LONDON (Alliance News) - Richland Resources Ltd on Monday said it is on track with its Capricorn sapphire mine redevelopment programme in Queensland, Australia, with production from the site still being targeted for the first quarter of 2015.
Richland said the reassembly of the plant at Capricorn is set to complete in the next 10 days, with all engineering work to be done within 15 days to allow electrical work to start.
"A series of key engineering tasks have now been completed at the Capricorn sapphire mine in Queensland, and no major issues have surfaced affecting the commissioning schedule. Our objective is to be able to rapidly restart sapphire production at the mine and sell quality, certificated sapphire sourced within a politically stable region for mining," said Richland Chief Executive Officer Bernard Olivier.
Richland shares were untraded on Monday, last traded at 2.75 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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