15 Mar 2019 09:00
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
15 March 2019
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Move to Continuous Operations
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"), is pleased to announce that it has received the necessary permissions to allow it to move to 365-day operations.
The Company is now finalising its preparations for the move to continuous operations. Although this is slightly later than had been anticipated, it has not had any material impact upon published guidance for production volume in Q1 2019 of between 35,000 tonnes to 45,000 tonnes. The production volume for the first quarter is expected to be nearer the upper end of this range.
A further update on full year production guidance for 2019 will be released in due course.
Adam Waugh, CEO, commented, "The move to 365-day operations is a significant step in our drive to increase production volumes and move towards profitability. We look forward to updating the market as further progress is made."
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 Broker) Stuart Gledhill / Caroline Rowe |
Tel: +44 (0)20 3470 0470 |
SVS Securities plc (Joint Broker) Tom Curran |
Tel: +44 (0)20 3700 0100 |
Turner Pope Investments (Joint Broker) Lewis Jones/Andy Thacker |
Tel: +44 (0) 20 3621 4120 |
St Brides Partners Ltd (Financial PR) Melissa Hancock / Juliet Earl |
Tel: +44 (0)20 7236 1177 |
Notes to editors:
BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. As at November 2018, it was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 367,000.