BlueRock Diamonds PLC Q1 2019 Production Update (7618U)
April 02 2019 - 2:01AM
UK Regulatory
TIDMBRD
RNS Number : 7618U
BlueRock Diamonds PLC
02 April 2019
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
2019 Q1 production update
Q1 tonnage at higher end of expectations
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 its Q1 2019 production
update.
Overview
-- Q1 tonnage 42,409 tonnes up 12% on Q1 2018 (38,781 tonnes)
-- 1,847 carats sold in Q1 up 18% on Q1 2018 (1,563 carats)
-- Average grade 3.41 cpht, 4% above the average for 2018
-- Average price per carat USD 371, 10% above the average for 2018
-- Two large stones recovered and sold: an 8.97 carat diamond
for $74,513 and a 16.28 carat diamond for $78,947
Adam Waugh, CEO commented, "I am pleased that the volumes for Q1
are at the higher end of our expectations despite the temporary
suspension for 8 days in February. The average price per carat
remains high reflecting the high quality of our diamonds.
We commenced 7 days a week operations on the 26 March 2019, the
results of which are beginning to come through assisted by
significant strengthening of our mining team in Kimberley. We have
further work to do in improving our operations and look forward to
updating the market on our plans and production guidance for the
full year in due course."
Key Performance Indicators
Quarter Volume
tonnes(1) Carats(2) Cpht US$/carat
Q1 2017 9,310 92 1.92 161
Q2 2017 31,033 451 1.66 352
Q3 2017 63,163 1,275 2.26 344
Q4 2017 49,641 1,567 3.16 391
FY 2017 153,147 3,385 2.45 362
Q1 2018 38,781 1,563 3.80 378
Q2 2018 34,247 875 2.45 305
Q3 2018 63,621 1,834 3.13 341
Q4 2018 53,341 1,533 4.01 316
FY 2018 189,990 5,805 3.28 332
Q1 2019 42,409 1,847 3.41 371
Notes
1) Based on calendar quarters.
2) Based on the period between tenders.
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**
For further information, please visit BRD's website
www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC awaugh@bluerockdiamonds.co.uk
Adam Waugh, CEO 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)
Melissa Hancock / Juliet Earl
--------------------------------
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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