Diamond Sale Update

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 USD000	Value per carat 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  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 / Charlotte Page	[e-mail]

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

 

 

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