18 Sep 2017 07:00
18 September 2017
BlueRock Diamonds PLC
("BlueRock" or the "Company" or "BRD")
Diamond Sales and Production Update
BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the
Kareevlei Diamond Mine in the Kimberley region of South Africa ("Kareevlei") announces an update on its September 2017 diamond sales tender and production.
In September 2017, a parcel of 544.57 carats was sold at tender, achieving an average of USD323 per carat. The diamonds produced and included in September's sales tender has resulted in a grade of 3.01 cpht showing an increase to Kareevlei's grade for August's tender production of 2.07 cpht. The average grade for total production in H2 is 2.41 cpht vs 1.59 cpht for the first half of 2017.
As noted previously, production has continued to improve with August's production reaching 20,929 tonnes vs July of 20,200 tonnes. The total tonnage for September is on target to exceed August's total as we near our target of 25,000 tonnes per month.
Adam Waugh, Chief Executive Officer of BlueRock Diamonds, commented: "I am pleased to say that volumes continue to increase and the proceeds of the September tender represents our biggest ever monthly sale. Prices per carat continue to exceed expectations and recovery grades continue to improve.
"We are now well on our way to achieving profitable mining and look forward to the expected further improvement to grades as we begin blasting second level kimberlite (sub 17 meters) in September ready for processing in October."
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.
For further information, please contact:
BlueRock Diamonds plc
Adam Waugh, CEO
awaugh@bluerockdiamonds.co.uk
SP Angel (NOMAD and Broker)
Stuart Gledhill / Lindsay Mair
+44 (0)20 3470 0470
Yellow Jersey PR (PR and IR)
Felicity Winkles / Joe Burgess / Katie Bairsto
+44 (0) 7769 325254
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the Kimberley region of South Africa. BlueRock own a diamond processing plant and the mining right over the Kareevlei Tenements in South Africa.