Image credit: BlueRock
BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in South Africa has issued 21,935 ordinary shares at a price of 54.4p a share.
It said the issuance of shares is meant to partially satisfy the payment of interest and repayment premium of a loan agreement between the previous chief executive Adam Waugh and the company.
BlueRock now owes him £49,000.
The AIM-listed diamond mining company said its issued share capital will now consist of about 9,1 million ordinary shares.
BlueRock recorded an operating loss of about £1,5 million on turnover of about £1,3 million in the six months ended 30 June 2020 compared with a loss of £471,000 on turnover of approximately £1,4 million in the first half of 2019.
Despite being closed for almost two months as a result of COVID-19, production increased by 37% to 165,000 tonnes compared with the first half of 2019.
It produced 4,981 carats in the first half of 2020 compared to 4,938 carats, the previous year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
