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Five kimberlites have been discovered to date within the Loki project area, all of which were confirmed as diamond bearing
A selection of the week's mining stories in snapshot
The offering consisted of 2,980,000 units at a price of $0.08 per unit for gross proceeds of $238,400
Heavy rains resulted in 29 production days being lost
The property is located adjacent to a business park already present in Sirius' portfolio, creating opportunities for a wider development
The company has a long track record of operating in South Africa
BlueRock Diamonds has a track record of production at Kareevlei
"These diamonds were sold, along with our other production, through tender, the first one that we have participated in since the advent of COVID-19,” said executive chairman Mike Houston
The company has significant unrestricted cash and inventory, but a crippling debt burden
A huge undeveloped iron ore project in the Republic of Congo could be about to come to life
A new resource statement remains on track for release by the end of this month
The trenching results “match if not exceed our best expectations”, said chairman John Teeling
BlueRock already has a well-established track record of production at Kareevlei
BlueRock expects selling prices to improve into 2021
To put this into perspective, given the average engagement ring weight in the UK is 0.6 carats, a 12.6-carat diamond is considered exceptional"
Effective from market open on Tuesday, November 24, this year, the company's shares will commence trading on the TSX Venture Exchange under the new name
The price target was also doubled to 60p from 30p after the Letseng mine went back to full production and the company returned to a net cash position
The bridge loan will be available for Fura to draw down under a demand promissory note issued to Lord of Seven Hills Holdings FZE
BlueRock continues to find competitive prices in private sales
The gemstone group holds a 76% indirect equity interest in Coscuez S.A., the firm, which holds 100% of the licence
