58.6 carat diamond discovered

RNS Number : 6748I

BlueRock Diamonds PLC

16 August 2021

 

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

16 August 2021

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

58.6 carat diamond discovered

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 the discovery of a 58.6 carat stone.

Mike Houston, Executive Chairman said, "I am delighted to inform shareholders that we have recovered a 58.6 carat stone a week after the recovery of a 21.6 carat stone.  We expect that the sales value of the 58.6 carat stone will be significant as it is a "D" colour makeable stone but has spotted black sulphide intrusions with the final value dependent upon the buyer's confidence of what cut stones can be recovered.  The diamond will be sold in the August tender.

"This is a very important discovery for BlueRock as it supports the "size frequency distribution charts" that indicate our pipes will deliver large high value diamonds along with the highly sought after "run of mine" parcel of diamonds which have secured values of over US$400 per carat in 2021.

"Following the end of month August tender, I look forward to informing the market what value is achieved for these two large stones"

Large stones recovered in 2021

Date sold 2021	Carats	Value USD000	Value per carat USD000
August (1)	58.6	TBA	TBA
August (1)	21.6	TBA	TBA
May	6.3	52	8.3
March	8.4	89	10.6
	10.7	73	6.8
	9.8	53	5.5
January	14.8	163	11.0

(1)  To be sold in the August tender

(2)  It is the 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 visit BRD's website  www.bluerockdiamonds.co.uk  or contact:

BlueRock Diamonds PLC Mike Houston David Facey, FD	[e-mail] [e-mail]
SP Angel (NOMAD and Broker) Stuart Gledhill / Caroline Rowe	Tel: [phone]
St Brides Partners Ltd (Financial PR) Isabel de Salis / Cosima Akerman	Tel: [phone]

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. 

 

END

 

 

MSCEAFPSFFNFEAA