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BlueRock Diamonds PLC - diamond producer focused on South Africa - Raises £2.1 million through a placing of 6.0 million shares at a price of 35 pence each. This price represents a 35% discount to the company's closing price of 53.50p on Wednesday. The proceeds will be used to implement its upgraded mining plan and pay its contractor.
BlueRock says its diamond prices rose 30% to $600 per carat in the first two months of 2022 compared to the average price of $460 in 2021. The company does not, however, change its pricing guidance for the year from $450 per carat. Adds that production in the first quarter has been ‘positive’ despite challenging operational conditions.
Current stock price: 37.85 pence, down 29% in London
12-month change: down 8.8%
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