BlueRock Diamonds PLC Production and Sales Update (0832M)
July 26 2017 - 1:01AM
UK Regulatory
TIDMBRD
RNS Number : 0832M
BlueRock Diamonds PLC
26 July 2017
26 July 2017
BlueRock Diamonds PLC
("BlueRock" or the "Company" or "BRD")
Diamond Sales and Production Update
BlueRock Diamonds plc, the AIM listed diamond mining company,
which owns and operates the Kareevlei Diamond Mine in the Kimberley
region of South Africa ("Kareevlei"), announces an update on its
July 2017 diamond sales tender and production.
In July 2017, a parcel of 330 carats was sold at tender,
achieving an average of $395 per carat. The diamonds produced and
included in July's sales tender has resulted in a small increase to
Kareevlei's average diamond grade achieved during 2017 from 1.6cpht
to 1.7cpht.
The Board also announces that production has continued to
improve with total tonnage for July expected to be c.20,000 tonnes,
an increase of over 35% on the production of 14,427 tonnes achieved
for June 2017. It is the Company's target to achieve monthly
production of 25,000 tonnes during Q4 2017.
As noted previously the Company is currently exploring options
for providing additional financing in order to fund its operations
while it further develops the Kareevlei mine and further
announcements will be made in due course.
Adam Waugh, Chief Executive Officer of BlueRock Diamonds,
commented: "We are pleased to have achieved $395 per carat in the
July tender, including our highest dollar per carat valuation to
date of $7,054 for a 5.5 carat diamond. It is particularly pleasing
to be achieving such a high average value for our production
without relying on large diamonds.
"We are encouraged by the increase in monthly production,
following the mine, plant and design optimisation work undertaken
this year, as we approach our target of 25,000 tonnes per month. As
we move into deeper ground in line with our mine plan, following
the final blast of upper level Kimberlite in early August, we
expect grades to continue to improve. In the meantime we intend to
provide further updates on the funding of our operations and
developments as we progress towards operational profitability in
due course."
For further information, please contact:
BlueRock Diamonds awaugh@bluerockdiamonds.co.uk
plc
Adam Waugh, CEO
SP Angel (NOMAD and
Broker)
Stuart Gledhill
Lindsay Mair +44 (0)20 3470 0470
Yellow Jersey (PR
and IR)
Felicity Winkles
Joe Burgess
Katie Bairsto +44 (0) 7769 325254
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the
Kimberley region of South Africa. BlueRock own a diamond processing
plant and the mining right over the Kareevlei Tenements in South
Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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