and royalties was US$4 per tonne.

The company said it is “encouraged with the recent improvement in its sales prices which reflects a combination of improved market conditions and a better diamond mix from increased production levels. “

Average diamond price received by Rockwell increased by 54 percent to $855 p/c during the quarter ending August 31, up from $555 per carat obtained in the first quarter.