BlueRock Diamonds Prepares To Move To 365-Day Operations

LONDON (Alliance News) - BlueRock Diamonds PLC on Friday said it is finalising its preparations ...

Alliance News 15 March, 2019 | 12:24PM
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LONDON (Alliance News) - BlueRock Diamonds PLC on Friday said it is finalising its preparations to move to 365-day operations at the Kareevlei Diamond Mine in South Africa after receiving the necessary permissions.

Although the move comes "slightly later than had been anticipated", BlueRock said it has not had any material impact on its production volume guidance of between 35,000 tonnes to 45,000 tonnes in the first quarter.

Furthermore, the firm added that the production volume for the first quarter is expected to be "nearer the upper end of this range".

"The move to 365-day operations is a significant step in our drive to increase production volumes and move towards profitability," Chief Executive Officer Adam Waugh said.

BlueRock Diamonds shares were trading up 4.4% at 0.26 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Security Name Price Change (%) Morningstar
Rating
BlueRock Diamonds PLC 0.26 GBX 0.00 -
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