Crasy undervalued2 Jul 2018 11:10
Achieved two primary goals: operational profitability and monthly processing volume of 25,000 tonnes
· Production increased 171% to circa 153,000 tonnes in 2017 (2016: 56,439 tonnes) from KV2 kimberlite pipe, which has an inferred grade of 4.5 carats per hundred tonnes ('cpht')
· Exceptional quality diamonds - average value per carat for 2017 was US$362, ranking BlueRock in the top 10 in the world and second in South Africa in terms of value per carat
· Improving grades, largely as a result of beginning to mine below the calcretised kimberlite
· Targeting increased and more consistent production volumes following optimisation of the processing plant, particularly the efficiency of the crushing circuit
· Commenced mining at second kimberlite pipe, KV1, which has an inferred grade of 6.3cpht - anticipated to provide material contribution in FY2018
· Defined development plan focused on increasing both production and the average grade of diamonds extracted - Inferred Mineral Resource, totalling 7,984,000 tonnes or 359,000 carats, has a potential inground value of circa US$130 million - current Mkt Cap £2.42 million