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BlueRock Diamonds floats on AIM with plans to resurrect De Beers mine

Wed, 04th Sep 2013 09:25

South African mining junior BlueRock Diamonds has begun its first day of dealing on AIM and put in place plans to bring an old De Beers mine back to life.The company raised a gross £1.31m from the issue of new shares in order to buy the mining rights to the Kareevlei Tenements, not far from noted mining town Kimberley in the Northern Cape Province.The Kareevlei Tenements include the Kareevlei Kimberlites, five diamondiferous kimberlite pipes ranging in size from less than 0.5 hectares to 5.6 hectares.De Beers discovered the Kareevlei Kimberlites in 1991 and subsequent owners, including AfriOre and Tawana Resources, have conducted investegative drilling of the site to provide sufficient data to estimate grade and have been used by BlueRock to arrive at an Inferred Mineral Resource of 359,000 carats.Purchasing the rights to mine the kimberlites and mining equipment will cost over a quarter of the company's new funds, with remaining cash to fund plant upgrades and refurbishment and mine set-up costs, with the development focusing initially on pipe 'K1', the highest grade pipe.The board of directors, which is headed by chairman Paul Beck, said they plan to employ contractors in the three-month process to remove the calcrete overburden in order to expose the kimberlite beneath for processing, with open cast mining activities expected to commence in the fourth month following AIM admission. The board said they planned to assess diamond recovery on a continuous basis against the estimated grades and revenues.Once K1 is operational and "if sufficient cash resources are generated", BlueRock said it could begin exploration work on pipes K2, K3 and K5.Shares in BlueRock Diamonds opened at 10p and remained there by 09:15 on Wednesday, their first day of trading. OH
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20 Sep 2018 13:33

BlueRock Diamonds Widen Interim Loss On Foreign Exchange Price Rises

LONDON (Alliance News) - BlueRock Diamonds PLC on Thursday reported a widened loss in the first half despite multiplying its revenue.In the six months ended June, BlueRock posted a pretax a

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24 Aug 2018 13:39

BlueRock Diamonds pleased with crushing circuit performance

(Sharecast News) - Diamond producer BlueRock Diamonds announced on Friday that its crushing circuit was now processing at or above its target production level of around 80 tonnes an hour, following the installation of a second cone crusher and the implementation of optimisation initiatives.

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17 Aug 2018 12:40

BlueRock Further Details Security Loan From Chairman And CEO

LONDON (Alliance News) - Mining company BlueRock Diamonds PLC on Friday released further details of the loan which forms part of a negotiation between BlueRock and its former chief of terms were a

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10 Aug 2018 12:15

BlueRock Diamonds reaches agreement with former chief executive

(Sharecast News) - BlueRock Diamonds said it had reached an agreement that will see former chief executive Riaan Visser's claim against one of the firm's subsidiaries be struck from the court roll.

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10 Aug 2018 11:12

Former BlueRock Diamonds CEO Agrees To Halt Subsidiary Liquidation

LONDON (Alliance News) - South-Africa focused mining company BlueRock Diamonds PLC on Friday said its former chief executive officer has agreed to halt liquidation proceedings for Kareevlei Mining

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7 Aug 2018 11:33

BlueRock Diamonds Says Former CEO To File To Liquidate Subsidiary

LONDON (Alliance News) - BlueRock Diamonds PLC said Tuesday its former chief executive officer will apply this Friday to place one of its company's operating subsidiaries in provisional in the

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29 Jun 2018 15:17

BlueRock Diamonds Annual Loss Widens Despite Production Boost

LONDON (Alliance News) - Diamond producer BlueRock Diamonds PLC said Friday it saw a widened annual loss despite reaching its two primary production objectives.Shares in BlueRock were up at

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31 May 2018 10:56

BlueRock Diamonds Nets GBP350,000 After Placing Shares To Fund Works (ALLISS)

LONDON (Alliance News) - BlueRock Diamonds PLC on Thursday said it has raised GBP350,000 in a discounted share placing to fund work at its KV01 operations in South Africa.The company placed

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31 May 2018 10:54

WINNERS & LOSERS SUMMARY: FirstGroup Swings To Loss, CEO Departs

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 4.7%. The Irish building materials company

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19 Mar 2018 17:33

BlueRock Diamonds Raises GBP500,000 Via Share Placing, Subscription (ALLISS)

LONDON (Alliance News) - BlueRock Diamonds PLC on Monday said it has raised approximately GBP500,000 through the issue of 33.3 million shares at a price of per

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14 Feb 2017 10:50

BlueRock Diamonds' shares up after Kareevlei operations update

(ShareCast News) - Shares in BlueRock Diamonds are up more than 5% thanks to a well-received update on operations at Kareevlei, its licence area in the Northern Cape of South Africa. The licence area contained five known kimberlite pipes. "The first blast of the current series was completed success

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6 Feb 2017 15:48

BlueRock Diamonds works through 'frustrating' delay

(ShareCast News) - BlueRock Diamonds updated the market on operations at Kareevlei, its licence area in the Northern Cape of South Africa containing five known kimberlite pipes, on Monday. The AIM-traded firm said significant recent rainfall caused some delays to the recommencement of operations, bu

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6 Feb 2017 11:21

BlueRock Diamonds Says Kareevlei Restart Hampered Further By Rainfall

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9 Dec 2016 14:26

BlueRock Diamonds enters agreement with John Kilham

(ShareCast News) - BlueRock Diamonds announced on Friday that, following the resignation of John Kilham on 19 October, the company announces that it has entered into an acquisition and settlement agreement with Kilham in order to resolve outstanding matters. The AIM-traded firm said that, under the

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2 Nov 2016 11:07

BlueRock Diamonds raises £750,000 to invest in South Africa mine

(ShareCast News) - Explorer BlueRock Diamonds has raised £750,000 from an equity placing on AIM and a loan note extension in order to invest in its Kareevlei mine in South Africa. About 16.8m shares were issued of 1p each sold at 4p raised £675,000 and an extension to a convertible loan note raised

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