BlueRock Diamonds begins kimberlite processing from KV1 Pipe at Kareevlei mine
The KV1 pipe has an inferred mineral resource grade of 6.3 carats per hundred tonnes (cpht), 40% higher than the KV2 pipe where processing commenced in 2014
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The KV1 pipe has an inferred mineral resource grade of 6.3 carats per hundred tonnes (cpht), 40% higher than the KV2 pipe where processing commenced in 2014
The cash will be put into escrow as a full provision for a claim by former boss Riaan Visser against subsidiary Kareevlei
A sum of £230,000 will be put into escrow as a full provision for the claim
The diamond miner reported that it had recovered 10 diamonds greater than 100 carats over the period, including the Lesotho Legend, a high-quality 910 carat diamond
The diamond, a top white colour Type IIa, is the eleventh diamond over 100 carat diamond to be recovered at the mine so far this year
Petra Diamonds shares are at an eight-year low after debt levels rose alarmingly and a rights issue was required
In a production update, the AIM-listed diamond miner said production in the first half of the year was up 81% year-on-year at 73,028 tonnes
The bank said a US$178mln cash injection from a rights issue in May meant the diamond miner's balance sheet no longer “carries the high cost S.A. debt”
The miner met its two primary targets in 2017 – operational profitability and monthly processing volume of 25,000 tonnes
The AIM-listed gemstones producer and developer said for the year ended 31 December 2017 its revenue was US$1.9mln, up from US$1.4mln
The AIM-listed diamond miner said it had agreed rental terms on a replacement crusher and has an option on a long-term hire
The AIM-listed diamond mining company said when fixed, the cone crusher will allow for improved capacity as BlueRock enters its next phase of development
The new pipe is close to the existing K2 operation
The FTSE small cap group said the 115 carat, top white colour Type IIa diamond is the ninth stone of over 100 carats recovered in 2018
The small cap firm sold 1,373,771 carats of diamonds in the third quarter, compared to 1,069,886 sold at the same stage a year earlier
The AIM-listed diamond miner said grades from its Kareevlei diamond mine were 3.8 carats per hundred tonnes (cpht) for the first quarter, up from 1.92 cpht for the same period last year
The strategic review aims to assess how the company can best leverage its position as the owner of one of the world's largest sapphire mines.
The AIM-listed diamond miner said the larger part of the placing proceeds will be used to develop and expand mining activities at its Kareevlei Diamond Mine in South Africa
The company's revenues grew as the number of diamonds it sold rose by 14% to 107,152 carats
Existing Stellar shareholders will own 8.14% of the group following the merger and financing