BlueRock Diamonds plc has raised an aggregate of £366,000 (before expenses) via the issue of 12,200,000 new ordinary shares of 1 pence each in the capital of the Company (“the New Shares”) at a price of 3 pence per New Share.

The funds, generated through Placing and Subscription, will be used to to continue with the development of Kareevlei Mine as well as funding the company’s strategy of adding to its current portfolio of diamond mining assets.

In May, the Company also sold a parcel of 143 carats with an average price of $224 per carat. This combined with the April tender results has shown a small increase in the overall average $ per carat to $298, BlueRock said.