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BlueRock Diamonds* (AIM:BRD) – 59.5p, Mkt cap £2.6m – Robust restart to operations at Kareevlei BlueRock Diamonds reports that, following the resumption of mining at its Kareevlei diamond mine in South Africa after the Covid19 induced lock-
BlueRock's Karevleei mine is well established as a producer of high quality stones
There was a healthy stream of news from small cap mining companies this week
Mining operations restarted across South Africa in May and the group is ramping up operations again
The company said it will look at options to advance the project after lockdown is lifted in South Africa
The second and final tranche raised $7.2 million through the issuance of 28.6 million shares priced at C$0.25 each
Modern Water 2.16p £10.8m (AIM:MWG) Following the collaboration agreement with Ion Exchange , an order for stage one of a two stage project with a total value of c. £900,000 project has been received. The estimated net value to Modern Water
Part of the strategy involves selling its diamonds through Antwerp, the international centre for the trade
The company said it expects to be operating at full-tilt by the end of May 2020
The Toronto-based company’s subsidiary paid GemRock an aggregate price of US$2.1 million for the Mozambique licenses
The miner said there have been no cases of coronavirus in Lesotho or in any of its international operations
The company offered 8.3 million shares at a price of $0.03 per share
Petra’s balance sheet and cash are “likely to come under significant stress” during operational halts in South Africa die to the coronavirus pandemic, according to Barclays' analysts
CEO Bruce Counts said the move will help to ensure shareholders are represented by a qualified and well-rounded board
BlueRock was producing a significant amount of high value stones before the lockdown
On February 20, the firm announced the financing to raise up to $250,000 priced at $0.03 a share to be used for general working capital
BlueRock operates the Kareevlei diamond mine in South Africa
The new shares are also being consolidated on the basis of one new post-consolidation share for every five pre-consolidation shares
"Our priority in the near term will be to build on the discovery success of our first drill program at the MPD copper gold project in Southern BC"
Some shares rise as uncertainty is removed, and PGM supply squeezed
