14th Sep 2022 14:34
BlueRock Diamonds PLC - South Africa-focus diamond producer - Says Mike Houston has stepped down as acting executive chair with immediate effect, replaced by the firm's independent non-executive director Rob Croll. Victor Dingle, currently CEO and chief financial officer at Teichmann Group, joins the board as the chief executive officer. Teichmann Group is the firm's largest shareholder. Finance Director David Facey will also step down later this week.
"This is an exciting new phase for the company having endured several difficult years as a result of the Covid-19 pandemic and extreme weather conditions that delayed the commissioning of the new transformational 1Mtpa plant and the opening up of the Main Pit to optimise its economic depth potential," Chair Rob Croll says.
"The high-level review completed in June/July this year has provided a clear but challenging path to optimising production, which in turn will enable us to take advantage of the robust diamond market dynamics."
Current stock price: 8.23 pence, up 6.1% on Wednesday
12-month change: down 83%
By Elizabeth Winter; [email protected]
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