BlueRock Diamonds

BlueRock Diamonds shares (LON:BRD) rose on Tuesday after the company updated the market on its continued recovery of “exceptional” diamonds.

The diamond company announced the recovery of an exceptional 8.97 carat diamond on Friday the 1st of February at its Kareevlei mine.

The Kareevlei licence area covers 3,000 hectares, of which the company have recovered several high-value diamonds.

According to the company, this will be the third stone independently valued in excess of $50,000 from the mine.

The other two record value stones were a 7.76 carat stone mined back in 2017, which was later sold for $10,070 per carat, as well as a 10.58 carat stone recovered the following year and sold for $7,047 per carat.

Adam Waugh, Chief Executive of BlueRock Diamonds commented on the discovery:

“The 8.97 carat stone recovered on Friday 1st February, along with two other high-quality 6.36 carat and 3.64 carat diamonds, reinforces the exceptional quality being produced at Kareevlei.”

Last month the company released a report on the inferred mineral resource for the Kareevlei kimberlite cluster at its South African mine. Shares rose on the back of the update in January.

BlueRock Diamonds was founded in October 2012. The company focuses its efforts in South Africa and sub Saharan Africa.

The firm was admitted onto the AIM market of the London Stock Exchange back in 2013.

Shares in BlueRock Diamonds are currently +5.38% as of 10:26AM (GMT).