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BlueRock Diamonds PLC - Reading-based diamond producer focused on South Africa - Narrows loss in 2021 as revenue grows on surging diamond prices. Pretax loss narrows to £1.3 million from £3.0 million in 2020. Revenue jumps to £7.8 million from £3.6 million. Average price per carat surges to $470 in 2021 from $295 in 2020. It now stands at $600, an increase of 29% to 2021, firm says. The price increase starting in February is ‘largely linked to the Ukraine situation,’ BlueRock explains.
‘We expect the supply side of quality diamonds, as those recovered by Kareevlei, to remain tight for the foreseeable future, with the ongoing conflict in Ukraine affecting the supply of rough diamonds,’ it adds, citing its Kareevlei diamond mine in the Kimberley region of South Africa.
Current stock price: 13.00 pence, down 3.7% on Friday
12-month change: down 69%
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