BlueRock Diamonds PLC Trading Update (3992U)
18 January 2017 - 6:00PM
UK Regulatory
TIDMBRD
RNS Number : 3992U
BlueRock Diamonds PLC
18 January 2017
BlueRock Diamonds plc
("BlueRock" or "the Company")
18 January 2017
Trading update
BlueRock is pleased to give the following update on operations
at Kareevlei, its licence area in the Northern Cape of South Africa
containing five known kimberlite pipes. Over the last few months
the Company has been working on completing the plant upgrade and
establishing a drill and blast programme in order to recommence
mining operations. This work is progressing in-line with budget and
it is expected that the processing of Run of Mine material will
recommence in early February 2017.
Processing plant
The planned work on the processing plant is now complete. This
work, which took place during the last six weeks of 2016, included
a thorough overhaul of the main components of the plant, which is
expected to increase the capacity and efficiency of the plant.
Testing of these upgrades started in December 2016 and is now
largely complete.
Primary Circuit
The new primary crusher, which is expected to reduce our
processing costs significantly, is now onsite and the pre-screening
circuit is being delivered this week. The installation of these
elements is expected to be completed by the end of January
2017.
New Contractor
African Mining and Crushing, our new contractor responsible for
Drilling & Blasting and Loading & Hauling are now onsite
and preparing for the next blast which is expected to take place
during the week commencing 23(rd) January 2017. This is the first
of a planned series of blasts that are designed in order to supply
a consistent source of Run of Mine material for processing.
Water Supply
The drought conditions in the Northern Cape have at least
temporarily broken in the last four weeks. There has been
significant rain at Kareevlei and the water table has recovered.
This is very welcome for the water requirement of the plant in the
short and medium term although it does present operational problems
regarding safe access to some areas of the mine and has the
potential to impact on the timing of recommencement of operations
though this is not currently anticipated.
Adam Waugh, CEO commented:
"We have made good progress since our last update on 22(nd)
November 2016. Our operation is now fully compliant with the
requirements of the Department of Mineral Resources and the Section
54 closure notices have now been lifted. We will continue to test
the changes made to the plant over the next few weeks on low grade
stockpiles. The next blast is scheduled for later in January which
is expected to provide good quality Run of Mine material ready for
the completion of the new primary crushing and screening circuit.
2016 proved to be a difficult year for BlueRock Diamonds but we
have entered 2017 with cautious optimism."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
BlueRock Diamonds SP Angel Corporate
plc Finance LLP
Adam Waugh, CEO Nominated Adviser &
awaugh@bluerockdiamonds.co.uk Broker
Stuart Gledhill / Lindsay
Mair
+44 (0) 20 3470 0470
About BlueRock Diamonds plc (AIM: BRD)
BlueRock is a diamond mining company with activities in the
Kimberley region of South Africa. BlueRock owns a diamond
processing plant and the mining right over the Kareevlei Tenements
in South Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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