Rns2 Apr 2019 08:11
Q1 2019 Production Update - RNS - London Stock Exchange
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
2019 Q1 production update
Q1 tonnage at higher end of expectations
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, announces its Q1 2019 production update.
Overview
· Q1 tonnage 42,409 tonnes up 12% on Q1 2018 (38,781 tonnes)
· 1,847 carats sold in Q1 up 18% on Q1 2018 (1,563 carats)
· Average grade 3.41 cpht, 4% above the average for 2018
· Average price per carat USD 371, 10% above the average for 2018
· Two large stones recovered and sold: an 8.97 carat diamond for $74,513 and a 16.28 carat diamond for $78,947
Adam Waugh, CEO commented, "I am pleased that the volumes for Q1 are at the higher end of our expectations despite the temporary suspension for 8 days in February. The average price per carat remains high reflecting the high quality of our diamonds.
We commenced 7 days a week operations on the 26 March 2019, the results of which are beginning to come through assisted by significant strengthening of our mining team in Kimberley. We have further work to do in improving our operations and look forward to updating the market on our plans and production guidance for the full year in due course."
Key Performance Indicators
Quarter
Volume tonnes(1)
Carats(2)
Cpht
US$/carat
Q1 2017
9,310
92
1.92
161
Q2 2017
31,033
451
1.66
352
Q3 2017
63,163
1,275
2.26
344
Q4 2017
49,641
1,567
3.16
391
FY 2017
153,147
3,385
2.45
362
Q1 2018
38,781
1,563
3.80
378
Q2 2018
34,247
875
2.45
305
Q3 2018
63,621
1,834
3.13
341
Q4 2018
53,341
1,533
4.01
316
FY 2018
189,990
5,805
3.28
332
Q1 2019
42,409
1,847
3.41
371
Notes
1) Based on calendar quarters.
2) Based on the period between