BlueRock raises funds to restart Kareevlei

To progress plans at its Kareevlei mine, Aim-listed diamond miner BlueRock Diamonds has raised £750 000, before expenses, through an equity placing. It placed 16.87-million new ordinary shares at 4p apiece and secured an extension to its existing convertible loan note. The funds will be used to target production levels of 30 000 t/m at a reduced cost, as well as continuing to refine the Northern Cape-based processing plant.