BlueRock Diamonds output up 45% in third quarter, achieves higher gem prices

13:21 16/10/2019
StockMarketWire.com - BlueRock Diamonds recorded a 45% rise in third-quarter output, despite operations being suspended for 19 days in July for crushing-circuit works.

Output for the three months through September rose to 92,500 tonnes, up from 63,600 tonnes on-year.

The grade of diamonds also rose, to 4.30 carrots per hundred tonnes up from 3.13 carrots.

BlueRock Diamonds achieved an average price of $432 per carrat on sales of 4,139 carats, up from $341 per carrat from sales of 1,834 carats.

'We reached our monthly production target of 40,000 tonnes earlier than planned and achieved record levels of production for the quarter,' executive chairman Mike Houston said.

'The increased production, coupled with the increase in grade to above the lower end of expectations, as well as the continued quality of our diamonds leading to consistently high values per carat, has led to record levels of income and lowered unit costs of production.'

'I remain confident that we will meet our target of profitability in the second half of 2019.'

At 1:21pm: (LON:BRD) Bluerock Diamonds Plc Ord 1p share price was +6p at 133.5p


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