BlueRock Diamond nearing monthly target production

BlueRock Diamonds, the diamond mining company and operator of the Kareevlei Diamond Mine in the Kimberley region of South Africa, said it was nearing its target of 25,000 tonnes of production per month.

The AIM-listed company reported that output was now in excess of 20,000 tonnes per month, drawing it closer to its target.

In its interim results for the six months ended 30 June 2017, the company also said average grade continued to increase, rising to 1.59cpht.

Post period-end, that average grade had increased further, to 2.41cpht, and the grade sold in the September tender reached 3.01cpht.

Additionally, average value per carat achieved for the first six months of 2017 was $320, rising to $343 post-period.

The company also announced that in August 2017 it had raised £860,000 gross through a placing and subscription.

On its future plans, BlueRock's chairman said: "We are now looking to expand our operations either through developing our existing mining right at Kareevlei or by acquiring rights to mine other areas."

"We intend to do this in a cost-effective way, using our current facilities where possible to assess other potential opportunities."