1st Jul 2022 10:38
BlueRock Diamonds PLC - Reading-based diamond producer focused on South Africa - Narrows loss in 2021 as revenue grows on surging diamond prices. Pretax loss narrows to GBP1.3 million from GBP3.0 million in 2020. Revenue jumps to GBP7.8 million from GBP3.6 million. Average price per carat surges to USD470 in 2021 from USD295 in 2020. It now stands at USD600, an increase of 29% to 2021, firm says. The price increase starting in February is "largely linked to the Ukraine situation," BlueRock explains.
"We expect the supply side of quality diamonds, as those recovered by Kareevlei, to remain tight for the foreseeable future, with the ongoing conflict in Ukraine affecting the supply of rough diamonds," it adds, citing its Kareevlei diamond mine in the Kimberley region of South Africa.
Current stock price: 13.00 pence, down 3.7% on Friday
12-month change: down 69%
By Tom Budszus; [email protected]
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