REG - BlueRock DiamondsPLC - Diamond Sale Update

Bluerock DiamondsAnnouncement

05/04/2022 08:15

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RNS Number : 2966H  BlueRock Diamonds PLC  05 April 2022

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

5 April 2022

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

 

Diamond Sale Update

 

4 High Value Diamonds sold in March tender

 

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 larger gem quality stones were
sold in the March tender as follows:

.

 Carats  Value    Value per carat USD000

         USD000
 19.3    116      6
 12.7    128      10
 8.7     104      12
 6.6     63       9.5

 

 

Notably, the average tender price of the total parcel was over USD1,000 per
carat, which is significantly above the 2021 average of USD465 per carat and
follows on the back of the strong January and February 2022 tenders, which
recorded an average price of circa USD600 per carat.

 

Mike Houston, Executive Chairman said, "It is very pleasing to announce the
recovery of another four high value diamonds, which were sold in our latest
tender. The market is obviously being influenced by the current geopolitical
situation and this is partially reflected in our latest average tender price.
However, the overall supply side of rough diamonds has been tight for some
time and is very likely to remain so for the foreseeable future; we therefore
anticipate strong ongoing demand for the high quality Kareevlei parcel of
diamonds.

 

"Following our successful fundraising of last week, management are focused on
ramping up our new processing plant, which will see production almost double
to 36,000-43,000 carats. 2022 will be a transformational year and we look
forward to the road ahead amid positive market fundamentals."

 

Large stones recovered in 2022

 

 Date sold 2022    Carats  Value    Value per carat USD000

                           USD000
 March             19.3    116      6
                   12.7    128      10
                   8.7     104      12
                   6.6     63       9.5

 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.

 

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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