PROFIT & LOSS

BlueRock misses 2018 throughput goal

But South African miner hits overall guidance thanks to higher grade

Staff reporter

This article is 7 years old. Images might not display.

The miner cut its 2018 mining guidance in October from 220,000 tonnes at 3.5 carats per 100t to 200,000t at 3ct/100t. 

 

The Kareevlei throughput number fell below the updated estimate, at 189,990t for the year to December 31, but the final quarter's grade of 4.01ct/100t kicked its production into the black. 

Throughput was inconsistent in 2018, peaking at 63,621t in the September quarter, up from 34,247t in the June quarter, when crushing issues caused a 10-day processing halt. 

The total production for 2018 was 6,198ct, with 5,805ct sold in the period. 

This represented a 71% increase in sales compared to 2017. 

BlueRock CEO Adam Waugh said the December quarter's performance was a sign of things to come. 

"The results from our second kimberlite pipe, KV1, which came on stream in June last year, and from the undiluted levels of our first kimberlite pipe, KV2, have shown a marked increase in grade, which we expect to continue into 2019," he said. 

"Our move to 365-day operations is expected to start in February and is expected to give us around 40% additional plant availability." 

BlueRock sold 1,533ct in the December quarter at an average price of US$316/ct, down from the highs of $341/ct in the September quarter and $378/ct in the March quarter. 

The miner's share price has been on a steady decline for over two years, with a recent uptick back over 0.3p (US0.38c) still leaving shareholders with a 86% loss from 12 months ago. 

 

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.