RNS Number : 2966H
BlueRock Diamonds PLC
05 April 2022
 

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

5 April 2022

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

 

Diamond Sale Update

 

4 High Value Diamonds sold in March tender

 

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, is pleased to announce that four larger gem quality stones were sold in the March tender as follows:

.

Carats

Value

USD000

Value per carat USD000

19.3

116

6

12.7

128

10

8.7

104

12

6.6

63

9.5

 

 

Notably, the average tender price of the total parcel was over USD1,000 per carat, which is significantly above the 2021 average of USD465 per carat and follows on the back of the strong January and February 2022 tenders, which recorded an average price of circa USD600 per carat.

 

Mike Houston, Executive Chairman said, "It is very pleasing to announce the recovery of another four high value diamonds, which were sold in our latest tender. The market is obviously being influenced by the current geopolitical situation and this is partially reflected in our latest average tender price. However, the overall supply side of rough diamonds has been tight for some time and is very likely to remain so for the foreseeable future; we therefore anticipate strong ongoing demand for the high quality Kareevlei parcel of diamonds.    

 

"Following our successful fundraising of last week, management are focused on ramping up our new processing plant, which will see production almost double to 36,000-43,000 carats. 2022 will be a transformational year and we look forward to the road ahead amid positive market fundamentals."

 

Large stones recovered in 2022

 

Date sold 2022

Carats

Value

USD000

Value per carat USD000

March

19.3

116

6


12.7

128

10


8.7

104

12


6.6

63

9.5


 

 

 

February

11.9

211

17.6


8.3

96

8.3


13.6

78

5.8


7.5

75

10

January

6.8

63

9.3

Top 5 sales 2021




August

58.6

585

10

August

21.6

268

12.4

August

14.3

236

16.5

January

14.8

163

11

March

8.4

89

10.6

Note: It is Company policy to announce all stones sold with a value of in excess of USD50k.

 

ENDS

 

 For further information, please www.bluerockdiamonds.co.uk or contact:

 

Mike Houston

David Facey, FD               

BlueRock Diamonds PLC

 

m.houston@bluerockdiamonds.co.uk

dfacey@bluerockdiamonds.co.uk

Stuart Gledhill

Caroline Rowe

SP Angel

NOMAD & Broker

Tel: +44 (0)20 3470 0470

Isabel de Salis   

Oonagh Reidy

 

St Brides Partners Ltd Financial PR

 

info@stbridespartners.co.uk

 

 

Notes to editors:

BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes with a combined inferred resource of 10.4 million tonnes / 516,200 carats (February 2021); based on its planned production of 1 million tonnes per annum, this provides a minimum 10-year life of mine.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISIAMFTMTAMMRT