TIDMBRD

RNS Number : 7455O

BlueRock Diamonds PLC

03 June 2020

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

3 June 2020

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

Operations Update

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei' or the 'Project') in the Kimberley region of South Africa, is pleased to announce an update on operations at Kareevlei following the commencement of production after the lockdown period due to Covid-19.

Overview

   --    No cases of COVID-19 reported at Kareevlei 
   --    Production averaging almost 2,000 tons a day since 11 May 2020 to bring total to 41,500 tons

o This is 65% higher than the average daily production in the prior record quarter of Q4 2019, which saw total production of 110,000 tons

   --    Amalgamation of KV1 and KV2 almost complete 
   --    Circa 2,400 carats diamonds in stock at 31 May 2020

BlueRock Executive Chairman, Mike Houston, said, " The health and safety of our employees remains of paramount importance to us and as such we continue to take great care with regards to carrying out the new safety precautions at Kareevlei. In line with this, I am pleased to report that there have been no cases of coronavirus at the mine.

"The team at BlueRock is delighted with production of 41,500 tons in the 21 day period following the start up on 11 May 2020 at an average of almost 2,000 tonnes a day. The modifications made to the primary crushing circuit and the introduction of the third pan together with the processing of softer near surface material have allowed us to increase production at minimal cost whilst also reducing operating costs.

"The amalgamation of KV1 and KV2, which will provide considerable flexibility to our mining operation, is progressing well and is expected to be fully operational in Q3 2020. Whilst the amalgamation is ongoing, we are necessarily processing a higher percentage of lower grade near surface material and as a consequence the average grade for the diamonds currently in stock is 3.14 cpht. We expect to be mining in higher grade areas towards the end of June and we are confident that grades will return to 2019 levels of in excess of 4 cpht.

"I would like to thank shareholders and stakeholders for their continued support, and I look forward to providing further updates."

Click on, or paste the following link into your web browser, to view the associated PDF document with pictures included:

http://www.rns-pdf.londonstockexchange.com/rns/7455O_1-2020-6-2.pdf

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

 
 BlueRock Diamonds PLC                mhouston@bluerockdiamonds.co.uk 
  Mike Houston                         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) 
  Susie Geliher / Cosima Akerman 
                                    ---------------------------------

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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June 03, 2020 02:00 ET (06:00 GMT)

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