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If it is true there will be fireworks tomorrow.
I cannot believe they found such a large diamond and did not inform the market at the time.
I guess we'll know tomorrow morning one way or the other.
Just emailed Ian Walker
It’s on advfn https://www.advfn.com/stock-market/london/BRD/stock-news/85566389/bluerock-diamonds-sells-39-34-carat-blue-diamond-f
I got an email stating the same info earlier, there was a 66k buy after hours.
If that info is correct then the company should have released that info back in April or referred to it in their last RNS.
I sold out 10 days ago...LOL
BADBOYB,
Can you provide a link for that news item.
To be honest it sounds like a hoax
Can’t see this news anywhere
BlueRock Diamonds PLC said Monday that it has sold a 39.34 carat exceptional Type IIb blue diamond to a partnership between De Beers and Diacore for $40.2 million, the highest ever received by the company for a single stone.
The diamond was recovered at the Cullinan diamond mine, South Africa in April, BlueRock said.
De Beers is a subsidiary of Anglo American PLC.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 12, 2021 11:49 ET (15:49 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Bluerock Diamonds (LSE:BRD)
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Is that it for another 6 months? Obviously undervalued and I'm awaiting the takeover offer.
After such an excellent RNS I'm surprised it's only up 6.74% - surely 67.4% would be more appropriate!
Excellent Q2 numbers with carats produced +117% vLY and average price per carat +48% vLY. This is even before the new plant comes online later this month which will double production. All looking good for a very strong H2
BlueRock Executive Chairman, Mike Houston, said, "It is difficult to compare production and sales numbers versus 2020 where Covid-19 impacted materially on the operations and the market. However, the Q2 figures are very pleasing with the tonnes processed a record and achieved whilst the operation is transitioning to the new plant. Furthermore, the grade has been consistent and the average size and quality of diamonds excellent as reflected in the sales price achieved.
"We continue to develop the main pit in preparation for the projected higher tonnages in the second half of the year once we have commissioned the new plant, which will enable us to hit our run rate production target of 1Mtpa and annual revenue of circa USD16m assuming a grade of 4 cpht and an average sale price of USD400 per carat.
"The market has remained firm throughout the quarter with a strong buyer presence at the local tenders and a robust demand for the Kareevlei product. The overall market outlook is positive with a tightness on the rough diamond supply side and a growing retail sector as global economies continue to open up.
"The Covid situation in South Africa has deteriorated recently but with established mine protocols in place it has not to date impacted on the operations or the planned completion of the expansion project; management continue to monitor the situation closely. I look forward to updating shareholders during what remains a challenging but exciting period for the Company."
Usually get a quarterly update around 12/13th of the following month so should find out early next week. Expecting record quarter production and grades and then this will get more attention. I'm buying more this week while still in the 40s.
First of the two line must be near commissioning by now, surely
Completely agree and Mcap is ridiculously low. Expecting huge increase in carats produced and value per carat vs. LY when they announce Q2 results in mid July. Should then get more people interested. Also think once everything is at full production, Teichmann will make a takeover offer as they will be very profitable and not need any more funding from the market
So they're predicting future revenue to be usd16m/gbp11.5m per annum for the next 10 years with a current market cap of gbp6m. Bit of a no brained this one.
Accordingly, by the end of the year, we expect BlueRock to be a very different company, with annual run rate revenues doubled to +USD16m, and cost per unit cost reduced to c. USD220 per carat, thereby providing a healthy margin compared with our average sale price for 2019 (pre-COVID) of US$415 and the first five months of 2021 of USD424 per carat.
We appreciate that it has been a challenging period and in reality, it has set BlueRock back the best part of a year on its growth plan at the Kareevlei operation and we would like to thank shareholders for their continued support.
However, with the expansion plans coming to fruition, we are highly optimistic for BlueRock's future and look forward to providing further updates on progress.
"The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world, behind the 3,106-carat Cullinan found in South Africa in 1905 and the 1,109-carat Lesedi La Rona discovered in Botswana in 2015." Keep the faith!
7/8 mins in....recommented
https://www.youtube.com/watch?v=TxtMf6B2t8Q
I have read in the press that S.A. Is now experiencing a massive wave of Covid. Hopefully with the mine some 120kms from Kimberley, the guys working the mine will have some measure of protection and we don’t have another lockdown.
From Mining Review Africa: “ AIM-listed diamond producer BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, is on the cusp of completing a major expansion.
At the heart of the expansion is commissioning a new and improved processing plant, writes CHANTELLE KOTZE.
The expansion strategy at Kareevlei is aimed at increasing annual throughput to 1 Mt and extending the life of the mine to a minimum of 10 years, says BlueRock Diamonds COO Gus Simbanegavi, who is also the CEO of the local operating subsidiary Kareevlei Mining. Simbanegavi, who took on the role in mid-2019, with an initial focus on increasing production levels at the mine, is spearheading the execution of the expansion plan.”
I am still holding BRD.GL.
That is a problem at the moment but circumstances could change. BRD has very few shares available and is very illiquid so it's not for day traders. On the other hand, should the Herd suddenly arrive the SP would rocket and provide a profitable exit but we could have a long wait. I'm invested because BRD looks very cheap to me and I wanted some exposure to diamonds but I'm starting to think I've backed the wrong horse! Bearing in mind impatience can be very expensive!
Spread still too wide too deal.gl.
This is the fourth fund raise for the expansion project. It suggests that, at the beginning, the BOD had no idea what was involved in the upgrade or what it would cost. We have to hope that the people they have hired do know what to do and can complete the project by July. If they can achieve the 1 million tonnes throughput they are looking for then this still looks like good value at the current sp, but if there are any further delays or fund raising then the balance will start to shift. Certainly with only a 51% interest in the mine after Teichmann exercise their CLN then any more share based funding will result in blue rock losing control of the company. I'm holding for now but keeping a very close eye on this.