URA reports improved recovery rate at Gravelotte; readies for first trial emerald sale
London-listed gemstone miner URA Holdings will hold its first trial emerald sale for gemstones recovered from its Gravelotte mine, in South Africa, later this year.
The company reports in an update to shareholders that it has achieved early production targets at the mine, which started phased production on April 29.
URA states that an optimal emerald recovery rate in excess of 80% has been established; that an average grade of 30 ct/t has been achieved; and that the average processing rate is between 60 t and 70 t a day, with further increases expected in the months ahead.
Further, several larger emeralds, including a 50 ct emerald, were recovered in July.
"We are highly encouraged with the progress being made at the Gravelotte mine. Our current emerald grade of over 6 g/t validates our expectations and the improvements in our processing systems have set a solid foundation for increased output. The successful recovery of larger emeralds, including a 50 ct emerald, and the achievement of an optimal recovery rate, are significant milestones.
"We are on track for our first trial sales later in the second half of this year, and I am particularly proud that we have achieved this without any lost-time injuries or reportable accidents. These accomplishments reflect the dedication and hard work of our team, and we are optimistic about the continued potential of Gravelotte," says URA chairperson Ed Nealon.
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