BlueRock Diamonds sells four gem quality stones for $460,000
Bluerock Diamonds
2.25p
16:30 28/06/23
AIM-listed BlueRock Diamonds said on Friday that it sold four gem quality stones in February for $460,000 and that the current geopolitical situation could lead to more shortages of rough diamonds.
FTSE AIM All-Share
739.04
17:14 06/11/24
Mining
11,492.88
17:04 06/11/24
The company, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, said the average tender price of the total parcel of $638 per carat was significantly above the 2021 average of $465 and follows a strong tender in January, which had an average price of $565.
Executive chairman Mike Houston said: "As with the January tender, we are seeing a very high demand for Kareevlei's diamonds, and I believe this is the first time we have seen four diamonds selling for an average of over a $100,000 per stone in a single parcel.
"The exceptional average price per carat for the total parcel of %638 marked a 37% jump compared to 2021 and is reflective of the strong retail market conditions and a tightening rough diamond supply of high-quality diamonds such as Kareevlei's. The current geopolitical environment could create further shortages of rough diamonds."
At 1335 GMT, the shares were up 19% at 48.30p.