BlueRock Diamonds PLC providing a production update for the Kareevlei Diamond Mine in the Kimberley region of South Africa, for Q1 2019, reported that total ore mined stood at 42,409 tonnes; marking an increase of 12% as compared to total tonnage in Q1 2018 amounting to 38,781 tonnes.

The Company achieved an average grade of 3.41 cpht, which, though lower than the 3.80 cpht recorded for the same period in the previous year, is 4% higher than the average grade for FY 2018, which stood at 3.28 cpht.

BlueRock sold a total of 1,847 carats in Q1 2019, marking a growth of 18% on sales of 1,563 carats for Q1 2018.

The average price per carat of US$ 371 realised in Q1 2019 stands slightly lower than the average price per carat realised for the comparable period of 2018 which was US$ 378; however, it is 10% higher than the average per carat price realised for FY 2018 which amounted to US$ 332.

The Company also reported the recovery of two large stones – an 8.97 carat diamond and a 16.28 carat diamond – during the period which were sold for US$ 74,513 and US$ 78,947, respectively.  

BlueRock CEO Adam Waugh commented, “I am pleased that the volumes for Q1 are at the higher end of our expectations despite the temporary suspension for 8 days in February. The average price per carat remains high reflecting the high quality of our diamonds.”

He added: “We commenced 7 days a week operations on the 26 March 2019, the results of which are beginning to come through assisted by significant strengthening of our mining team in Kimberley. We have further work to do in improving our operations and look forward to updating the market on our plans and production guidance for the full year in due course.”