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BlueRock Diamonds slashes half-yearly losses on increased diamond sales at higher prices.
For the six months ended 30 June 2019, pre-tax losses narrowed to £0.38m from £1.29m as revenue more than doubled to £1.37m from $0.55m, a year earlier.
The company more than doubled output to 4,936 carats from 2,438 carats a year earlier, with an average price achieved of US$405 per carat on sales of 4,365 carats, up from 2,419 carats sold at US$340 per carat.
The company reiterated its guidance for 2019, forecasting production between 280,000 to 335,000 tonnes at grades within a range of 4.25 to 5 carats per hundred tonnes. The company also expected to produce between 12,000 to 16,500 carats.
At 10:05am: (LON:BRD) Bluerock Diamonds Plc Ord 1p share price was +4p at 67.5p