BlueRock Diamonds PLC Recovery of Three Large Gem Quality Stones (4868S)

TIDMBRD

RNS Number : 4868S

BlueRock Diamonds PLC

17 March 2021

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

17 March 2021

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

Recovery of Three Large Gem Quality Stones

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 the recovery of three gem quality stones of 10.6 carats, 9.8 carats and 8.4 carats.

BlueRock Executive Chairman, Mike Houston, said, "I am very encouraged by the recovery of these three high value gem quality stones following on from the sale in January 2021 of a 14.8 carat stone for USD167,000. The average price that we have received for the first two months of 2021 was an excellent USD423 per carat and I look forward to updating the market on the results of the March tender, when we publish our quarterly report in early April."

Top five Kareevlei diamonds by value to date

 
 Date Recovered     Carats   Sales Value USD   Value per carat 
                                                           USD 
 October 2019         20.7           236,000            11,400 
                   -------  ----------------  ---------------- 
 February 2019        24.9           190,000             7,900 
                   -------  ----------------  ---------------- 
 December 2020        14.8           167,000            11,000 
                   -------  ----------------  ---------------- 
 July 2019            12.2           105,000             8,600 
                   -------  ----------------  ---------------- 
 September 2020*      12.1           104,000             8,600 
                   -------  ----------------  ---------------- 
 

* based on valuation as sold as part of a parcel.

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.

ENDS

 
 BlueRock Diamonds PLC                [e-mail] 
  Mike Houston                         [e-mail] 
  David Facey, FD 
 SP Angel (NOMAD and Broker)          [e-mail] 
  Stuart Gledhill / Caroline Rowe 
                                    --------------------------------- 
 St Brides Partners Ltd (Financial    [e-mail] 
  PR) 
  Isabel de Salis / Cosima Akerman 
  / Susie Geliher 
                                    --------------------------------- 
 

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.

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March 17, 2021 03:00 ET (07:00 GMT)