Diamond Sale Update

RNS Number : 6120D
BlueRock Diamonds PLC
04 March 2022
 

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

4 March 2022

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

 

Diamond Sale Update

 

Sale Included 4 High Value Diamonds Lifting Tender Average to USD638 Per Carat

 

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 that four gem quality stones were sold in the February tender for a total USD460,000.  Notably, the average tender price of the total parcel of USD638 per carat was significantly above the 2021 average of USD465 and follows on the back of the strong January 2022 tender, which had an average price of USD565.

 

Mike Houston, Executive Chairman said, "As with the January tender, we are seeing a very high demand for Kareevlei's diamonds, and I believe this is the first time we have seen four diamonds selling for an average of over a USD100,000 per stone in a single parcel.  The exceptional average price per carat for the total parcel of USD638 marked a 37% jump compared to 2021 and is reflective of the strong retail market conditions and a tightening rough diamond supply of high-quality diamonds such as Kareevlei's. The current geopolitical environment could create further shortages of rough diamonds."

 

Large stones recovered in 2022

 

Date sold 2022

Carats

Value

USD000

Value per carat USD000

February

11.9

211

17.6


8.3

96

8.3


13.6

78

5.8


7.5

75

10

January

6.8

63

9.3

Top 5 sales 2021




August

58.6

585

10

August

21.6

268

12.4

August

14.3

236

16.5

January

14.8

163

11

March

8.4

89

10.6

Note: It is Company policy to announce all stones sold with a value of in excess of USD50k.

 

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 www.bluerockdiamonds.co.uk or contact:

 

Mike Houston

David Facey, FD 

BlueRock Diamonds PLC

 

m.houston@bluerockdiamonds.co.uk

dfacey@bluerockdiamonds.co.uk

Stuart Gledhill

Caroline Rowe

SP Angel

NOMAD & Broker

Tel: +44 (0)20 3470 0470

Isabel de Salis 

Oonagh Reidy

 

St Brides Partners Ltd Financial PR

 

info@stbridespartners.co.uk

 

 

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.

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDJJMLTMTAMBMT
UK 100

Latest directors dealings