Sapphire miner Richland Resources (LON:RLD) has already met its production target for the current quarter as its Capricorn mine in Australia ramps up.
The miner had expected to produce 250,000 carats at a size above 4mm in the final three months of 2015, but has surpassed that already.
March 2016 is now pencilled in for a first sale of higher quality sapphires.
During November, Richland sold 159,000 carats of lower quality sapphires and corundum, which generated revenues of around US$213,000 at an average price per carat of US$1.34.
Richland said it has also been awarded two more exploration licences in Queensland,
Bernard Olivier, Richland’s chief executive, said he was delighted with the first sale of lower quality sapphires.
“We have already recovered a large number of higher quality sapphires and these are currently being prepared for either the higher quality sale in H1 2016 or for potential sale on our online retail division.”