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Strong March quarter for BlueRock

Tonnage, sales, grade and prices higher than in 2018

Staff reporter

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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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