BlueRock Executive Chairman, Mike Houston, states: “I am pleased to report a record quarter for three of our main KPIs: production, carats produced and grade.
“Volumes have been strong even though we are still using our old plant; this bodes well for the future. The increase in grade to 4.51 cpht is particularly pleasing as it follows a period of low grade whilst we concentrated on creating the Main Pit; we are confident that we will be able to meet or exceed our long term guidance of between 4.0 cpht and 4.6 cpht.
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“We estimate that the average price per carat is approximately 10% down on the comparative period in 2019 excluding higher value stones.
“The price per carat in Q3,2019 reflected the sale of four high value stones, which sold for a total of US$450,000 and in Q3,2020 we sold only one higher value stone, which was valued at $104,000.
“I am also pleased to report that the expansion project is well under way and we fully expect the new plant to be commissioned by the end of the year as planned. I look forward to updating the market as we progress.”