IN BRIEF: BlueRock Diamonds adopts rescue plan for Kareevlei mine

Wed, 24th May 2023 17:07

BlueRock Diamonds PLC - South Africa-focused diamond producer - Notes adoption of business rescue plan for Kareevlei diamond mine, which it received last week Tuesday. The plan indicates a proposal led by Teichmann Group for the acquisition of Kareevlei through the assets or its shares and loan account owned by BlueRock Diamonds. The board notes that this proposal is significantly less than the amount outstanding to all the creditors of BlueRock of approximately GBP2.7 million.

Current stock price: 2.49 pence

12-months: down from 2,800p on May 25, 2022

By Will Neill, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Related Shares

More News

31 Jul 2023 07:58

IN BRIEF: BlueRock Diamonds to exit administration via dissolution

BlueRock Diamonds PLC - South Africa-focused diamond miner - SP Angel Corporate Finance LLP steps down as nominated advisor. BlueRock's shares were su...

26 Jun 2023 17:33

TRADING UPDATES: New patents for Sareum; Guanajuato hails assessment

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News:

6 Jun 2023 19:37

TRADING UPDATES: Woodbois strikes repayment deal with Sydbank

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

11 Apr 2023 18:00

BlueRock Diamonds future uncertain with Kareevlei in business rescue

(Alliance News) - BlueRock Diamonds PLC on Tuesday provided an update regarding its principal operating subsidiary, Kareevlei Mining Pty Ltd, being pl...