BlueRock Suspends Share Trading Amid "Financial Uncertainty"
February 26, 23
(IDEX Online) - British miner BlueRock Diamonds has suspended trading in its shares after the subsidiary that operates its Kareevlei mine, in Kimberley, South Africa, was place in business rescue.
In a statement issued on Friday (24 February) it said it had "requested that trading in the company's shares on the AIM market of the London Stock Exchange be suspended due to financial uncertainty resulting from its principal operating subsidiary, Kareevlei Mining (pty) Limited, being placed into business rescue."
The company did not disclose any further details. In January work at Kareevlei was halted over breaches of the Mines Health and Safety act.
Last April and May processing production at the mine was cut by over a third because of unexpectedly high rainfall. Kareevlei CEO Meiring Burger stepped down in July.
But in a trading update last month the AIM-listed miner confirmed it was now back to normal production levels.
We have approached BlueRock for comment.
Pic of Kareevlei processing plant courtesy BlueRock