REG - BlueRock DiamondsPLC - Diamond Sale Update

Bluerock DiamondsAnnouncement

04/03/2022 07:00

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RNS Number : 6120D  BlueRock Diamonds PLC  04 March 2022

BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

4 March 2022

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

 

Diamond Sale Update

 

Sale Included 4 High Value Diamonds Lifting Tender Average to USD638 Per Carat

 

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 four gem quality stones were sold in
the February tender for a total USD460,000.  Notably, the average tender
price of the total parcel of USD638 per carat was significantly above the 2021
average of USD465 and follows on the back of the strong January 2022 tender,
which had an average price of USD565.

 

Mike Houston, Executive Chairman said, "As with the January tender, we are
seeing a very high demand for Kareevlei's diamonds, and I believe this is the
first time we have seen four diamonds selling for an average of over a
USD100,000 per stone in a single parcel.  The exceptional average price per
carat for the total parcel of USD638 marked a 37% jump compared to 2021 and is
reflective of the strong retail market conditions and a tightening rough
diamond supply of high-quality diamonds such as Kareevlei's. The current
geopolitical environment could create further shortages of rough diamonds."

 

Large stones recovered in 2022

 

 Date sold 2022    Carats  Value    Value per carat USD000

                           USD000
 February          11.9    211      17.6
                   8.3     96       8.3
                   13.6    78       5.8
                   7.5     75       10
 January           6.8     63       9.3
 Top 5 sales 2021
 August            58.6    585      10
 August            21.6    268      12.4
 August            14.3    236      16.5
 January           14.8    163      11
 March             8.4     89       10.6

Note: It is Company policy to announce all stones sold with a value of in
excess of USD50k.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

ENDS

 

 For further information, please www.bluerockdiamonds.co.uk or contact:

 

 Mike Houston                                    BlueRock Diamonds PLC                m.houston@bluerockdiamonds.co.uk

 David Facey, FD                                                                      dfacey@bluerockdiamonds.co.uk
 Stuart Gledhill                                 SP Angel                             Tel: +44 (0)20 3470 0470

 Caroline Rowe                                   NOMAD & Broker
 Isabel de Salis                                 St Brides Partners Ltd Financial PR  info@stbridespartners.co.uk

 Oonagh Reidy

 

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 with a combined inferred
resource of 10.4 million tonnes / 516,200 carats (February 2021); based on its
planned production of 1 million tonnes per annum, this provides a minimum
10-year life of mine.

 

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