BlueRock Diamonds sells another 3,805 carats privately

BlueRock Diamonds announced the sale of 3,805 carats on Wednesday, at an average price of $330 (£247.43) per carat, for a total of $1.26m.

The AIM-traded diamond producer owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa.

“Our diamonds remain attractive to buyers even in what continues to be an uncertain market,” said executive chairman Mike Houston.

“Similar to the sale announced in June, this was a private sale conducted through a sales agent in South Africa.

“We are pleased with the price achieved which is above our internal budget and a 14% increase over the price achieved in June.”

Houston added that the company was still finalising the necessary export requirements, which had proven to be “a lengthy process” in the current Covid-19 environment.

“As soon as this is completed, we will commence exports which gives us the flexibility of bridge financing our inventory, if required.

“Until then, we have the option of selling our diamonds locally at a price which allows us to operate profitably.”

At 0836 BST, shares in BlueRock Diamonds were up 5.6% at 52.8p.