Sale of 14.8 carat stone for USD167,000

RNS Number : 7295M

BlueRock Diamonds PLC

25 January 2021

 

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

25 January 2021

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

Sale of 14.8 carat stone for USD167,000

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei' or the 'Project') in the Kimberley region of South Africa, is pleased to announce, in accordance with its reporting policy, the sale of the 14.8 carat diamond, the recovery of which was announced on 21 December 2020, for USD167,000 (USD11,300 per carat).  The 8.7 carat diamond announced at the same time was sold for USD37,000 (USD4,300 per carat).

BlueRock Executive Chairman, Mike Houston, said,  "These diamonds were sold, along with our other production, through tender, the first one that we have participated in since the advent of COVID-19.  The general results of the tender were very positive and support the recent industry news suggesting that diamond prices are recovering well.

"This is the third large stone recovered in Q4 2020 with an individual value of greater than USD50,000, which I hope marks a return to normality now that we have developed the Main Pit."

Top 5 Kareevlei diamonds by value

Date Recovered	Carats	Sales Value USD
October 2019	20.7	236,000
February 2019	24.9	190,000
December 2020	14.8	167,000
July 2019	12.2	105,000
September 2020*	12.1	104,000

* based on valuation as sold as part of a parcel.

Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

ENDS

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. As at December 2020, provisional figures based on mined tonnes and carats and not a volumetric depletion estimated that the remaining Inferred Mineral Resource from four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential inground number of carats of 513,500.

 

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