Trading Update

RNS Number : 1203Y

BlueRock Diamonds PLC

01 March 2017

 

BlueRock Diamonds plc

("BlueRock" or "the Company")

 1 March 2017

Further to the Company's announcement of 14th February 2017, BlueRock is pleased to announce that its primary crushing and screening circuit has been commissioned and that the plant upgrade is now complete.  

The Company has been able to operate full processing for a longest continuous period of seven hours, with the plant demonstrating hourly capacity in line with expectations. Processing continues, but the move to extended continuous processing and then to 24 hour processing has been hampered by the continued unusually high rainfall being experienced in the Northern Cape with rainfall in January and February alone representing almost double the full year average experienced over recent years.

Delays experienced in the planned transition to 24 hour processing will have the effect of delaying revenue and cash flows from the production and sale of diamonds.

Further updates will be provided as appropriate.

Adam Waugh, CEO commented "I am pleased to report that the upgrade to the plant is now complete although the continued wet weather remains a source of frustration.  The next step is to move to 24 hour production and I look forward to updating the market shortly in this regard."

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.

Enquiries:
BlueRock Diamonds plc Adam Waugh, CEO [e-mail]			SP Angel Corporate Finance LLP Nominated Adviser & Broker Stuart Gledhill / Lindsay Mair [phone]

About BlueRock Diamonds plc (AIM: BRD)

BlueRock is a diamond mining company with activities in the Kimberley region of South Africa. BlueRock owns a diamond processing plant and the mining right over the Kareevlei Tenements in South Africa.

 

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