StockMarketWire.com - BlueRock Diamonds has raised £366k (before expenses) via the issue of 12,200,000 new ordinary shares at 3p apiece.

The Company said it intends to use the proceeds to continue with the development of the Kareevlei Mine as well as funding its strategy of adding to its current portfolio of diamond mining assets.

A parcel of 143 carats were sold in the May tender and returned an average price of $224 per carat. This combined with the April tender results has shown a small increase in the overall average $ per carat to $298.

Paul Beck, Non-Executive Chairman of the Company, has subscribed for 333,333 New Shares, following which he will have a beneficial interest in 2,551,231 Ordinary Shares representing 3.8% of the issued share capital and total voting rights of the Company. Included in Mr Beck's beneficial interest are 455,455 Ordinary Shares held by Front Square Securities Limited, a company wholly owned by Mr Beck and his wife and of which Mr Beck is a director.




At 2:02pm: [LON:BRD] Bluerock Diamonds Plc Ord 1p share price was -0.5p at 3.75p



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