OTHER

Strong March quarter for BlueRock

BlueRock Diamonds (AIM:BRD) had a strong March quarter at its Kareevlei diamond mine in South Africa's Kimberley region, with volumes and grades climbing year-on-year.

Staff reporter
BlueRock's Kareevlei mine has been operating at the higher end of expectations

BlueRock's Kareevlei mine has been operating at the higher end of expectations

Tonnage for the quarter rose 12% from the March 2018 quarter to 42,409 tonnes, with 1,847 carats sold, up 18% on the year.
 
CEO Adam Waugh said the volumes had reached the higher end of expectations, despite an eight-day suspension in February. 
 
The average grade achieved was 3.41 carats per hundred tonnes, 4% higher than the 2018 average, which Waugh said reflected the high quality of Kareevlei's diamonds.
 
BlueRock also achieved a higher average price of US$371 per carat, a 10% increase on 2018's average.
 
Two large stones were recovered during the three-month period; an 8.7ct diamond sold for $74,513 and a 16.28ct diamond sold for $78,947. 
 
The company started seven days a week operation on March 26, which Waugh said was starting to show results. 
 
"We have further work to do in improving our operations," he said.
 
BlueRock's shares rose 5.53% Tuesday to 0.25p (US0.33c) per share, but two thirds lower than the 0.75p/share seen six months ago. 

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