REG - BlueRock DiamondsPLC - Diamond Sale Update

Bluerock DiamondsAnnouncement

31/08/2022 10:30

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RNS Number : 7633X  BlueRock Diamonds PLC  31 August 2022

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

31 August 2022

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

 

Diamond Sale Update

 

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and
operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of
South Africa, announces that it has sold six stones, each valued at over
USD50k in its August 2022 sale.

 

Mike Houston, Executive Chairman said, "We are pleased with the results of the
August tender, in which we sold a record six high-value stones, bringing the
average 2022 price of the tender to USD594 per carat (2021 average: USD465ct).
The market appears to have stabilised price wise, but with the ongoing
pressure on the rough diamond supply side due to lower global production and
sanctions on Russia, we anticipate the demand for Kareevlei's high quality
parcel of diamonds to remain firm."

 

Table 1: Large stones recovered in 2022

 Date sold 2022  Carats  Value    Value per carat

                         USD000   USD000
 August          11.62   84       7.2
                 10.02   81       8.1
                 9.04    76       8.4
                 6.77    52       7.6
                 6.88    52       7.5
                 10.35   50       4.8
 July            5.97    55       9
                 7.4     67       9
 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

Note: It is Company policy to announce all stones sold with a value 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 visit BlueRock's
website www.bluerockdiamonds.co.uk (http://www.bluerockdiamonds.co.uk/)  or
contact:

 

 BlueRock Diamonds PLC

 Mike Houston                           mhouston@bluerockdiamonds.co.uk

 David Facey, FD                        d.facey@bluerockdiamonds.co.uk
 SP Angel (NOMAD and Broker)

 Stuart Gledhill / Caroline Rowe        Tel: +44 (0)20 3470 0470
 St Brides Partners Ltd (Financial PR)

 Isabel de Salis / Charlotte Page       bluerock@stbridespartners.co.uk

 

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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