West Africa-focused Stellar Diamonds' (LON:STEL) shares rose after it confirmed further high diamond grades had been returned from the bulk sampling programme under way at its 1.1 million carat Tongo dyke kimberlite project in Sierra Leone.

Highlights included:

- Initial sample processing yielded 151 carats from 141t of kimberlite for a grade of 107cpht with further results expected approximately every four weeks

- Anticipated that diamond grade will increase as further diamonds are recovered following re-processing

- Outstanding quality of diamonds classified as 86% gem quality with several stones greater than 1 carat in size

- Bulk sampling on-going with 772 tonnes collected to date as part of the Dyke-1 mining DFS

- Objective to recover a minimum 1,000 carat parcel for diamond grade and value confirmation

- Previous results established a grade of 120cpht at US$248 per carat from a 1,050 carat parcel

- Definitive Feasibility Study ("DFS") expected to be completed in 2014, culminating in a production decision at Tongo Dyke-1

I'm in ..worth a punt... let's see what happens!

25 April 2018
Stellar Diamonds plc ("Stellar")


Recommended Offer by Newfield Resources Limited ("NWF")

SCHEME SANCTIONED BY COURT

The Board of Stellar is pleased to announce that the Court has today sanctioned the Scheme to effect the acquisition by NWF of the entire issued and to be issued share capital of Stellar.

All Conditions of the Scheme and the Combination have now been satisfied or waived other than delivery to Companies House of a copy of the Court Order, which is expected to take place tomorrow, 26 April 2018, at which point the Scheme will become effective.

It is expected that trading in Stellar Shares on AIM will be suspended with effect from 7.30 a.m. on 27 April 2018 and the admission of Stellar Shares to trading on AIM will be cancelled with effect from 7:00 a.m. on 30 April 2018. The last day of dealings in Stellar Shares will therefore be 26 April 2018.

Capitalised terms used but not defined in this announcement have the same meaning as in the scheme circular sent to Stellar Shareholders on 26 March 2018. All references to times in this announcement are to London time.

http://www.moneyam.com/action/news/showArticle?id=5947040