ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for smarter Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.

Stellar Diamonds: Baoulé Diamond Export and Upcoming Sale

Share On Facebook
share on Linkedin
Print

Baoulé Diamond Export and Upcoming Sale

© Image copyright kkoshy

Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, has announced that it has exported a diamond parcel of 3,341 carats from trial mining of its Baoulé kimberlite project in the Aredor area of Guinea to Antwerp. These goods will be cleaned and assorted prior to a planned auction which is expected to take place in March.

This third diamond sale will form part of the on-going trial mining evaluation of the Baoulé pipe in order to determine the diamond grade and value of the deposit. Stellar’s objective is to mine and process 100,000 tonnes of kimberlite, which is now over 70% complete and is yielding results in line with expectations. Based on the current grade realised and previous drilling results the Company is still targeting a resource in the region of 3 million carats at Baoulé.

To date some 8,830 carats have been recovered from the trial mining. Two diamond sales, totaling 5,173 carats and generating revenues of over US$700,000, have been completed in 2015.

Further information on the planned diamond auction will be given once the final schedule has been confirmed.

Stellar is an AIM quoted (AIM: STEL) West African focused diamond development company which has commenced trial mining of its Baoulé kimberlite in Guinea, and is progressing the 1.45 million carat Tongo Dyke-1 resource in Sierra Leone through the mining licence application process. In addition, Stellar holds the 3 million carat Droujba project in Guinea and continues to pursue diplomatic channels to ensure the proper reinstatement of its Kono licences in Sierra Leone.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com