Diamonds are a Girls Best Friend
“…We are a small niche quality diamond seller and have constantly demonstrated this here at Bluerock Diamonds…”
Following on from our recent podcast with Bluerock Diamonds Financial Director David Facey (link below) this time Doc Holiday catches up with Executive Chairman Mike Houston to discuss the various projects, a general business update and this weeks interim results.
Since the last interview with the company BlueRock announced a discovery of a 9.7 carat diamond with an independent valuation of $75,000. It was the second high value stone recovered in the last quarter.
The last six months have been a challenge, but the company reopened the mine earlier this year as soon as was permitted in South Africa and after only 50 days of Care and Maintenance measures and have made continued expansion plans at Kareevlei, combining KV1 and KV2 to mine more efficiently, whilst also increaseing the plant size by 20% to handle one million tonnes per annum.
Bluerock then strengthened the balance sheet in late summer with an over-subscribed placing to substantially increase annual production rates.
With the company back to full production, a strong balance sheet and the price of Diamonds going back to pre Covid levels the company looks set for an exciting period ahead…
The author was not paid for this article but does hold shares in said company.