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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!
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
banjomick
- 01 Apr 2015 18:15
- 45 of 144
UPDATE - Stellar Diamonds lodges application as it fleshes out Tongo fast track plan
By Philip Whiterow
April 01 2015, 12:44pm
--- ADDS SHARE PRICE AND BROKER COMMENT---
Stellar Diamonds (LON:STEL) has lodged its application for a mining licence at the Tongo Dyke-1 kimberlite project in eastern Sierra Leone as part of its new fast-track plan.
All of the data compiled so far on the 1.45mln carat deposit will also be pulled together for a preliminary economic assessment. This will be instead of a previously planned definitive feasibility study and will cut costs.
Tongo has a net present value (NPV) on current estimates on US$75mln assuming an average 120cpht [carats per hundred tons] and US$270/ct [per carat] price.
Stellar expects to increase that NPV value by targeting higher grade stones at an average 165cpht, with an initial target of 120,000 carats production through surface mining during the first three years.
It will cost US$20mln to bring the mine into production, to be funded by debt, with a target over the total life of mine of one million carats over 16 years.
Karl Smithson, chief executive, said: "Moving Tongo to the mining licence application stage is a major milestone for the project.
“Simultaneous to this we intend to establish a suitable financing structure to access debt funding for the majority of the US$20mln 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."
Sanlam keeps its 'speculative buy' unchanged on the shares, targeting 1.86p.
"We believe that the Tongo and Baoule projects merit development (Baoule dependent on stone value) but are concerned about recommending a stock that needs equity in the current soft funding environment (for junior miners)," said analyst Charlie Long.
He added that Stellar's debt approach would minimse the dilution if successful, so long as the cost is not too high.
"Presumably a project level investor is also a possibility," added the analyst.
Stellar shares were unchanged at 0.85p.
By Philip Whiterow
April 01 2015, 12:44pm
--- ADDS SHARE PRICE AND BROKER COMMENT---
Stellar Diamonds (LON:STEL) has lodged its application for a mining licence at the Tongo Dyke-1 kimberlite project in eastern Sierra Leone as part of its new fast-track plan.
All of the data compiled so far on the 1.45mln carat deposit will also be pulled together for a preliminary economic assessment. This will be instead of a previously planned definitive feasibility study and will cut costs.
Tongo has a net present value (NPV) on current estimates on US$75mln assuming an average 120cpht [carats per hundred tons] and US$270/ct [per carat] price.
Stellar expects to increase that NPV value by targeting higher grade stones at an average 165cpht, with an initial target of 120,000 carats production through surface mining during the first three years.
It will cost US$20mln to bring the mine into production, to be funded by debt, with a target over the total life of mine of one million carats over 16 years.
Karl Smithson, chief executive, said: "Moving Tongo to the mining licence application stage is a major milestone for the project.
“Simultaneous to this we intend to establish a suitable financing structure to access debt funding for the majority of the US$20mln 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."
Sanlam keeps its 'speculative buy' unchanged on the shares, targeting 1.86p.
"We believe that the Tongo and Baoule projects merit development (Baoule dependent on stone value) but are concerned about recommending a stock that needs equity in the current soft funding environment (for junior miners)," said analyst Charlie Long.
He added that Stellar's debt approach would minimse the dilution if successful, so long as the cost is not too high.
"Presumably a project level investor is also a possibility," added the analyst.
Stellar shares were unchanged at 0.85p.
banjomick
- 07 Apr 2015 15:15
- 46 of 144
A bit more publicity:
STELLAR DIAMONDS MAKES ITS FIRST SALES
07 April 2015
Stellar Diamonds Plc has recently completed its first tender of rough diamonds offered for sale in Antwerp. The company has reported sale of 4,414 carats, out of a total of 6,031 offered at the tender, for gross revenues of US$417,122.
The sale reportedly 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 they found the bid prices offered for those goods were below what they considered acceptable. These goods will be added to future exports and be offered for sale at a later date.
The company has said that it is pleased with the revenues generated from the sale in what it describes as 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.
STELLAR DIAMONDS MAKES ITS FIRST SALES
07 April 2015
Stellar Diamonds Plc has recently completed its first tender of rough diamonds offered for sale in Antwerp. The company has reported sale of 4,414 carats, out of a total of 6,031 offered at the tender, for gross revenues of US$417,122.
The sale reportedly 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 they found the bid prices offered for those goods were below what they considered acceptable. These goods will be added to future exports and be offered for sale at a later date.
The company has said that it is pleased with the revenues generated from the sale in what it describes as 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.
banjomick
- 20 Apr 2015 07:56
- 47 of 144
20 April 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
First 5,000 Carats Achieved from Trial Mining at Baoulé Kimberlite, Guinea
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces an operational update from trial mining at its 75% owned, five hectare Baoulé kimberlite pipe ("Baoulé" or "the Project") in Guinea.
Highlights:
· Trial mining has yielded a total of 5,087 carats to date at an average grade of 13.5 cpht
· High quality gems continue to be recovered, including stones of 12.6 carat and 10.0 carat
· First sale of 733 gem quality carats from Baoulé last month realised $195,000 for an average value of $266 per carat (which formed part of a larger sale of 4,414 carats)
· Included in this sale was a 5.55 carat stone which sold for US$5,000 per carat and several stones which exceeded US$1,000 per carat underpinning the high value and quality of some Baoulé gems
· Next diamond sale planned for May 2015
· Objective to recover a total of 15,000 carats to complete the trial mining phase and provide a basis for deciding whether to advance Baoulé to commercial scale mining
· JORC Resource to be confirmed on completion of trial mining. Current in-house estimate of 3.3 million carats based on previous drilling and average target grade of 15cpht
Stellar Diamonds Chief Executive Karl Smithson commented:
"Good progress continues to be made from trial mining at Baoulé. Our objective is to produce 15,000 carats from this exercise to enable us to determine the grade, value and presence of large stones in the pipe, with a view to using this information to consider a decision to advance Baoulé to commercial scale mining. It is pleasing that we have achieved our maiden revenues following the first diamond sale from Baoulé, as well as other Stellar projects. We are currently planning the next export and sale of Baoulé goods and remain committed to targeting additional diamond sales throughout 2015. I look forward to updating shareholders on progress as we continue the trial mining programme at Baoulé and in the process increase our cashflow."
Trial Mining Production and Processing
Trial mining of the eastern lobe of the Baoulé kimberlite pipe has continued during the first quarter of 2015. In order to maximise the pit area in preparation for the second 3m cut, mining progressed towards the eastern and southern margin of the pipe where a lower grade contact breccia was recently encountered, reducing the average grade to 13.5cpht at a 1.25mm cut off. This has resulted in fewer carats being produced than anticipated at this point in time, but mining and processing of the second cut is expected to see a return to higher grades, based on the results realised from the first cut of the lobe.
Simultaneous to this mining, stripping of the western lobe of the pipe has commenced in advance of the rainy season. Overburden and ground disturbed by diamond diggers is currently being stripped to access the uncontaminated kimberlite in preparation for bulk sampling.
The processing plant is running at a steady state average capacity of approximately 50 tonnes per hour over a double shift (16 hours). The kimberlite material remains predominantly weathered, however some harder blocks of kimberlite are being encountered. Since these blocks are too hard to scrub but are also too soft to efficiently crush, they are being sent to an oversize stockpile where they are broken down with an excavator prior to being re-fed into the plant to ensure maximum diamond liberation and integrity of results.
The overall objective of the trial mining exercise is to produce up to 15,000 carats for grade and diamond value determination of the Baoulé pipe. The Company remains on track to achieve this objective and is currently one third of the way through this exercise. A short operational update of the mining can be found at the following link:
http://stellar-diamonds.com/wp-content/uploads/2015/04/Baoule-Presentation-Apr-15.pdf
Diamond Results
A total of 5,015 carats have been recovered to date from Baoulé at a +1.25mm cut off, giving an average grade of 13.6cpht. This still compares favourably with the historically reported +1mm grade of 13cpht. A total of 380stones greater than 1 carat have been yielded and numerous gem diamonds of over 5 carats and more recently gem diamonds of 10.0 and up to 12.6 carats have been recovered to date.
SEE LINK AT bop FOR TABLE
Diamond Sale
The first diamond sale of 2015 was announced on 24 March 2015. Included in this sale were 733 carats of gem quality diamonds from Baoulé that sold for an average of US$266 per carat and which realised US$195,000 in revenues. This sale included a stone of 5.55 carats which attracted a price of US$5,000 per carat, as well as other stones that exceeded US$1,000 per carat in value, which demonstrates the high quality of some of the goods at Baoulé. Stellar opted to withhold 1,617 carats of predominantly near gem/industrial goods from this sale as the Company believed a stronger price could be realised for the goods in future sales. Stellar will present these withheld goods for sale alongside the next export from Baoulé at a sale currently planned for May 2015. Further information will be announced in relation to the next planned sale, when the final number of carats and definitive dates are established.
Ebola Update
Although the Ebola virus persists in some areas of Guinea there have been no recorded cases in the area of operation for some time. Nevertheless, the Company remains vigilant and adheres to strict operating procedures to ensure the continued well-being of all employees and the local communities.
Competent person
This announcement has been reviewed by Karl Smithson, Chief Executive of Stellar, a qualified geologist and Fellow of the Institute of Materials, Metals, Mining, with 26 years' experience.
http://www.moneyam.com/action/news/showArticle?id=5018871
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
First 5,000 Carats Achieved from Trial Mining at Baoulé Kimberlite, Guinea
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces an operational update from trial mining at its 75% owned, five hectare Baoulé kimberlite pipe ("Baoulé" or "the Project") in Guinea.
Highlights:
· Trial mining has yielded a total of 5,087 carats to date at an average grade of 13.5 cpht
· High quality gems continue to be recovered, including stones of 12.6 carat and 10.0 carat
· First sale of 733 gem quality carats from Baoulé last month realised $195,000 for an average value of $266 per carat (which formed part of a larger sale of 4,414 carats)
· Included in this sale was a 5.55 carat stone which sold for US$5,000 per carat and several stones which exceeded US$1,000 per carat underpinning the high value and quality of some Baoulé gems
· Next diamond sale planned for May 2015
· Objective to recover a total of 15,000 carats to complete the trial mining phase and provide a basis for deciding whether to advance Baoulé to commercial scale mining
· JORC Resource to be confirmed on completion of trial mining. Current in-house estimate of 3.3 million carats based on previous drilling and average target grade of 15cpht
Stellar Diamonds Chief Executive Karl Smithson commented:
"Good progress continues to be made from trial mining at Baoulé. Our objective is to produce 15,000 carats from this exercise to enable us to determine the grade, value and presence of large stones in the pipe, with a view to using this information to consider a decision to advance Baoulé to commercial scale mining. It is pleasing that we have achieved our maiden revenues following the first diamond sale from Baoulé, as well as other Stellar projects. We are currently planning the next export and sale of Baoulé goods and remain committed to targeting additional diamond sales throughout 2015. I look forward to updating shareholders on progress as we continue the trial mining programme at Baoulé and in the process increase our cashflow."
Trial Mining Production and Processing
Trial mining of the eastern lobe of the Baoulé kimberlite pipe has continued during the first quarter of 2015. In order to maximise the pit area in preparation for the second 3m cut, mining progressed towards the eastern and southern margin of the pipe where a lower grade contact breccia was recently encountered, reducing the average grade to 13.5cpht at a 1.25mm cut off. This has resulted in fewer carats being produced than anticipated at this point in time, but mining and processing of the second cut is expected to see a return to higher grades, based on the results realised from the first cut of the lobe.
Simultaneous to this mining, stripping of the western lobe of the pipe has commenced in advance of the rainy season. Overburden and ground disturbed by diamond diggers is currently being stripped to access the uncontaminated kimberlite in preparation for bulk sampling.
The processing plant is running at a steady state average capacity of approximately 50 tonnes per hour over a double shift (16 hours). The kimberlite material remains predominantly weathered, however some harder blocks of kimberlite are being encountered. Since these blocks are too hard to scrub but are also too soft to efficiently crush, they are being sent to an oversize stockpile where they are broken down with an excavator prior to being re-fed into the plant to ensure maximum diamond liberation and integrity of results.
The overall objective of the trial mining exercise is to produce up to 15,000 carats for grade and diamond value determination of the Baoulé pipe. The Company remains on track to achieve this objective and is currently one third of the way through this exercise. A short operational update of the mining can be found at the following link:
http://stellar-diamonds.com/wp-content/uploads/2015/04/Baoule-Presentation-Apr-15.pdf
Diamond Results
A total of 5,015 carats have been recovered to date from Baoulé at a +1.25mm cut off, giving an average grade of 13.6cpht. This still compares favourably with the historically reported +1mm grade of 13cpht. A total of 380stones greater than 1 carat have been yielded and numerous gem diamonds of over 5 carats and more recently gem diamonds of 10.0 and up to 12.6 carats have been recovered to date.
SEE LINK AT bop FOR TABLE
Diamond Sale
The first diamond sale of 2015 was announced on 24 March 2015. Included in this sale were 733 carats of gem quality diamonds from Baoulé that sold for an average of US$266 per carat and which realised US$195,000 in revenues. This sale included a stone of 5.55 carats which attracted a price of US$5,000 per carat, as well as other stones that exceeded US$1,000 per carat in value, which demonstrates the high quality of some of the goods at Baoulé. Stellar opted to withhold 1,617 carats of predominantly near gem/industrial goods from this sale as the Company believed a stronger price could be realised for the goods in future sales. Stellar will present these withheld goods for sale alongside the next export from Baoulé at a sale currently planned for May 2015. Further information will be announced in relation to the next planned sale, when the final number of carats and definitive dates are established.
Ebola Update
Although the Ebola virus persists in some areas of Guinea there have been no recorded cases in the area of operation for some time. Nevertheless, the Company remains vigilant and adheres to strict operating procedures to ensure the continued well-being of all employees and the local communities.
Competent person
This announcement has been reviewed by Karl Smithson, Chief Executive of Stellar, a qualified geologist and Fellow of the Institute of Materials, Metals, Mining, with 26 years' experience.
http://www.moneyam.com/action/news/showArticle?id=5018871
banjomick
- 20 Apr 2015 08:59
- 48 of 144
Stellar Diamonds pleased with trial mining progress at Baoule
By Philip Whiterow
April 20 2015, 8:33am
Stellar Diamonds (LON:STEL) has recovered more large, high quality stones from its trial mining operation at Baoule in Guinea.
Latest mining has seen diamonds of between 12.6 carat and 10.0 carats, the company said. So far a total of 5,087 carats has been unearthed at the mine at an average grade of 13.5 cpht.
Last month, Stellar sold 733 gem quality carats from Baoulé at an average value of $266 per carat as part of a larger sale. One 5.5 cpht diamond sold for more than US$25,000.
Karl Smithson, chief executive, said: "Good progress continues to be made from trial mining at Baoulé.
“Our objective is to produce 15,000 carats from this exercise to enable us to determine the grade, value and presence of large stones in the pipe, with a view to using this information to consider a decision to advance Baoulé to commercial scale mining.“
By Philip Whiterow
April 20 2015, 8:33am
Stellar Diamonds (LON:STEL) has recovered more large, high quality stones from its trial mining operation at Baoule in Guinea.
Latest mining has seen diamonds of between 12.6 carat and 10.0 carats, the company said. So far a total of 5,087 carats has been unearthed at the mine at an average grade of 13.5 cpht.
Last month, Stellar sold 733 gem quality carats from Baoulé at an average value of $266 per carat as part of a larger sale. One 5.5 cpht diamond sold for more than US$25,000.
Karl Smithson, chief executive, said: "Good progress continues to be made from trial mining at Baoulé.
“Our objective is to produce 15,000 carats from this exercise to enable us to determine the grade, value and presence of large stones in the pipe, with a view to using this information to consider a decision to advance Baoulé to commercial scale mining.“
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