Q2 Production Update & Shareholder Call

RNS Number : 6875E

BlueRock Diamonds PLC

09 July 2021

 

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

9 July 2021

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

Q2 Production Update

& Shareholder Call

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 its Q2 2021 production update.

OVERVIEW

	Q2 2021	Q2 2020	Q2 2021 vs Q2 2020
Tonnes Processed ('000)	134,510	90,830	+48%
Grade cpht	4.05	2.76	+47%
Carats produced	5,442	2,510	+117%
Carats sold	5,106	2,413	+112%
Avg. price per carat (USD)	427.8	289.9	+48%

BlueRock Executive Chairman, Mike Houston, said, "It is difficult to compare production and sales numbers versus 2020 where Covid-19 impacted materially on the operations and the market. However, the Q2 figures are very pleasing with the tonnes processed a record and achieved whilst the operation is transitioning to the new plant.  Furthermore, the grade has been consistent and the average size and quality of diamonds excellent as reflected in the sales price achieved.

"We continue to develop the main pit in preparation for the projected higher tonnages in the second half of the year once we have commissioned the new plant, which will enable us to hit our run rate production target of 1Mtpa and annual revenue of circa USD16m assuming a grade of 4 cpht and an average sale price of USD400 per carat.  

"The market has remained firm throughout the quarter with a strong buyer presence at the local tenders and a robust demand for the Kareevlei product. The overall market outlook is positive with a tightness on the rough diamond supply side and a growing retail sector as global economies continue to open up.

"The Covid situation in South Africa has deteriorated recently but with established mine protocols in place it has not to date impacted on the operations or the planned completion of the expansion project; management continue to monitor the situation closely.  I look forward to updating shareholders during what remains a challenging but exciting period for the Company."

High Value Diamond Sales

Month of Sale	Carat Size	USD Price	USD Price per Carat
January 2021	14.8	162,894	11,038
March 2021	8.4	88,888	10,566
	10.7	72,800	6,816
	9.8	53,300	5,450
May 2021	6.3	52,318	8,256

Note: BlueRock's policy is to state all single diamonds sold above USD50k.

Shareholder Conference Call

BlueRock is also pleased to announce that Mike Houston Chairman and David Facey CFO will provide a live Investor Presentation via the Investor Meet Company platform on 15 July 2021 at 11:00am BST.  The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet BlueRock via:

https://www.investormeetcompany.com/bluerock-diamonds-plc/register-investor

Investors who already follow BlueRock on the Investor Meet Company platform will automatically be invited.

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

 

 

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