Richland Resources Ltd Announces Unaudited Operational and Sales Results for the First Quarter of 2016; Provides Operational and Sales Guidance for the Second Quarter of 2016
The company reported 415,456 carats produced during first quarter of 2016 as part of production and ramp-up process. 34,603 tonnes of sapphire bearing alluvials mined and processed.
The company has set a ramp-up target of 600,000 carats for second quarter of 2016 which takes into account the reduced mining and processing that occurred during the quarter to date while the operational upgrades, modifications and infrastructure work were completed. Increased sales are currently scheduled for the remainder of second quarter of 2016 for material already mined, processed, sorted and graded.