BlueRock Diamonds PLC Sale of 3,805 Carat Diamond Parcel (7365X)
September 02 2020 - 2:02AM
UK Regulatory
TIDMBRD
RNS Number : 7365X
BlueRock Diamonds PLC
02 September 2020
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
2 September 2020
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Sale of 3,805 carat diamond parcel
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 the sale of 3,805 carats at an average price of USD330 per
carat for an aggregate consideration of USD1,255,000.
BlueRock Executive Chairman, Mike Houston, said, "Our diamonds
remain attractive to buyers even in what continues to be an
uncertain market. Similar to the sale announced in June 2020, this
was a private sale conducted through a sales agent in South Africa.
We are pleased with the price achieved which is above our internal
budget and a 14% increase over the price achieved in June 2020.
"We continue to finalise the necessary export requirements which
have proven to be a lengthy process in the current COVID-19
environment. As soon as this is completed, we will commence exports
which gives us the flexibility of bridge financing our inventory,
if required. Until then we have the option of selling our diamonds
locally at a price which allows us to operate profitably."
Diamond announcement policy
Prior to the COVID-19 pandemic, the Company's policy had been to
announce the value of individual diamonds with a value of above
USD50,000 on sale. The two recent sales have been sold as a total
package and the value of individual diamonds has not been
separately identified (for example this recent sale included the
12.12 carat stone recovered in July 2020); this is a position that
might continue. Accordingly, the Company is modifying its
announcement policy such that for the foreseeable future BlueRock
will announce all individual diamonds valued at above USD50,000
when formally valued.
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 mhouston@bluerockdiamonds.co.uk
Mike Houston dfacey@bluerockdiamonds.co.uk
David Facey, FD
SP Angel (NOMAD and Broker) Tel: +44 (0)20 3470 0470
Stuart Gledhill / Caroline Rowe
---------------------------------
St Brides Partners Ltd (Financial Tel: +44 (0)20 7236 1177
PR)
Susie Geliher / Cosima Akerman
---------------------------------
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 November 2018, it was
estimated that the remaining Inferred Mineral Resource from the
four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a
potential inground number of carats of 367,000.
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END
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