BlueRock Diamonds has posted an operating loss of £590,100 ($990,000) for the 14 months from its incorporation to the end of December.
Company chairperson Paul Beck said that following admission to AIM in September last year the company had made considerable progress.
This included agreeing to purchase the mining right over the Kareevlei tenements in South Africa, commission of excavation work and plant.
“We have achieved this at a relatively minimal cost to the company; the total cost of reaching production has been approximately £700,000 ($1.2 million),” he said.
“This is in large part due to the efforts of our team in Kimberley and our BEE partner, Willy van Wyk who has been responsible for the commissioning and upgrade of the plant.”
BlueRock chief executive Riaan Visser said the Kareevlei tenements offer excellent growth opportunities for the company, with the largest of the known kimberlite pipes being virtually unexplored.
He said the focus of the company was now to ensure that the processing plant function optimally.
The company also intends to further upgrade the plant to improve the crushing circuits and increase processing capacity.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
