Brief: Bluerock Diamonds Plc Says BRPs Have Suspended Non-Essential Activities At Kareevlei Diamond Mine

Bluerock Diamonds

11/04/2023 09:35

April 11 (Reuters) - Bluerock Diamonds PLC  BRD.L :
    * BLUEROCK DIAMONDSPLC  - CORPORATE UPDATE
    * BLUEROCK DIAMONDS:  IN ABSENCE OF ANY DISTRIBUTION FROM
KAREEVLEI OR NEW CAPITAL  RAISED IT IS UNLIKELY THAT CO CAN BE
CONSIDERED TO BE  GOING CONCERN
    * BLUEROCK DIAMONDS PLC -  BRPS HAVE SUSPENDED NON-ESSENTIAL
ACTIVITIES AT KAREEVLEI DIAMOND MINE
    * BLUEROCK DIAMONDS - EXPLORED POSSIBILITY TO RAISE
SUFFICIENT
FURTHER FINANCE TO FUND KAREEVLEI, CONCLUDED UNLIKELY TO BE ABLE
TO DO SO CURRENTLY
    * BLUEROCK DIAMONDS PLC - COMPANY HAS NOTIFIED BRPS THAT IT
IS
UNABLE TO CONTRIBUTE ANY FURTHER FUNDING TO KAREEVLEI
    * BLUEROCK DIAMONDS - APPROACHED LOAN NOTE HOLDERS TO
ASCERTAIN
RESPONSE TO POSSIBLE RESTRUCTURING OF CAPITAL STRUCTURE OF CO &
NOT RECEIVED REPLY TO DATE
    * BLUEROCK DIAMONDS - MINING OPERATIONS STOPPED IMMEDIATELY
AFTER
BUSINESS RESCUE PROCEEDINGS COMMENCED,PRODUCTION HAS BEEN FROM
MATERIAL ON ROM STOCKPILE

Source text for Eikon:  urn:newsml:reuters.com:*:nRSK7936Va
Further company coverage:  BRD.L 

 (Reporting by Shreyaa Narayanan)
 ((Shreyaa.Narayanan@thomsonreuters.com;))