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STEL>>> Stellar Diamonds!-Stellar Performance in the offing! (STEL)
skyhigh - 25 Feb 2014 10:26
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!
doodlebug4 - 27 Mar 2014 14:05 - 25 of 144
Stellar Diamonds PLC Given “Hold” Rating at Sanlam Securities (STEL)
Posted by Zach Kirkland on Mar 27th, 2014
Stellar Diamonds PLC (LON:STEL)‘s stock had its “hold” rating reaffirmed by equities researchers at Sanlam Securities in a research report issued on Thursday, StockRatingsNetwork reports. They currently have a GBX 2.10 ($0.03) price target on the stock. Sanlam Securities’ price objective indicates a potential upside of 22.09% from the company’s current price.
Stellar Diamonds PLC (LON:STEL) opened at 1.6967 on Thursday. Stellar Diamonds PLC has a 52 week low of GBX 0.90 and a 52 week high of GBX 2.202. The stock has a 50-day moving average of GBX 1.77 and a 200-day moving average of GBX 1.27.
STEL has been the subject of a number of other recent research reports. Analysts at Daniel Stewart & Co reiterated a “buy” rating on shares of Stellar Diamonds PLC in a research note on Tuesday, March 18th. They now have a GBX 5 ($0.08) price target on the stock.
Posted by Zach Kirkland on Mar 27th, 2014
Stellar Diamonds PLC (LON:STEL)‘s stock had its “hold” rating reaffirmed by equities researchers at Sanlam Securities in a research report issued on Thursday, StockRatingsNetwork reports. They currently have a GBX 2.10 ($0.03) price target on the stock. Sanlam Securities’ price objective indicates a potential upside of 22.09% from the company’s current price.
Stellar Diamonds PLC (LON:STEL) opened at 1.6967 on Thursday. Stellar Diamonds PLC has a 52 week low of GBX 0.90 and a 52 week high of GBX 2.202. The stock has a 50-day moving average of GBX 1.77 and a 200-day moving average of GBX 1.27.
STEL has been the subject of a number of other recent research reports. Analysts at Daniel Stewart & Co reiterated a “buy” rating on shares of Stellar Diamonds PLC in a research note on Tuesday, March 18th. They now have a GBX 5 ($0.08) price target on the stock.
doodlebug4 - 15 Apr 2014 14:34 - 26 of 144
Starting to tick up again - the end of Q1 bulk sampling for the Tongo project could be announced this month.
doodlebug4 - 08 May 2014 11:03 - 27 of 144
Stellar Diamonds conditionally raises £1.85m
StockMarketWire.com
Stellar Diamonds has conditionally raised about £1.85m before expenses through the issue of 148,179,476 new ordinary shares at 1.25p each to new and existing private and institutional investors.
Proceeds of the fundraising would be used predominantly on advancing the company's Baoule kimberlite project in Guinea towards trial mining, as well as continuation of the bulk sampling at Tongo Dyke-1 in Sierra Leone, settlement of outstanding fees and for general working capital.
Stellar's right to earn into the Baoule project at the diamondiferous Baoule kimberlite pipe, which is located in the prolific diamond region of Aredor in southeast Guinea were granted under a joint venture agreement in December 2013.
Using an extensive historical database as reference, Stellar has modelled a target resource of over 22 million tonnes to a depth of 300m. Bulk sampling by previous owners has yielded diamond grades of between 13 and 40 carats per hundred tonnes ("cpht").
Taking the lower grade of 13cpht, Stellar is targeting a diamond resource of 3 million carats. In 2000, a 500 carat parcel sold for US$157 per carat which the Company estimates would yield over US$200 per carat in the current diamond market.
The Company intends to allocate funds to accelerate Baoule to trial mining and is already in the process of relocating its assets from Droujba and Mandala to Baoule, particularly its MB 100 dense media separation ("DMS") plant which is capable of processing large tonnages and recovering large, high value diamonds for which the Aredor area is renowned.
The Company is scheduling commissioning of the plant in August 2014 with trial mine processing commencing in September 2014.
Stellar intends to acquire its 75% interest in the Baoule project, as per the joint venture agreement, through a combination of past and future expenditure and vending in of various plant and machinery assets before the commencement of the trial mining.
At the Tongo project in Sierra Leone, on-going bulk sampling of the 1.1 million carat Dyke-1 resource continues to yield very high diamond grades with exceptional quality diamonds. Stellar recently reported recovery of 551 carats at an average bulk sample grade of 126cpht which is in excess of the modelled resource grade of 120cpht.
Stellar will continue with the bulk sampling programme into July 2014, in order to achieve at least a 1,000 carat diamond parcel for the valuation and diamond value modelling that is required for the definitive feasibility study.
Given the tough market conditions for small mineral resources companies, the directors believe that the acceleration of Baoule to trial mining is the correct strategy to deliver shareholder value as Baoule has the potential to generate cash flow for the Company during the second half of 2014.
The work at Tongo will continue through the bulk sampling exercise, although completion of the full definitive feasibility study will now be targeted for the first half of 2015.
The cost of the 2014 work programme is estimated at £1.0 million for Baoule and £0.3 million for Tongo. The Company will use the remaining £0.55 million raised for corporate, in country and general working capital purposes.
At 8:24am: (LON:STEL) Stellar Diamonds PLC share price was -0.35p at 1.33p
Story provided by StockMarketWire.com
StockMarketWire.com
Stellar Diamonds has conditionally raised about £1.85m before expenses through the issue of 148,179,476 new ordinary shares at 1.25p each to new and existing private and institutional investors.
Proceeds of the fundraising would be used predominantly on advancing the company's Baoule kimberlite project in Guinea towards trial mining, as well as continuation of the bulk sampling at Tongo Dyke-1 in Sierra Leone, settlement of outstanding fees and for general working capital.
Stellar's right to earn into the Baoule project at the diamondiferous Baoule kimberlite pipe, which is located in the prolific diamond region of Aredor in southeast Guinea were granted under a joint venture agreement in December 2013.
Using an extensive historical database as reference, Stellar has modelled a target resource of over 22 million tonnes to a depth of 300m. Bulk sampling by previous owners has yielded diamond grades of between 13 and 40 carats per hundred tonnes ("cpht").
Taking the lower grade of 13cpht, Stellar is targeting a diamond resource of 3 million carats. In 2000, a 500 carat parcel sold for US$157 per carat which the Company estimates would yield over US$200 per carat in the current diamond market.
The Company intends to allocate funds to accelerate Baoule to trial mining and is already in the process of relocating its assets from Droujba and Mandala to Baoule, particularly its MB 100 dense media separation ("DMS") plant which is capable of processing large tonnages and recovering large, high value diamonds for which the Aredor area is renowned.
The Company is scheduling commissioning of the plant in August 2014 with trial mine processing commencing in September 2014.
Stellar intends to acquire its 75% interest in the Baoule project, as per the joint venture agreement, through a combination of past and future expenditure and vending in of various plant and machinery assets before the commencement of the trial mining.
At the Tongo project in Sierra Leone, on-going bulk sampling of the 1.1 million carat Dyke-1 resource continues to yield very high diamond grades with exceptional quality diamonds. Stellar recently reported recovery of 551 carats at an average bulk sample grade of 126cpht which is in excess of the modelled resource grade of 120cpht.
Stellar will continue with the bulk sampling programme into July 2014, in order to achieve at least a 1,000 carat diamond parcel for the valuation and diamond value modelling that is required for the definitive feasibility study.
Given the tough market conditions for small mineral resources companies, the directors believe that the acceleration of Baoule to trial mining is the correct strategy to deliver shareholder value as Baoule has the potential to generate cash flow for the Company during the second half of 2014.
The work at Tongo will continue through the bulk sampling exercise, although completion of the full definitive feasibility study will now be targeted for the first half of 2015.
The cost of the 2014 work programme is estimated at £1.0 million for Baoule and £0.3 million for Tongo. The Company will use the remaining £0.55 million raised for corporate, in country and general working capital purposes.
At 8:24am: (LON:STEL) Stellar Diamonds PLC share price was -0.35p at 1.33p
Story provided by StockMarketWire.com
banjomick
- 08 Jan 2015 00:14
- 28 of 144
UPDATE - Stellar Diamonds says Guinea trial mining on track; opts for larger Antwerp auction
By Ian Lyall
January 06 2015, 11:16am
ADDS BROKER COMMENTS AND SHARE PRICE---
Stellar Diamonds (LON:STEL) said it is planning a far larger auction of stones than was first anticipated as it updated on progress at its Baoulé kimberlite pipe in Guinea.
In total it will sell 5,900 carats, which consists of 2,200 carats from Baoulé and 3,700 carats of inventory taken from other projects.
Stellar said it decided to opt for a larger auction in Antwerp, centre of the world diamond market, to maximise revenues.
"The planned sale will be scheduled for later in January, when buying activity resumes in Antwerp after the end of year break,” said chief executive Karl Smithson.
In the same announcement investors were told 2,145 carats have been unearthed from the five hectare Baoulé pipe at a grade of 15 carats per hundred tonnes. High quality gems continue to be recovered, including stones of 8.5 and 6.6 carats in size.
The processing plant is running at its planned 50 tonnes of ore per hour optimum rate, meaning monthly production should be in the order of 2,000 carats, assuming the current grade is maintained.
"We are pleased with the on-going progress of the trial mining at Baoulé,” CEO Smithson added.
“The regular occurrence of larger gem quality stones is highly encouraging, as is maintaining our target plant processing capacity and run of mine grade, in order to achieve our objective of processing 2,000 carats per month during 2015.”
The City broker Sanlam has been heartened by progress to date. It pointed out the frequency of large stones suggests the kimberlite is host to a “good percentage of gem quality stones”.
It therefore reckons a price of US$200 a carat is achievable, which stacks up to be US$30 a tonne of ore mined, or double the mining and processing cost.
“Based on Stellar’s 22mln-tonne resource estimate, which is likely to be quite accurate, Baoule represents a good sized and decent margin mining project,” said Sanlam analyst Charlie Long.
At 11.15am, the shares were marking time at 1.2p each.
http://www.proactiveinvestors.co.uk/companies/news/75929/update-stellar-diamonds-says-guinea-trial-mining-on-track-opts-for-larger-antwerp-auction-75929.html
By Ian Lyall
January 06 2015, 11:16am
ADDS BROKER COMMENTS AND SHARE PRICE---
Stellar Diamonds (LON:STEL) said it is planning a far larger auction of stones than was first anticipated as it updated on progress at its Baoulé kimberlite pipe in Guinea.
In total it will sell 5,900 carats, which consists of 2,200 carats from Baoulé and 3,700 carats of inventory taken from other projects.
Stellar said it decided to opt for a larger auction in Antwerp, centre of the world diamond market, to maximise revenues.
"The planned sale will be scheduled for later in January, when buying activity resumes in Antwerp after the end of year break,” said chief executive Karl Smithson.
In the same announcement investors were told 2,145 carats have been unearthed from the five hectare Baoulé pipe at a grade of 15 carats per hundred tonnes. High quality gems continue to be recovered, including stones of 8.5 and 6.6 carats in size.
The processing plant is running at its planned 50 tonnes of ore per hour optimum rate, meaning monthly production should be in the order of 2,000 carats, assuming the current grade is maintained.
"We are pleased with the on-going progress of the trial mining at Baoulé,” CEO Smithson added.
“The regular occurrence of larger gem quality stones is highly encouraging, as is maintaining our target plant processing capacity and run of mine grade, in order to achieve our objective of processing 2,000 carats per month during 2015.”
The City broker Sanlam has been heartened by progress to date. It pointed out the frequency of large stones suggests the kimberlite is host to a “good percentage of gem quality stones”.
It therefore reckons a price of US$200 a carat is achievable, which stacks up to be US$30 a tonne of ore mined, or double the mining and processing cost.
“Based on Stellar’s 22mln-tonne resource estimate, which is likely to be quite accurate, Baoule represents a good sized and decent margin mining project,” said Sanlam analyst Charlie Long.
At 11.15am, the shares were marking time at 1.2p each.
http://www.proactiveinvestors.co.uk/companies/news/75929/update-stellar-diamonds-says-guinea-trial-mining-on-track-opts-for-larger-antwerp-auction-75929.html
banjomick
- 08 Jan 2015 15:37
- 29 of 144
Director’s dealing
The Company was informed on 07 January 2015 that Karl Smithson, Chief Executive Officer of the Company, on the same day transferred ordinary shares from a nominee account in his personal name into a personal ISA as follows:
Date Transferred---Number of shares transferred
07 Jan 2015----------------996,140
Mr Smithson is also in the process of transferring 2,490,000 from a nominee account in his personal name to a nominee account held in joint names between Karl Smithson and his wife, Sara Jane Smithson. The transfer is expected to be completed on 12 January 2015.
There is no change to Mr Smithson’s total beneficial as a result of the transfers. His holding remains as 7,267,371 ordinary shares, representing 1.0% of the issued share capital of the Company.
The issued share capital of the Company comprises 723,567,568 Ordinary Shares of 1p each
********************
Full details from link below
http://stellar-diamonds.com/news/press/directors-dealing-4
The Company was informed on 07 January 2015 that Karl Smithson, Chief Executive Officer of the Company, on the same day transferred ordinary shares from a nominee account in his personal name into a personal ISA as follows:
Date Transferred---Number of shares transferred
07 Jan 2015----------------996,140
Mr Smithson is also in the process of transferring 2,490,000 from a nominee account in his personal name to a nominee account held in joint names between Karl Smithson and his wife, Sara Jane Smithson. The transfer is expected to be completed on 12 January 2015.
There is no change to Mr Smithson’s total beneficial as a result of the transfers. His holding remains as 7,267,371 ordinary shares, representing 1.0% of the issued share capital of the Company.
The issued share capital of the Company comprises 723,567,568 Ordinary Shares of 1p each
********************
Full details from link below
http://stellar-diamonds.com/news/press/directors-dealing-4
banjomick
- 22 Jan 2015 07:54
- 30 of 144
22 January 2015
Stellar Diamonds plc
ISSUE OF EQUITY
Stellar Diamonds plc, the AIM quoted (AIM: STEL) diamond mining and exploration company focused on West Africa, announces that the Company has raised approximately £1 million through the issue of 88,362,066 new ordinary shares of 1p each (the "New Ordinary Shares") at 1.16p per share ("Issue Price") to directors, existing private shareholders and new institutional investors (the "Fundraising"). The Fundraising has been conducted in conjunction with Daniel Stewart & Company plc.
The proceeds of the Fundraising will be used predominantly for the current Trial Mining at the Company's Baoulé kimberlite project in Guinea and for working capital purposes.
Stellar Diamonds Chief Executive Karl Smithson commented:
"With revenues from our first diamond sale of a 5,900 carat parcel expected in the near-term this placement strengthens the Company's balance sheet at a time when capital markets in the junior sector are notoriously weak. It also underscores the support of our existing shareholders, most notably UBS Deutschland, and our directors, many of who are participating. We are also pleased to welcome new shareholders to the Company at this exciting juncture in our growth and development.
"Based on the current processing capacity and grades, we expect to continue to yield approximately 2,000 carats per month with regular diamond exports and sales expected during 2015.
"I look forward to providing further updates on production at Baoulé and our maiden diamond sale."
The Fundraising
The Fundraising has raised a total of £1,025,000 through the issue of 88,362,066 New Ordinary Shares at a price of 1.16 pence per New Ordinary Share. The New Ordinary Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Application will be made for admission to AIM of the New Ordinary Shares ("Admission"), which is expected to occur, and trading to commence at 8.00a.m. on 5 February 2015.
Total voting rights
Following Admission, the Company's total issued share capital will comprise of 811,929,724 ordinary shares of 1 pence each ("Issued Share Capital"). This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.
Substantial Shareholdings
UBS Deutschland ("UBS"), the Company's second largest shareholder, has subscribed for 62,400,000 of the New Ordinary Shares. Following Admission, UBS will hold 126,488,416 ordinary shares representing 15.58 per cent. of the Company's Issued Share Capital.
Director Participation
Certain directors of the Company have participated in the Fundraising at the Issue Price. Details of their participation and changes in holdings in the Company are set out in the table below. see link below for full details
http://www.moneyam.com/action/news/showArticle?id=4963012
Stellar Diamonds plc
ISSUE OF EQUITY
Stellar Diamonds plc, the AIM quoted (AIM: STEL) diamond mining and exploration company focused on West Africa, announces that the Company has raised approximately £1 million through the issue of 88,362,066 new ordinary shares of 1p each (the "New Ordinary Shares") at 1.16p per share ("Issue Price") to directors, existing private shareholders and new institutional investors (the "Fundraising"). The Fundraising has been conducted in conjunction with Daniel Stewart & Company plc.
The proceeds of the Fundraising will be used predominantly for the current Trial Mining at the Company's Baoulé kimberlite project in Guinea and for working capital purposes.
Stellar Diamonds Chief Executive Karl Smithson commented:
"With revenues from our first diamond sale of a 5,900 carat parcel expected in the near-term this placement strengthens the Company's balance sheet at a time when capital markets in the junior sector are notoriously weak. It also underscores the support of our existing shareholders, most notably UBS Deutschland, and our directors, many of who are participating. We are also pleased to welcome new shareholders to the Company at this exciting juncture in our growth and development.
"Based on the current processing capacity and grades, we expect to continue to yield approximately 2,000 carats per month with regular diamond exports and sales expected during 2015.
"I look forward to providing further updates on production at Baoulé and our maiden diamond sale."
The Fundraising
The Fundraising has raised a total of £1,025,000 through the issue of 88,362,066 New Ordinary Shares at a price of 1.16 pence per New Ordinary Share. The New Ordinary Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Application will be made for admission to AIM of the New Ordinary Shares ("Admission"), which is expected to occur, and trading to commence at 8.00a.m. on 5 February 2015.
Total voting rights
Following Admission, the Company's total issued share capital will comprise of 811,929,724 ordinary shares of 1 pence each ("Issued Share Capital"). This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.
Substantial Shareholdings
UBS Deutschland ("UBS"), the Company's second largest shareholder, has subscribed for 62,400,000 of the New Ordinary Shares. Following Admission, UBS will hold 126,488,416 ordinary shares representing 15.58 per cent. of the Company's Issued Share Capital.
Director Participation
Certain directors of the Company have participated in the Fundraising at the Issue Price. Details of their participation and changes in holdings in the Company are set out in the table below. see link below for full details
http://www.moneyam.com/action/news/showArticle?id=4963012
banjomick
- 22 Jan 2015 09:05
- 31 of 144
General sector news:
Falling oil prices good for diamonds – De Beers CEO
Posted on 22 January 2015
De Beers CEO Philippe Mellier says the declining oil price is expected to benefit the diamond business.
Ample opportunity for diamond industry
At a reception in Gaborone, Botswana, Mellier explained how the declining oil price is likely to boost the diamond markets of India and The USA, where the 2015 economic growth is now forecast to hit the 5.5 percent mark.
Diamonds were also expected to perform well in China consumption was being intensified in a bid to rebalance the economy.
“All of this shows that there’s ample opportunity for the diamond industry,” said Mellier.
Mellier showed how the project at Jwaneng would deliver 100 million more carats and South Africa’s underground project at Venetia 80 million additional carats.
Transparency
He emphasised how rigorous financial transparency had been introduced to prevent inventory being sold below true value under seasonal pressure. Another mechanism was the synthetic-detection technology which was being developed to expose the passing off of synthetics as real diamonds.
“We must also be acutely aware of the increasing challenges to consumer confidence presented by differing grading standards at the various grading laboratories.
“This issue has captured a lot of attention in recent months, especially with consumers in the US, and we must all display the leadership required to reassure the public that they can rely on the integrity of the diamond industry,” he urged.
Falling oil prices good for diamonds – De Beers CEO
Posted on 22 January 2015
De Beers CEO Philippe Mellier says the declining oil price is expected to benefit the diamond business.
Ample opportunity for diamond industry
At a reception in Gaborone, Botswana, Mellier explained how the declining oil price is likely to boost the diamond markets of India and The USA, where the 2015 economic growth is now forecast to hit the 5.5 percent mark.
Diamonds were also expected to perform well in China consumption was being intensified in a bid to rebalance the economy.
“All of this shows that there’s ample opportunity for the diamond industry,” said Mellier.
Mellier showed how the project at Jwaneng would deliver 100 million more carats and South Africa’s underground project at Venetia 80 million additional carats.
Transparency
He emphasised how rigorous financial transparency had been introduced to prevent inventory being sold below true value under seasonal pressure. Another mechanism was the synthetic-detection technology which was being developed to expose the passing off of synthetics as real diamonds.
“We must also be acutely aware of the increasing challenges to consumer confidence presented by differing grading standards at the various grading laboratories.
“This issue has captured a lot of attention in recent months, especially with consumers in the US, and we must all display the leadership required to reassure the public that they can rely on the integrity of the diamond industry,” he urged.
banjomick
- 23 Jan 2015 08:46
- 32 of 144
From yesterday:
Stellar Diamonds receives strong support from UBS Deutschland in share issue
By John Harrington
January 22 2015, 9:48am
Stellar Diamonds (LON:STEL) has raised in the region of £1mln through a placing of shares at 1.16p each.
The diamond mining and exploration company focused on West Africa said the funds from the share issue will mostly be used for the current trial mining at the company’s Baoulé kimberlite project in Guinea and for working capital purposes.
After issuing 88.36mln shares, the total number of Stellar shares in issue now totals 811.93mln.
"With revenues from our first diamond sale of a 5,900 carat parcel expected in the near-term this placement strengthens the company's balance sheet at a time when capital markets in the junior sector are notoriously weak,” said Stellar’s chief executive, Karl Smithson.
“It also underscores the support of our existing shareholders, most notably UBS Deutschland, and our directors, many of who are participating. We are also pleased to welcome new shareholders to the company at this exciting juncture in our growth and development,” Smithson said.
UBS Deutschland is the company’s second largest shareholder, and took 62.4mln of the newly issued shares, lifting its stake to 15.58%.
Lord Peter Daresbury, Steven Poulton, Luis da Silva and Markus Elsasser were the directors who subscribed for shares.
Taking the opportunity to give a quick operational update, Smithson said the company expects, based on the current processing capacity and grades, to continue to yield approximately 2,000 carats per month, and regular diamond exports and sales are expected during 2015.
"I look forward to providing further updates on production at Baoulé and our maiden diamond sale," Smithson said.
Stellar shares currently trade at 1.33p, up 8.2% on the day.
Stellar Diamonds receives strong support from UBS Deutschland in share issue
By John Harrington
January 22 2015, 9:48am
Stellar Diamonds (LON:STEL) has raised in the region of £1mln through a placing of shares at 1.16p each.
The diamond mining and exploration company focused on West Africa said the funds from the share issue will mostly be used for the current trial mining at the company’s Baoulé kimberlite project in Guinea and for working capital purposes.
After issuing 88.36mln shares, the total number of Stellar shares in issue now totals 811.93mln.
"With revenues from our first diamond sale of a 5,900 carat parcel expected in the near-term this placement strengthens the company's balance sheet at a time when capital markets in the junior sector are notoriously weak,” said Stellar’s chief executive, Karl Smithson.
“It also underscores the support of our existing shareholders, most notably UBS Deutschland, and our directors, many of who are participating. We are also pleased to welcome new shareholders to the company at this exciting juncture in our growth and development,” Smithson said.
UBS Deutschland is the company’s second largest shareholder, and took 62.4mln of the newly issued shares, lifting its stake to 15.58%.
Lord Peter Daresbury, Steven Poulton, Luis da Silva and Markus Elsasser were the directors who subscribed for shares.
Taking the opportunity to give a quick operational update, Smithson said the company expects, based on the current processing capacity and grades, to continue to yield approximately 2,000 carats per month, and regular diamond exports and sales are expected during 2015.
"I look forward to providing further updates on production at Baoulé and our maiden diamond sale," Smithson said.
Stellar shares currently trade at 1.33p, up 8.2% on the day.
banjomick
- 23 Jan 2015 15:40
- 33 of 144
Stellar Diamonds chief on latest fundraise
Published on 23 Jan 2015
Karl Smithson, the chief executive of Stellar Diamonds (LON:STEL), says there are bigger and better things to come from the group after the latest placing to raise £1 million.
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6 Month Chart
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4 Year Chart
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Published on 23 Jan 2015
Karl Smithson, the chief executive of Stellar Diamonds (LON:STEL), says there are bigger and better things to come from the group after the latest placing to raise £1 million.
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6 Month Chart
banjomick
- 26 Jan 2015 07:55
- 34 of 144
26 January 2015
Stellar Diamonds plc
Director's Dealing
Further to the announcement made on 8th January 2015 the Company was informed on 26 January 2015 that Karl Smithson, Chief Executive of the Company, on 23 January 2015 transferred 1,300,121 ordinary shares from a joint nominee account into his wife's personal ISA as follows:
see link at BOP
As a result of the transfer, Karl Smithson's total beneficial shareholding in the Company remains unchanged at 7,267,371 Ordinary Shares, representing 0.9% of the issued share capital of the Company.
The issued share capital of the Company comprises 811,929,724 Ordinary Shares of 1p each.
http://www.moneyam.com/action/news/showArticle?id=4964655
Stellar Diamonds plc
Director's Dealing
Further to the announcement made on 8th January 2015 the Company was informed on 26 January 2015 that Karl Smithson, Chief Executive of the Company, on 23 January 2015 transferred 1,300,121 ordinary shares from a joint nominee account into his wife's personal ISA as follows:
see link at BOP
As a result of the transfer, Karl Smithson's total beneficial shareholding in the Company remains unchanged at 7,267,371 Ordinary Shares, representing 0.9% of the issued share capital of the Company.
The issued share capital of the Company comprises 811,929,724 Ordinary Shares of 1p each.
http://www.moneyam.com/action/news/showArticle?id=4964655
banjomick
- 18 Feb 2015 07:55
- 35 of 144
18 February 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
ANNUAL REPORT AND UPDATE
Stellar Diamonds plc, the AIM quoted (AIM: STEL) diamond mining and exploration company focused on West Africa, announces that the Company's 2014 Annual Report can now be found on its website on the following link http://stellar-diamonds.com/investors/financial-statements.
The Company's updated presentation can also be found on the website on the following link http://stellar-diamonds.com/investors/presentations along with recent photographs from the Baoulé Kimberlite Pipe Project in Guinea where Trial Mining is currently taking place (http://stellar-diamonds.com/operations/photo-gallery/baoule).
The Company further reports that the first two small exports of the Baoulé diamond production, of approximately 2,350 carats, have now been prepared and are ready for sale. Though rough diamond prices have been soft since Q4-14, some producers have indicated that prices may now be stabilising. Stellar will now offer the Baoulé goods, as well as other diamond inventory from other projects of approximately 3,700 carats, for sale in Antwerp, which when sold will represent first revenues from the planned cycle of exports during 2015 from Baoulé.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=4979427
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
ANNUAL REPORT AND UPDATE
Stellar Diamonds plc, the AIM quoted (AIM: STEL) diamond mining and exploration company focused on West Africa, announces that the Company's 2014 Annual Report can now be found on its website on the following link http://stellar-diamonds.com/investors/financial-statements.
The Company's updated presentation can also be found on the website on the following link http://stellar-diamonds.com/investors/presentations along with recent photographs from the Baoulé Kimberlite Pipe Project in Guinea where Trial Mining is currently taking place (http://stellar-diamonds.com/operations/photo-gallery/baoule).
The Company further reports that the first two small exports of the Baoulé diamond production, of approximately 2,350 carats, have now been prepared and are ready for sale. Though rough diamond prices have been soft since Q4-14, some producers have indicated that prices may now be stabilising. Stellar will now offer the Baoulé goods, as well as other diamond inventory from other projects of approximately 3,700 carats, for sale in Antwerp, which when sold will represent first revenues from the planned cycle of exports during 2015 from Baoulé.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=4979427
banjomick
- 27 Feb 2015 07:50
- 36 of 144
27 February 2015
AIM: STEL
Stellar Diamonds plc
Diamond Tender
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces that its diamond tender of 6,031 carats has commenced in Antwerp. The tender is anticipated to run for two weeks after which final bids will be considered by the Company. Any interested and compliant qualified groups can arrange to view the goods via accessing the following links and contact details for Natural Diamond Corporation:
http://stellar-diamonds.com/wp-content/uploads/2015/02/Tender-client-form-Feb15.pdf
http://stellar-diamonds.com/wp-content/uploads/2015/02/Tender-announcement-Feb15.pdf
About Stellar Diamonds plc
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 a definitive feasibility study. 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.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=4984975
AIM: STEL
Stellar Diamonds plc
Diamond Tender
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces that its diamond tender of 6,031 carats has commenced in Antwerp. The tender is anticipated to run for two weeks after which final bids will be considered by the Company. Any interested and compliant qualified groups can arrange to view the goods via accessing the following links and contact details for Natural Diamond Corporation:
http://stellar-diamonds.com/wp-content/uploads/2015/02/Tender-client-form-Feb15.pdf
http://stellar-diamonds.com/wp-content/uploads/2015/02/Tender-announcement-Feb15.pdf
About Stellar Diamonds plc
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 a definitive feasibility study. 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.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=4984975
banjomick
- 27 Feb 2015 11:18
- 37 of 144
Stellar Diamonds kicks off auction in Antwerp; sells first stones from Baoulé mine
By Andrew Neil
February 27 2015
Stellar Diamonds (LON:STEL) has started to sell its first precious stones from its Baoulé mine in Guinea.
A diamond tender of 6,031 carats began in Antwerp this morning, the centre of the world diamond market.
In total, the auction consists of over 2,200 carats from Baoulé and 3,800 carats of inventory taken from other projects.
Viewing is expected to run for two weeks, after which the firm will consider final bids.
Stellar’s Tongo mine, in Sierra Leone, is currently going through the feasibility stage.
Together with Baoulé and resources at its other projects, the company wants to build a resource base of 7.5mln carats, which it estimates would have an in-situ value of US$1bn.
By Andrew Neil
February 27 2015
Stellar Diamonds (LON:STEL) has started to sell its first precious stones from its Baoulé mine in Guinea.
A diamond tender of 6,031 carats began in Antwerp this morning, the centre of the world diamond market.
In total, the auction consists of over 2,200 carats from Baoulé and 3,800 carats of inventory taken from other projects.
Viewing is expected to run for two weeks, after which the firm will consider final bids.
Stellar’s Tongo mine, in Sierra Leone, is currently going through the feasibility stage.
Together with Baoulé and resources at its other projects, the company wants to build a resource base of 7.5mln carats, which it estimates would have an in-situ value of US$1bn.
banjomick
- 16 Mar 2015 15:45
- 38 of 144
General interest:
World’s biggest diamond producers, trade leaders to shine at Dubai Diamond Conference
16/03/2015
Mining executives from De Beers Group, Alrosa and Endiama will deliver presentations at the second Dubai Diamond Conference (DDC) scheduled for April 21 to 22 at Almas Tower, the Middle East’s tallest commercial tower and home to the Dubai Diamond Exchange (DDE).
The two-day conference is organised by DDE, platform of the Dubai Multi Commodities Centre (DMCC).
The conference will see Paul Rowley, executive vice president of De Beers Group Sightholder Sales; Andrey Polyakov, vice president of Alrosa; and Carlos Sumbula, president of Endiama discuss the “New Silk Route,” and share their insights on the trading shift from the West to Africa and Asia, DDE said in a press release.
The three companies combined represent more than two-thirds of the world’s rough diamond output. Alrosa leads the world’s diamond mining by volume, De Beers by turnover and Endiama’s diamond deposits are among the most promising for future kimberlite discoveries.
Commenting on the conference, Rowley said, “The outlook for the diamond industry is bright, but this opportunity will only be fully realised if investments are made across the value chain. The Dubai Diamond Conference provides an ideal opportunity for industry stakeholders to discuss the challenges and opportunities across the diamond pipeline.”
The conference will also welcome diamond trade leaders namely Edward Asscher, president of the World Diamond Council; Ernie Blom, president of the World Federation of Diamond Bourses; Maxim Shkadov, president of the International Diamond Manufacturers Association.
“Dubai is an established part of the diamond community. The city has brought new energy to the industry and a much-needed gateway to the Middle Eastern retail market,” Asscher said. “I am looking forward to having an open discussion about the challenges of the diamond industry.”
Centred on the theme “The New Silk Route,” the Dubai Diamond Conference will bring together more than 500 stakeholders from the diamond industry including government ministers, regulators, policy advisors, jewellers and traders. Attendees will be able to discuss all the current hot topics of the industry.
Herman Van Rompuy, former President of the EU, will give the opening address.
Further details, including the registration form, can be found on http://www.diamondconference.ae/. Also, click here to watch the DDC 2015 promo video.
Dubai Diamond Conference 21 – 22 April, 2015
World’s biggest diamond producers, trade leaders to shine at Dubai Diamond Conference
16/03/2015
Mining executives from De Beers Group, Alrosa and Endiama will deliver presentations at the second Dubai Diamond Conference (DDC) scheduled for April 21 to 22 at Almas Tower, the Middle East’s tallest commercial tower and home to the Dubai Diamond Exchange (DDE).
The two-day conference is organised by DDE, platform of the Dubai Multi Commodities Centre (DMCC).
The conference will see Paul Rowley, executive vice president of De Beers Group Sightholder Sales; Andrey Polyakov, vice president of Alrosa; and Carlos Sumbula, president of Endiama discuss the “New Silk Route,” and share their insights on the trading shift from the West to Africa and Asia, DDE said in a press release.
The three companies combined represent more than two-thirds of the world’s rough diamond output. Alrosa leads the world’s diamond mining by volume, De Beers by turnover and Endiama’s diamond deposits are among the most promising for future kimberlite discoveries.
Commenting on the conference, Rowley said, “The outlook for the diamond industry is bright, but this opportunity will only be fully realised if investments are made across the value chain. The Dubai Diamond Conference provides an ideal opportunity for industry stakeholders to discuss the challenges and opportunities across the diamond pipeline.”
The conference will also welcome diamond trade leaders namely Edward Asscher, president of the World Diamond Council; Ernie Blom, president of the World Federation of Diamond Bourses; Maxim Shkadov, president of the International Diamond Manufacturers Association.
“Dubai is an established part of the diamond community. The city has brought new energy to the industry and a much-needed gateway to the Middle Eastern retail market,” Asscher said. “I am looking forward to having an open discussion about the challenges of the diamond industry.”
Centred on the theme “The New Silk Route,” the Dubai Diamond Conference will bring together more than 500 stakeholders from the diamond industry including government ministers, regulators, policy advisors, jewellers and traders. Attendees will be able to discuss all the current hot topics of the industry.
Herman Van Rompuy, former President of the EU, will give the opening address.
Further details, including the registration form, can be found on http://www.diamondconference.ae/. Also, click here to watch the DDC 2015 promo video.
Dubai Diamond Conference 21 – 22 April, 2015
banjomick
- 24 Mar 2015 07:52
- 39 of 144
24 March 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
First Diamond Sales and Revenues
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, is pleased to announce that it has sold 4,414 carats of diamonds in Antwerp for gross revenues of US$417,122. The sale included excellent quality white stones, with a value of US$5,000 per carat achieved for one particular five carat stone.
The Company withheld 1,617 carats from the sale as the bid prices were not considered acceptable. These goods will be added to future exports and be offered for sale at a later date.
The Company is pleased with the revenues generated from the sale in what remains a challenging market for rough diamonds. Future sales will be targeted for optimum selling windows with the next sale from Stellar's operations planned for May 2015. Further announcements will be made in due course as and when significant diamond exports or diamond sales occur.
About Stellar Diamonds plc
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 a definitive feasibility study. 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.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=5001157
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
First Diamond Sales and Revenues
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, is pleased to announce that it has sold 4,414 carats of diamonds in Antwerp for gross revenues of US$417,122. The sale included excellent quality white stones, with a value of US$5,000 per carat achieved for one particular five carat stone.
The Company withheld 1,617 carats from the sale as the bid prices were not considered acceptable. These goods will be added to future exports and be offered for sale at a later date.
The Company is pleased with the revenues generated from the sale in what remains a challenging market for rough diamonds. Future sales will be targeted for optimum selling windows with the next sale from Stellar's operations planned for May 2015. Further announcements will be made in due course as and when significant diamond exports or diamond sales occur.
About Stellar Diamonds plc
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 a definitive feasibility study. 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.
** ENDS **
http://www.moneyam.com/action/news/showArticle?id=5001157
banjomick
- 24 Mar 2015 15:09
- 40 of 144
Stellar Diamonds chief pleased with maiden sale (+ Interview)
By Juliet Mann
March 24 2015, 1:42pm
Karl Smithson, chief executive of Stellar Diamonds (LON:STEL), says he is pleased with the results of its first diamond sale, which generated revenues of US$417,000.
The group sold a total of 4,414 carats, with a further 1,617 carats held back to be re-sold at a later date.
Smithson says the balance sheet remains strong thanks to regular diamond sales and the recent placing. He also tells investors to expect an update from the Tongo project in Sierra Leone in the coming months.
By Juliet Mann
March 24 2015, 1:42pm
Karl Smithson, chief executive of Stellar Diamonds (LON:STEL), says he is pleased with the results of its first diamond sale, which generated revenues of US$417,000.
The group sold a total of 4,414 carats, with a further 1,617 carats held back to be re-sold at a later date.
Smithson says the balance sheet remains strong thanks to regular diamond sales and the recent placing. He also tells investors to expect an update from the Tongo project in Sierra Leone in the coming months.
banjomick
- 27 Mar 2015 07:58
- 41 of 144
27 March 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Interim Results for the six months to 31 December 2014
Stellar Diamonds plc, the AIM listed (AIM: STEL) diamond development company focused on West Africa, announces its unaudited interim results for the six months to 31 December 2014.
Operational Highlights
Baoulé Kimberlite Pipe Project, Guinea ("Baoulé"):
o Trial mining commenced on schedule and on budget in October 2014
o Trial mining has reached target capacity of 50 tonnes per hour processed
o Gem quality diamonds up to 9 carats in size recovered and first exports achieved
o Maiden sales and gross revenues totalling US$417,122 from 4,414 carats post-period (including goods from other Stellar projects)
o Further diamond exports and sales expected in 2015
Tongo Kimberlite Dyke-1 Project, Sierra Leone ("Tongo"):
o Bulk sampling programme completed generating a diamond parcel of 1,182 carats
o 35% increase in inferred diamond resource to 1.45 million carats
o 37% increase in average diamond grade to 165cpht, based on bulk sampling data
o 42% increase in the scoping study NPV10 to US$75m for surface and underground mine
Financial Highlights:
o US$0.9m invested to build and commission the Baoulé trial mining operation
o Administrative costs reduced significantly to US$0.9m during the 6 month period (H2-13: US$1.5m)
o Cash and diamonds held for sale of US$0.5m at period end
o US$1.05m of funding in the period through the issue of equity and credit
o Further US$1.55m raised post period through the issue of equity in January 2015
Stellar Diamonds Chief Executive Karl Smithson commented, "Stellar has made significant progress at both Baoulé in Guinea and Tongo in Sierra Leone during the report period. Bringing Baoulé into trial mining production during the Ebola crisis was a remarkable achievement and it is pleasing to see our first export and sales cycle being successfully completed. Processing to date has yielded over 4,100 carats at a grade of over 13cpht. We expect to continue the trial mining with an objective of at least 100,000 tonnes being processed in aggregate to establish the grade and value of the pipe with confidence, but importantly to recover some large, high value diamonds that the Aredor area of Guinea is world renowned for.
"At Tongo we also successfully completed our bulk sampling programme despite the Ebola outbreak. As a result the inferred diamond resource for Dyke-1 was increased to 1.45 million carats with increasing grade and diamond values. A surface mining study has also been completed, which identified a technique that is expected to allow us to mine from surface for three years whilst underground mine development is completed. This positively impacts on expected project economics and we intend to conduct an updated preliminary economic assessment which should justify the decision to apply for a mine lease for the project during 2015."
Chairman's Statement
Excellent progress has been made across our two core diamond projects in Guinea and Sierra Leone over the period. This has resulted in our maiden diamond sale and first revenues from Baoulé in Guinea, and an improved inferred resource, grade, and expected faster route to production at Tongo in Sierra Leone. These significant advances take us ever closer to our strategy of early production and targeting a future aggregate resource base of approximately 8 million carats across our diamond portfolio.
Baoulé Project, Guinea
Despite the backdrop of the Ebola virus and rainy season our team on the ground successfully established the trial mining operation at the 5 hectare Baoulé kimberlite pipe. Construction and commissioning of the 100tph Dense Media Separation ("DMS") plant was achieved on time and on budget in September 2014 with the first trial mining diamonds being recovered in October 2014. We have already recovered some impressive gem quality diamonds and we remain optimistic about the potential of the Baoulé pipe to yield large, high value stones. The pipe is located in the world renowned Aredor District of Guinea, where diamonds of up to 283 carats have been recovered from alluvial mining in the past and we believe Baoulé has the potential to be a "company-maker" for Stellar.
The DMS plant has reached its target capacity of processing approximately 50 tonnes of kimberlite per hour on average. At the time of writing trial mining has yielded over 4,100 carats at an average grade of 13.4cpht at a 1.25mm cut off. During recent mining the grade decreased slightly from the average of 15cpht as we encountered a lower grade breccia area towards the margin of the pipe mining and sought to extend the pit area in order to maximize access to the higher grade kimberlite which comprises the bulk of the pipe. We continue to target processing of at least 100,000 tonnes of kimberlite, which at an average target grade of 15cpht would be expected to yield at least 15,000 carats for grade and value determination.
Two diamond exports to Antwerp have been made to date; the first parcel delivered in December 2014 contained 941 carats and a second containing 1,250 carats was added to it in January 2015. The Baoulé diamonds were combined with 3,700 carats recovered from bulk sampling at our other projects and collectively tendered for sale in Antwerp in March 2015. This tender generated maiden diamond sales of 4,414 carats, making gross revenues of US$417,122. This is a major milestone for Stellar, bringing us our first cash flows of 2015. Notably, one of the five carat stones sold achieved a value of US$5,000 per carat, which the Directors believe underpins the quality of the diamonds in the Baoulé pipe which, if realised in still larger sizes, will enhance the diamond value and revenues of future sales.
The objective of trial mining at Baoulé is not only to create near-term cash flow but also to generate a sufficiently large diamond resource to justify a full scale commercial mining operation. In-house modelling of previous drilling over the pipe suggests a target of over 22 million tonnes to a depth of 300m. At an average target grade of 15cpht, this would suggest a diamond resource of 3.3 million carats. This is not a resource estimate or in accordance with the JORC Code.
Tongo Dyke-1 Project, Sierra Leone
Bulk sampling of the high-grade Dyke-1 was completed in the reporting period and generated a diamond parcel of 1,182 carats of which a large portion was categorised as gem quality, including a 6.7 carat stone. A revised resource statement was subsequently commissioned and this has resulted in a 35% increase in the JORC compliant inferred resource to 1.45 million carats and a 37% increase in the average diamond grade to 165cpht, using the higher grade established by the Company based on the results of bulk sampling. Diamond value modelling was also undertaken with two models being presented, one with a grade of 120cpht and diamond value of US$270 per carat and another with a grade of 165cpht and US$145 per carat. We conservatively use the lower grade model for all our financial modelling.
Further resource potential exists from the remaining three kimberlite dykes at Tongo. This includes Dyke-4 which has previously been bulk sampled by the Company, generating a diamond grade of 110cpht at an average diamond value of US$140 per carat. Dykes 2 and 3 have not been bulk sampled but microdiamond analysis indicates grades of 140cpht and 185cpht respectively for these kimberlites.
In line with delivering value for our shareholders, just as we found a route to early cash-flow at Baoulé, we intend to follow suit with a similar solution for Tongo. An independent surface mining study was carried out which has revealed that we can target accelerated cash-flow by mining Dyke-1 from surface concurrently with underground mine development, to generate cash-flow earlier than a stand-alone underground mine would. The surface mining is modelled to last for three years and potentially generate 120,000 carats, (assuming that average production rates and indicative grades achieved to date continue) after which underground mining is expected to commence to provide a seamless transition of production from surface to underground. The underground mining is modelled to continue to year 16 and generate almost 1 million carats over that time.
The inclusion of surface mining should significantly enhance Tongo's potential economics by bringing forward cash flows when compared to just an underground mining operation. The previously modelled NPV10 was re-calculated on this basis and shows an increase of 42% to US$75 million with a pre-tax IRR of 55%, using a diamond grade of 120cpht and value of US$270 per carat.
To bring Dyke-1 into production, the initial capex cost for the first three years has been independently estimated at US$16 million for both the surface and underground mining. However, as part of the project development process the Company will now re-engage with independent consultants to provide a single and updated preliminary economic assessment document as an alternative to a more expensive and time consuming definitive feasibility study which can be utilised for a future mine lease application with the Government of Sierra Leone.
Other Projects
As per my year-end statement, our two additional projects in Guinea remain on care and maintenance whilst we focus on delivering value at Baoulé and Tongo. That said, they should not be forgotten, as the high grade Droujba project adds 3.1 million carats to our resource inventory and it is estimated that 200,000 carats remain within the resource at the Mandala alluvial mine, where we have previously yielded 128,000 carats from mining at a grade of 33cpht with gems of up to 37 carats in size.
The process of reinstating our wrongly expropriated Kono licences is ongoing. It is hoped that a positive outcome will be achieved in the near future.
Corporate
In order to enhance the mining fleet on the newly operating Baoulé trial mining project we purchased a number of earth moving vehicles from our major shareholder, Foradex, on an arms-length basis, in return for the issue of 25,560,016 ordinary shares at a price of 1.55p and 12,780,008 warrants exercisable at the same price, thus conserving the Company's cash. We intend to ship these machines to Guinea and transport them to Baoulé in the near future.
In December 2014 we were also able to secure bridge financing of US$0.5m to provide working capital for the Baoulé project as we approached the first export of diamonds. Post-period, in January 2015, we raised further working capital of US$1.55m through the issue of 88,362,066 ordinary shares of 1p at a price of 1.16p per share to allow flexibility in the timing of our diamond tender in the first quarter of 2015 and to strengthen the Company's balance sheet. The placing was undertaken through existing and new institutional shareholders and shows continued strong support from our board and shareholder base.
We have continued to scrutinise our cost base to ensure that the maximum amount of funding is available for the projects on the ground and we are pleased to note the continued reduction on corporate and administrative spending during the period.
Diamond Market
The rough diamond market weakened during the latter part of 2014 and further weakened in the first quarter of 2015, meaning prices declined in some categories by as much as 15-20% compared to the summer of 2014. We believe this decline was a direct result of a lack of liquidity in the financing of diamond buying and a build-up of polished inventory. This will take some time to work out of the market but some stability seems to have reached the rough market prices and although not guaranteed, the second half of 2015 may see pricing improvements. Importantly, the longer term fundamental outlook remains positive for the diamond market as the declining supply will fail to meet the projected increasing demand.
Outlook
We are making great strides in advancing our key diamond projects which have multi-million carat potential towards production. Having created a defined path to trial mining with cash-flow being realised from diamond sales at Baoulé and with a compelling route to mine development which should achieve early cash flow identified at Tongo, this is an exciting time for Stellar.
Looking ahead, we remain committed to ensuring further cash flow from diamond exports and sales from Baoulé in 2015. At Tongo we intend to commence the process of applying for a mining licence with the authorities in Sierra Leone. This process will include conducting an environmental impact assessment and the updating and combining of existing technical and mining reports in order to support the mine lease application. Naturally for this process further funding will be required with the objective of raising up to US$20 million in aggregate to fund both the mining licence application and the Tongo mine development (with the majority of such fundraise expected to be subject to receipt of a mining licence). We will be considering the optimum ways of achieving this with the focus being on securing funding via non-dilutive project debt structures and we will report on the process we are to follow in due course.
I would like to take this opportunity to thank my fellow Board members and team on the ground for their outstanding commitment and efforts in continuing to deliver on the tremendous value Stellar has to offer. In addition, I am hugely grateful for our highly supportive shareholder base and I look forward to the year ahead as we aim to further unlock the value of our West African portfolio on our route to commercial diamond production.
Lord Daresbury
Non-Executive Chairman
For full details click link below:
http://www.moneyam.com/action/news/showArticle?id=5004088
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Interim Results for the six months to 31 December 2014
Stellar Diamonds plc, the AIM listed (AIM: STEL) diamond development company focused on West Africa, announces its unaudited interim results for the six months to 31 December 2014.
Operational Highlights
Baoulé Kimberlite Pipe Project, Guinea ("Baoulé"):
o Trial mining commenced on schedule and on budget in October 2014
o Trial mining has reached target capacity of 50 tonnes per hour processed
o Gem quality diamonds up to 9 carats in size recovered and first exports achieved
o Maiden sales and gross revenues totalling US$417,122 from 4,414 carats post-period (including goods from other Stellar projects)
o Further diamond exports and sales expected in 2015
Tongo Kimberlite Dyke-1 Project, Sierra Leone ("Tongo"):
o Bulk sampling programme completed generating a diamond parcel of 1,182 carats
o 35% increase in inferred diamond resource to 1.45 million carats
o 37% increase in average diamond grade to 165cpht, based on bulk sampling data
o 42% increase in the scoping study NPV10 to US$75m for surface and underground mine
Financial Highlights:
o US$0.9m invested to build and commission the Baoulé trial mining operation
o Administrative costs reduced significantly to US$0.9m during the 6 month period (H2-13: US$1.5m)
o Cash and diamonds held for sale of US$0.5m at period end
o US$1.05m of funding in the period through the issue of equity and credit
o Further US$1.55m raised post period through the issue of equity in January 2015
Stellar Diamonds Chief Executive Karl Smithson commented, "Stellar has made significant progress at both Baoulé in Guinea and Tongo in Sierra Leone during the report period. Bringing Baoulé into trial mining production during the Ebola crisis was a remarkable achievement and it is pleasing to see our first export and sales cycle being successfully completed. Processing to date has yielded over 4,100 carats at a grade of over 13cpht. We expect to continue the trial mining with an objective of at least 100,000 tonnes being processed in aggregate to establish the grade and value of the pipe with confidence, but importantly to recover some large, high value diamonds that the Aredor area of Guinea is world renowned for.
"At Tongo we also successfully completed our bulk sampling programme despite the Ebola outbreak. As a result the inferred diamond resource for Dyke-1 was increased to 1.45 million carats with increasing grade and diamond values. A surface mining study has also been completed, which identified a technique that is expected to allow us to mine from surface for three years whilst underground mine development is completed. This positively impacts on expected project economics and we intend to conduct an updated preliminary economic assessment which should justify the decision to apply for a mine lease for the project during 2015."
Chairman's Statement
Excellent progress has been made across our two core diamond projects in Guinea and Sierra Leone over the period. This has resulted in our maiden diamond sale and first revenues from Baoulé in Guinea, and an improved inferred resource, grade, and expected faster route to production at Tongo in Sierra Leone. These significant advances take us ever closer to our strategy of early production and targeting a future aggregate resource base of approximately 8 million carats across our diamond portfolio.
Baoulé Project, Guinea
Despite the backdrop of the Ebola virus and rainy season our team on the ground successfully established the trial mining operation at the 5 hectare Baoulé kimberlite pipe. Construction and commissioning of the 100tph Dense Media Separation ("DMS") plant was achieved on time and on budget in September 2014 with the first trial mining diamonds being recovered in October 2014. We have already recovered some impressive gem quality diamonds and we remain optimistic about the potential of the Baoulé pipe to yield large, high value stones. The pipe is located in the world renowned Aredor District of Guinea, where diamonds of up to 283 carats have been recovered from alluvial mining in the past and we believe Baoulé has the potential to be a "company-maker" for Stellar.
The DMS plant has reached its target capacity of processing approximately 50 tonnes of kimberlite per hour on average. At the time of writing trial mining has yielded over 4,100 carats at an average grade of 13.4cpht at a 1.25mm cut off. During recent mining the grade decreased slightly from the average of 15cpht as we encountered a lower grade breccia area towards the margin of the pipe mining and sought to extend the pit area in order to maximize access to the higher grade kimberlite which comprises the bulk of the pipe. We continue to target processing of at least 100,000 tonnes of kimberlite, which at an average target grade of 15cpht would be expected to yield at least 15,000 carats for grade and value determination.
Two diamond exports to Antwerp have been made to date; the first parcel delivered in December 2014 contained 941 carats and a second containing 1,250 carats was added to it in January 2015. The Baoulé diamonds were combined with 3,700 carats recovered from bulk sampling at our other projects and collectively tendered for sale in Antwerp in March 2015. This tender generated maiden diamond sales of 4,414 carats, making gross revenues of US$417,122. This is a major milestone for Stellar, bringing us our first cash flows of 2015. Notably, one of the five carat stones sold achieved a value of US$5,000 per carat, which the Directors believe underpins the quality of the diamonds in the Baoulé pipe which, if realised in still larger sizes, will enhance the diamond value and revenues of future sales.
The objective of trial mining at Baoulé is not only to create near-term cash flow but also to generate a sufficiently large diamond resource to justify a full scale commercial mining operation. In-house modelling of previous drilling over the pipe suggests a target of over 22 million tonnes to a depth of 300m. At an average target grade of 15cpht, this would suggest a diamond resource of 3.3 million carats. This is not a resource estimate or in accordance with the JORC Code.
Tongo Dyke-1 Project, Sierra Leone
Bulk sampling of the high-grade Dyke-1 was completed in the reporting period and generated a diamond parcel of 1,182 carats of which a large portion was categorised as gem quality, including a 6.7 carat stone. A revised resource statement was subsequently commissioned and this has resulted in a 35% increase in the JORC compliant inferred resource to 1.45 million carats and a 37% increase in the average diamond grade to 165cpht, using the higher grade established by the Company based on the results of bulk sampling. Diamond value modelling was also undertaken with two models being presented, one with a grade of 120cpht and diamond value of US$270 per carat and another with a grade of 165cpht and US$145 per carat. We conservatively use the lower grade model for all our financial modelling.
Further resource potential exists from the remaining three kimberlite dykes at Tongo. This includes Dyke-4 which has previously been bulk sampled by the Company, generating a diamond grade of 110cpht at an average diamond value of US$140 per carat. Dykes 2 and 3 have not been bulk sampled but microdiamond analysis indicates grades of 140cpht and 185cpht respectively for these kimberlites.
In line with delivering value for our shareholders, just as we found a route to early cash-flow at Baoulé, we intend to follow suit with a similar solution for Tongo. An independent surface mining study was carried out which has revealed that we can target accelerated cash-flow by mining Dyke-1 from surface concurrently with underground mine development, to generate cash-flow earlier than a stand-alone underground mine would. The surface mining is modelled to last for three years and potentially generate 120,000 carats, (assuming that average production rates and indicative grades achieved to date continue) after which underground mining is expected to commence to provide a seamless transition of production from surface to underground. The underground mining is modelled to continue to year 16 and generate almost 1 million carats over that time.
The inclusion of surface mining should significantly enhance Tongo's potential economics by bringing forward cash flows when compared to just an underground mining operation. The previously modelled NPV10 was re-calculated on this basis and shows an increase of 42% to US$75 million with a pre-tax IRR of 55%, using a diamond grade of 120cpht and value of US$270 per carat.
To bring Dyke-1 into production, the initial capex cost for the first three years has been independently estimated at US$16 million for both the surface and underground mining. However, as part of the project development process the Company will now re-engage with independent consultants to provide a single and updated preliminary economic assessment document as an alternative to a more expensive and time consuming definitive feasibility study which can be utilised for a future mine lease application with the Government of Sierra Leone.
Other Projects
As per my year-end statement, our two additional projects in Guinea remain on care and maintenance whilst we focus on delivering value at Baoulé and Tongo. That said, they should not be forgotten, as the high grade Droujba project adds 3.1 million carats to our resource inventory and it is estimated that 200,000 carats remain within the resource at the Mandala alluvial mine, where we have previously yielded 128,000 carats from mining at a grade of 33cpht with gems of up to 37 carats in size.
The process of reinstating our wrongly expropriated Kono licences is ongoing. It is hoped that a positive outcome will be achieved in the near future.
Corporate
In order to enhance the mining fleet on the newly operating Baoulé trial mining project we purchased a number of earth moving vehicles from our major shareholder, Foradex, on an arms-length basis, in return for the issue of 25,560,016 ordinary shares at a price of 1.55p and 12,780,008 warrants exercisable at the same price, thus conserving the Company's cash. We intend to ship these machines to Guinea and transport them to Baoulé in the near future.
In December 2014 we were also able to secure bridge financing of US$0.5m to provide working capital for the Baoulé project as we approached the first export of diamonds. Post-period, in January 2015, we raised further working capital of US$1.55m through the issue of 88,362,066 ordinary shares of 1p at a price of 1.16p per share to allow flexibility in the timing of our diamond tender in the first quarter of 2015 and to strengthen the Company's balance sheet. The placing was undertaken through existing and new institutional shareholders and shows continued strong support from our board and shareholder base.
We have continued to scrutinise our cost base to ensure that the maximum amount of funding is available for the projects on the ground and we are pleased to note the continued reduction on corporate and administrative spending during the period.
Diamond Market
The rough diamond market weakened during the latter part of 2014 and further weakened in the first quarter of 2015, meaning prices declined in some categories by as much as 15-20% compared to the summer of 2014. We believe this decline was a direct result of a lack of liquidity in the financing of diamond buying and a build-up of polished inventory. This will take some time to work out of the market but some stability seems to have reached the rough market prices and although not guaranteed, the second half of 2015 may see pricing improvements. Importantly, the longer term fundamental outlook remains positive for the diamond market as the declining supply will fail to meet the projected increasing demand.
Outlook
We are making great strides in advancing our key diamond projects which have multi-million carat potential towards production. Having created a defined path to trial mining with cash-flow being realised from diamond sales at Baoulé and with a compelling route to mine development which should achieve early cash flow identified at Tongo, this is an exciting time for Stellar.
Looking ahead, we remain committed to ensuring further cash flow from diamond exports and sales from Baoulé in 2015. At Tongo we intend to commence the process of applying for a mining licence with the authorities in Sierra Leone. This process will include conducting an environmental impact assessment and the updating and combining of existing technical and mining reports in order to support the mine lease application. Naturally for this process further funding will be required with the objective of raising up to US$20 million in aggregate to fund both the mining licence application and the Tongo mine development (with the majority of such fundraise expected to be subject to receipt of a mining licence). We will be considering the optimum ways of achieving this with the focus being on securing funding via non-dilutive project debt structures and we will report on the process we are to follow in due course.
I would like to take this opportunity to thank my fellow Board members and team on the ground for their outstanding commitment and efforts in continuing to deliver on the tremendous value Stellar has to offer. In addition, I am hugely grateful for our highly supportive shareholder base and I look forward to the year ahead as we aim to further unlock the value of our West African portfolio on our route to commercial diamond production.
Lord Daresbury
Non-Executive Chairman
For full details click link below:
http://www.moneyam.com/action/news/showArticle?id=5004088
banjomick
- 27 Mar 2015 09:59
- 42 of 144
Stellar Diamonds Interim Loss Narrows, Looking To Raise USD20 Million
Alliance News 27 March, 2015 | 8:40AM
LONDON (Alliance News) - Stellar Diamonds PLC Friday said its pretax loss narrowed in the first half of the year as costs fell but said it needs to raise a further USD20 million to progress the Tongo project in 2015.
The West African diamond miner reported a pretax loss of USD934,928 for the six months ended December 31, narrower than the USD1.5 million reported a year earlier, as administrative expenses fell. The company does not currently generate any revenue.
The company is advancing two diamond projects into production with a focus on imminent trial mining at Baoulé to generate early cash flow.
"We are making great strides in advancing our key diamond projects which have multi-million carat potential towards production. Having created a defined path to trial mining with cash-flow being realised from diamond sales at Baoulé and with a compelling route to mine development which should achieve early cash flow identified at Tongo, this is an exciting time for Stellar," it said.
For 2015, the company said it "remains committed" to ensuring further cash flow from diamond exports and sales from Baoulé and said it will apply for a mining license for the Tongo project, which will include conducting an environmental impact assessment and the updating and combining of existing technical and mining reports in order to support the mine lease application.
"Naturally for this process further funding will be required with the objective of raising up to USD20 million in aggregate to fund both the mining licence application and the Tongo mine development. We will be considering the optimum ways of achieving this with the focus being on securing funding via non-dilutive project debt structures," said Stellar in a statement.
Stellar Diamond shares were down 0.1% to 0.899 pence per share on Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Alliance News 27 March, 2015 | 8:40AM
LONDON (Alliance News) - Stellar Diamonds PLC Friday said its pretax loss narrowed in the first half of the year as costs fell but said it needs to raise a further USD20 million to progress the Tongo project in 2015.
The West African diamond miner reported a pretax loss of USD934,928 for the six months ended December 31, narrower than the USD1.5 million reported a year earlier, as administrative expenses fell. The company does not currently generate any revenue.
The company is advancing two diamond projects into production with a focus on imminent trial mining at Baoulé to generate early cash flow.
"We are making great strides in advancing our key diamond projects which have multi-million carat potential towards production. Having created a defined path to trial mining with cash-flow being realised from diamond sales at Baoulé and with a compelling route to mine development which should achieve early cash flow identified at Tongo, this is an exciting time for Stellar," it said.
For 2015, the company said it "remains committed" to ensuring further cash flow from diamond exports and sales from Baoulé and said it will apply for a mining license for the Tongo project, which will include conducting an environmental impact assessment and the updating and combining of existing technical and mining reports in order to support the mine lease application.
"Naturally for this process further funding will be required with the objective of raising up to USD20 million in aggregate to fund both the mining licence application and the Tongo mine development. We will be considering the optimum ways of achieving this with the focus being on securing funding via non-dilutive project debt structures," said Stellar in a statement.
Stellar Diamond shares were down 0.1% to 0.899 pence per share on Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
banjomick
- 28 Mar 2015 12:19
- 43 of 144
Proactive weekly mining news summary - Rare Earth Minerals, Xtract Resources, Stellar Diamonds and Jubilee Platinum
By Giles Gwinnett
March 28 2015, 8:30am
Elsewhere, Stellar Diamonds (LON:STEL) expects to raise US$20mln in additional funding when it makes its licence application at Tongo.
Karl Smithson, chief executive, said the firm wants the funding to come from non-dilutive project debt structures.
Bulk sampling has been completed at the project in Sierra Leone, which has an inferred resource of 1.45 mln carats, despite the Ebola crisis.
Smithson said: “A surface mining study has also been completed, which identified a technique that is expected to allow us to mine from surface for three years whilst underground mine development is completed.
By Giles Gwinnett
March 28 2015, 8:30am
Elsewhere, Stellar Diamonds (LON:STEL) expects to raise US$20mln in additional funding when it makes its licence application at Tongo.
Karl Smithson, chief executive, said the firm wants the funding to come from non-dilutive project debt structures.
Bulk sampling has been completed at the project in Sierra Leone, which has an inferred resource of 1.45 mln carats, despite the Ebola crisis.
Smithson said: “A surface mining study has also been completed, which identified a technique that is expected to allow us to mine from surface for three years whilst underground mine development is completed.
banjomick
- 01 Apr 2015 07:56
- 44 of 144
1 April 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Application for Mining Licence at Tongo Kimberlite Project, Sierra Leone
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces that it has commenced the application process for a mining licence at its 100% owned 1.45 million carat Tongo Dyke-1 kimberlite project in eastern Sierra Leone ("Tongo"). This is as a result of the Company's decision to fast-track Tongo to production following recent positive resource definition work, mining studies and financial modelling undertaken by Paradigm Project Management ("PPM").
Highlights:
· Acceleration of the Tongo project, saving shareholder funds and reducing the time to production
· PPM to consolidate and update all previous technical reporting into a single Preliminary Economic Assessment ("PEA")
· Attractive economics for surface mining concurrent with underground mine development
· Estimated pre-tax NPV(10) and IRR of US$75 million and 55% respectively (120cpht and US$270/ct)
· Significant potential NPV and IRR upside using higher resource grade of 165cpht and US$270/ct
· Target of 120,000 carats production via surface mining in first 3 years
· Target of over 1 million carats mined in estimated 16 year mine life
· Low capital expenditure estimated at US$20 million to bring mine into production
· Funding primarily by debt structures being targeted
· Favourable response received from Sierra Leone stakeholders for decision to accelerate Tongo towards mine development
Chief Executive Karl Smithson commented:
"Moving Tongo to the mining licence application stage is a major milestone for the project. Having recently defined a faster route to production cash flow by the assessment of surface mining studies and based on the extensive resource and financial modelling completed to date, Tongo has clear economic potential. The application for a mining licence will be accompanied by updated mining and financial reports under a Preliminary Economic Assessment instead of a previously planned Definitive Feasibility Study in order to cut costs and seek to fast-track Tongo to production. Simultaneous to this we intend to establish a suitable financing structure to access debt funding for the majority of the US$20 million of capital expenditure which is estimated to be required to bring the project into production.
"We are delighted at the positive response received from various stakeholders within Sierra Leone. There is a clear will to support our efforts to build the next diamond mine in Sierra Leone, which can offer a significant and positive contribution to the post-Ebola social and economic reconstruction. We look forward to the full support of the Sierra Leonean Government in assisting our efforts."
More from link below:
http://www.moneyam.com/action/news/showArticle?id=5007701
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Application for Mining Licence at Tongo Kimberlite Project, Sierra Leone
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces that it has commenced the application process for a mining licence at its 100% owned 1.45 million carat Tongo Dyke-1 kimberlite project in eastern Sierra Leone ("Tongo"). This is as a result of the Company's decision to fast-track Tongo to production following recent positive resource definition work, mining studies and financial modelling undertaken by Paradigm Project Management ("PPM").
Highlights:
· Acceleration of the Tongo project, saving shareholder funds and reducing the time to production
· PPM to consolidate and update all previous technical reporting into a single Preliminary Economic Assessment ("PEA")
· Attractive economics for surface mining concurrent with underground mine development
· Estimated pre-tax NPV(10) and IRR of US$75 million and 55% respectively (120cpht and US$270/ct)
· Significant potential NPV and IRR upside using higher resource grade of 165cpht and US$270/ct
· Target of 120,000 carats production via surface mining in first 3 years
· Target of over 1 million carats mined in estimated 16 year mine life
· Low capital expenditure estimated at US$20 million to bring mine into production
· Funding primarily by debt structures being targeted
· Favourable response received from Sierra Leone stakeholders for decision to accelerate Tongo towards mine development
Chief Executive Karl Smithson commented:
"Moving Tongo to the mining licence application stage is a major milestone for the project. Having recently defined a faster route to production cash flow by the assessment of surface mining studies and based on the extensive resource and financial modelling completed to date, Tongo has clear economic potential. The application for a mining licence will be accompanied by updated mining and financial reports under a Preliminary Economic Assessment instead of a previously planned Definitive Feasibility Study in order to cut costs and seek to fast-track Tongo to production. Simultaneous to this we intend to establish a suitable financing structure to access debt funding for the majority of the US$20 million of capital expenditure which is estimated to be required to bring the project into production.
"We are delighted at the positive response received from various stakeholders within Sierra Leone. There is a clear will to support our efforts to build the next diamond mine in Sierra Leone, which can offer a significant and positive contribution to the post-Ebola social and economic reconstruction. We look forward to the full support of the Sierra Leonean Government in assisting our efforts."
More from link below:
http://www.moneyam.com/action/news/showArticle?id=5007701
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