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BlueRock recovers 16.28 carat diamond from Kareevlei mine

It's the largest stone recovered so far by BlueRock from Kareevlei

Diamonds from Kareevlei

BlueRock Diamonds PLC (LON:BRD) has recovered a 16.28 carat diamond of gem quality from its Kareevlei mine in South Africa.

The stone is 4.58 carats larger than the largest stone hitherto extracted from Kareevlei by BlueRock.

READ: BlueRock Diamonds says exceptional 8.97-carat diamond recovered from Kareevlei mine in South Africa

BlueRock is now arranging to have the diamond valued and will provide further updates in due course.

"This discovery follows hot on the heels of our recovery of an exceptional 8.97-carat diamond on Friday 1st February,” said BlueRock chief executive Adam Waugh.

“The quality of these diamonds is a reminder of why we are so confident about the potential of the Kareevlei mine and the outlook for 2019."

The 8.97-carat diamond was the third stone BlueRock has mined from Kareevlei which is independently valued in excess of US$50,000.

The two previous record value stones were a 7.76 carat stone recovered in 2017 and sold for US$10,070 per carat and a 10.58 carat stone recovered in 2018 and sold for US$7,047 per carat. 

Separately, BlueRock has raised £575,000 in a placing of shares at 0.3p each. The money raised will be invested in mining operations and in an associated plant.



Quick facts: Bluerock Diamonds Plc

Price: 103 GBX

Market: AIM
Market Cap: £3.36 m

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on 28/10/19

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