Rockwell Diamonds Inc sold US$7 million worth of diamonds from its South African diamond production during the second fiscal quarter ended August, 2011. A total of 3,223 carats were sold during the three-month period, with the average price per carat totaling US$2,187.

Among its South African alluvial operations, 27 carats from Holpan sold for a total of US$4,755, achieving a per-carat price of US$176. From Klipdam, 1,456 carats sold for US$1.5 million, achieving a per-carat price of US$1,030. From Saxendrift, 1,740 carats sold for US$5.5 million, achieving a per-carat price of US$3,186 per carat.

"We are pleased that the high quality of our current production has supported higher selling prices. While the underlying diamond market has increased by some 25% per carat for diamonds such as those typically produced by Rockwell in the past twelve months, our average price for the quarter has more than doubled," says James Campbell, CEO, Rockwell.

"Notable' Stone Recovery

According to Rockwell, production across its operations recovered "strongly" in August after a "disappointing" June and July. In particular, 373 carats were recovered at Rockwell's Saxendrift mine on August 2, 2011, which was a daily record at the mine. Additionally, Klipdam produced 14 stones exceeding 10 carats; and Saxendrift produced 32 stones weighing more than 10 carats, of which 11 stones exceeded 20 carats.

These stones have been passed into the company's beneficiation joint venture with the Steinmetz Diamond Group, which delivers value-added revenues for Rockwell's stones that exceed 2.8 carats. During the quarter, the high-quality stones that were sold through the joint venture included stones of 128.67 carats, 21.52 carats, 33.51 carats and 179.95 carats.