BlueRock Diamonds PLC Crushing Circuit Reaches Target Production Levels (7531Y)
24 August 2018 - 4:00PM
UK Regulatory
TIDMBRD
RNS Number : 7531Y
BlueRock Diamonds PLC
24 August 2018
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
24 August 2018
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Crushing Circuit Reaches Target Production Levels
BlueRock Diamonds PLC, the AIM listed diamond producer, which
owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the
Kimberley region of South Africa, is pleased to announce that its
crushing circuit is now processing at or above the Company's target
production level of around 80 tonnes an hour following the
installation of a second cone crusher and the implementation of
optimisation initiatives.
As previously announced, in June 2018 a fault was discovered in
the Company's cone crusher which led to processing being stopped
for around 10 days. Whilst the fault was being rectified, a rented
crusher was installed on site at Kareevlei at modest additional
cost. BlueRock's original cone crusher is now refurbished and
operating in tandem with the rented crusher thus increasing the
throughput capacity in the secondary crushing process. The crushing
circuit now has the capacity to operate at more than 80 tonnes per
hour which will enable us to produce stockpiled material to
alleviate the production challenges in the rainy period from
January to April. The Company looks forward to providing an update
on the third quarter's production in early October 2018.
Adam Waugh, CEO, commented, "I am delighted that we have
resolved our issues with the crushing circuit and we now look
forward to a continuous period of production at or above our target
levels. With two cone crushers now on site at Kareevlei and
stockpiles expected to build up for processing during the rainy
season we are in good shape for the remainder of Q3 and Q4
particularly as we prepare to process Kimberlite from our higher
grade KV1 pipe, the second of five pipes within the project area.
With this in mind we look forward to the rest of the year with
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.
**ENDS**
For further information, please visit BRD's website
www.bluerockdiamonds.co.uk or contact:
BlueRock Diamonds PLC awaugh@bluerockdiamonds.co.uk
Adam Waugh, CEO dfacey@bluerockdiamonds.co.uk
David Facey, FD
SP Angel (NOMAD and Joint Broker) Tel: +44 (0)20 3470 0470
Stuart Gledhill / Lindsay Mair/Caroline
Rowe
--------------------------------
SVS Securities (Joint Broker) Tel: +44 (0) 20 3700 0100
Tom Curran / Ben Tadd
--------------------------------
St Brides Partners Ltd (Financial Tel: +44 (0)20 7236 1177
PR)
Lottie Wadham / Juliet Earl
--------------------------------
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END
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