19th Jul 2019 12:27
(Alliance News) - Shares in BlueRock Diamonds PLC surged Friday after it sold a 12.2 carat diamond for USD105,000 in July, marking its second most valuable diamond sold to date.
Shares in BlueRock were 11% higher at 0.12 pence in London on Friday.
BlueRock had recovered the 12.2 carat diamond from its Kareevlei Diamond Mine in South Africa, selling it in the July tender at USD8,584 per carat.
In 2018, BlueRock generated a GBP2.5 million pretax loss from revenue of GBP1.4 million.
The sale represents the second most valuable diamond sale by BlueRock after it sold a 24.98 carat diamond for USD196,000 in June.
"We are delighted to have received in excess of USD100,000 for this diamond and continue to be encouraged by the ongoing recovery of high quality stones," BlueRock Executive Chair Mike Houston said.
"We have made excellent progress in improving our operational practises at Kareevlei which has resulted in increased volumes and the more regular recovery of higher value stones", Houston added.
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