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RAPAPORT... Rockwell Diamonds reported that rough sales rose 15 percent year on year to $8.76 million for the first quarter that ended on May 31. The company sold 6,677 carats, an increase of 34 percent from one year ago, while the average price was $1,312 per carat, down 14 percent from 2013. Production jumped 90 percent to 9,162 carats, with 4,800 carats derived from the company's royalty mining contractors. James Campbell, Rockwell's CEO, said, "Rockwell's first quarter performance shows continued growth in volume of gravel processed and carat production from company properties, with increases of 26 percent and 90 percent, respectively. These results are underpinned by our increasingly diversified production profile in the Middle Orange River, where we now have three producing mines, all of which have multiple mining faces. The region's carat production increased 89 percent, while carats sold were up 30 percent and we entered the second quarter with 2,966 carats of high-quality rough diamonds in inventory." Rockwell recorded improved performance at its Niewejaarskraal operation, where rough prices achieved $2,408 per carat.
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