Diamondcorp Plc (LON:DCP) has raised production at its Lace mine in South Africa to the planned rate of 30,000 tonnes per month.
Production at the mine was temporarily suspended in July after an explosives incident, but work on the 310 metres underground level in the Upper K4 Block at Lace restarted last month.
So far, the ore is averaging 31 carats per hundred tonnes (cpht), which is in line with forecasts, though Diamondcorp expects grades to improve as mining of the current block progresses.
Approximately 7,000 carats of diamonds recovered while tunnelling in UK4 will be sold in Antwerp at the end of August.
So far, diamonds recovered include a good proportion of clean sawable stones in all size fractions, including type IIa diamonds, said the company.
Monthly sales after August are expected to be around 9-12,000 carats per month.
New mining fleet vehicles are working well, it added, with the older less reliable trucks now being refurbished.
A new finance director is being sought to oversee the existing finance team, while it is looking for new non-executive directors in each of South Africa and the UK to strengthen the board.
Panmure Gordon kept its target price unchanged at 11.5p and production forecasts intact as it sees the impact of the recent Lace suspension being recovered before the end of the year.
Shares rose 1% to 6.3p.
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