24 Aug 2018 07:00
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
24 August 2018
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Crushing Circuit Reaches Target Production Levels
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, is pleased to announce that its crushing circuit is now processing at or above the Company's target production level of around 80 tonnes an hour following the installation of a second cone crusher and the implementation of optimisation initiatives.
As previously announced, in June 2018 a fault was discovered in the Company's cone crusher which led to processing being stopped for around 10 days. Whilst the fault was being rectified, a rented crusher was installed on site at Kareevlei at modest additional cost. BlueRock's original cone crusher is now refurbished and operating in tandem with the rented crusher thus increasing the throughput capacity in the secondary crushing process. The crushing circuit now has the capacity to operate at more than 80 tonnes per hour which will enable us to produce stockpiled material to alleviate the production challenges in the rainy period from January to April. The Company looks forward to providing an update on the third quarter's production in early October 2018.
Adam Waugh, CEO, commented, "I am delighted that we have resolved our issues with the crushing circuit and we now look forward to a continuous period of production at or above our target levels. With two cone crushers now on site at Kareevlei and stockpiles expected to build up for processing during the rainy season we are in good shape for the remainder of Q3 and Q4 particularly as we prepare to process Kimberlite from our higher grade KV1 pipe, the second of five pipes within the project area. With this in mind we look forward to the rest of the year with optimism."
Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC Adam Waugh, CEO David Facey, FD |
awaugh@bluerockdiamonds.co.uk dfacey@bluerockdiamonds.co.uk |
SP Angel (NOMAD and Joint Broker) Stuart Gledhill / Lindsay Mair/Caroline Rowe |
Tel: +44 (0)20 3470 0470 |
SVS Securities (Joint Broker) Tom Curran / Ben Tadd |
Tel: +44 (0) 20 3700 0100 |
St Brides Partners Ltd (Financial PR) Lottie Wadham / Juliet Earl |
Tel: +44 (0)20 7236 1177 |