BlueRock Diamonds PLC Diamond Sales and Production Update (8296O)
August 24 2017 - 1:00AM
UK Regulatory
TIDMBRD
RNS Number : 8296O
BlueRock Diamonds PLC
24 August 2017
24 August 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 August 2017 diamond sales
tender and production.
In August 2017, a parcel of 400.06 carats was sold at tender,
achieving an average of $330 per carat. The diamonds produced and
included in August's sales tender has resulted in a grade of 2.07
cpht showing an increase to Kareevlei's previous average diamond
grade achieved during 2017 of 1.7cpht.
As noted previously production has continued to improve with
July's total production of 20,200 tonnes representing an increase
of 40% on the production achieved in June 2017. The total tonnage
for August is on target to exceed July's total.
Adam Waugh, Chief Executive Officer of BlueRock Diamonds,
commented: "I am pleased to say that our efforts over the past 18
months continue to bear fruit. Having recently raised capital to
further improve our production levels and provide working capital,
we are on track to reaching our target production of 25,000 tonnes
per month. Prices per carat continue to exceed expectations and
recovery grades are beginning to improve.
"We are now well on our way to achieving profitable mining with
the expected further improvement to grades as we begin processing
the sub 20 metre level kimberlite in September."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information, please contact:
BlueRock Diamonds plc
Adam Waugh, CEO
awaugh@bluerockdiamonds.co.uk
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
UPDQXLFLDVFLBBF
(END) Dow Jones Newswires
August 24, 2017 02:00 ET (06:00 GMT)
Bluerock Diamonds (LSE:BRD)
Historical Stock Chart
From Apr 2024 to May 2024
Bluerock Diamonds (LSE:BRD)
Historical Stock Chart
From May 2023 to May 2024