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!

22 August 2016
AIM: STEL
Stellar Diamonds plc

Update on Potential Transaction

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, is pleased to announce further details in respect of the potential transaction which was announced on 19 August 2016. Stellar has agreed a proposed transaction with Octea Mining Limited ("Octea") to combine Stellar's Tongo kimberlite diamond project with Octea's adjacent kimberlite diamond project, Tonguma, and to bring both assets into production under the same production infrastructure (the "Potential Transaction") in Sierra Leone. The Potential Transaction, if completed, would be classified as a Reverse Takeover under the AIM Rules for Companies and would require the publication of an admission document and also be subject to shareholder approval. Accordingly, trading in the Company's shares on AIM will remain suspended until either an admission document is published or the Company announces its or Octea's withdrawal from the Potential Transaction.

Highlights

· Combined inferred JORC diamond resource of 5 million carats brought into a single mining operation

· Diamond grades up to 290 carats per hundred tonne ("cpht")

· Average diamond value of US$193 and US$270 per carat for Tonguma and Tongo respectively

· Exploration target of up to 8 million carats

· Opportunity presents enhanced production levels and operational margins, when compared with a stand-alone Tongo mining operation

· No cash acquisition costs to Stellar who will fund and operate the enlarged mine development

· Stellar to preferentially recoup repayment of development capital prior to paying a royalty and net profit interest to Octea


Stellar's Chief Executive Karl Smithson commented:

"The Proposed Transaction, if completed, will be transformational for Stellar and its shareholders. Once in production the combined diamond mining operations will be the second largest in West Africa with an estimated maximum output at full production of approximately 250,000 carats per year of high value diamonds. The high grade and high value nature of the kimberlites to be mined are compelling and the combination of operations should provide meaningful cost synergies that will enhance Stellar's projected operational margins. Using the available infrastructure at Tongo and Tonguma, we expect diamond mining operations to commence within the first 12 months post completion of the Proposed Transaction."

Octea's General Manager Christo Swanepoel commented:

"We are very excited to be combining Octea's Tonguma project with Stellar's Tongo project and bring the enlarged project into production under Stellar's operational management. Stellar has long-standing expertise in Sierra Leone and the Tongo region in particular, which we believe will be of great benefit to the project. In addition, the enlarged project should significantly increase local skilled employment for many years to come which in turn will support the local economy as well as generate significant funds for the Sierra Leonean Government."

Further Information

Stellar has conducted extensive technical due diligence on the Tonguma project and has subsequently entered into detailed, exclusive non-binding terms with Octea to acquire the Tonguma asset (the "Agreement"). The Potential Transaction remains subject to a number of conditions including further due diligence by the Company; Stellar raising a minimum of US$25 million (through a combination of equity, debt and other hybrid products) to fund the combined project into production (the "Fundraise") and entering into final and binding transaction documentation with Octea. Both Stellar and Octea have had detailed discussions with the relevant regulatory authorities in Sierra Leone, and the parties will also seek to obtain support from the Ministry of Mines in Sierra Leone for the Potential Transaction. Accordingly, there is no guarantee that the Potential Transaction will ultimately occur or that it will complete on the terms set out in this announcement.


Stellar has engaged London based Mirabaud Securities ("Mirabaud") as Financial Adviser for the Proposed Transaction. Mirabaud has a successful track record of raising funds in the resources capital markets.

Proposed Transaction Structure

Under the terms of the Potential Transaction as detailed in the Agreement, Stellar Diamonds Ltd, a wholly owned subsidiary of the Company, will transfer the shares of its subsidiary Sierra Diamonds Limited into a newly incorporated company ("NewCo") which will then acquire the shares of Octea Mining Limited's subsidiary Tonguma Limited. Stellar would be issued with 100% of the voting 'A' shares in NewCo while Octea would be issued with 100% of the non-voting 'B' shares in NewCo. Stellar's 'A' shares will give the Company full legal and management control of NewCo and the mining operation. Octea's non-voting 'B' shares in NewCo will entitle Octea to receive royalty payments of between 5% to 10% of the combined revenues of Tonguma and Tongo (the "Enlarged Project") and a 25% economic interest in the net cash flows of the Enlarged Project. Furthermore, Stellar and Octea have agreed a preferential repayment structure for the initial investment amounts of both parties. Under this structure Stellar will recoup its initial investment of at least US$25 million while Octea will pro rata recoup a maximum of US$5 million during the same period, in return for Octea contributing a 50 tonne per hour production processing plant to the Enlarged Project. Any royalty payments and net profit share due to Octea under the Agreement will only commence once the total initial investment amount of both parties has been fully repaid by NewCo. There is therefore no upfront acquisition cost to Stellar in terms of the Potential Transaction.

Background

Stellar's Tongo project has a JORC inferred resource of 1.45 million carats at a grade of 165cpht. The current mine plan for Tongo assumes a conservative lower grade of 120cpht with an average diamond value of US$270 per carat. A further three high-grade kimberlites are present in the licence area though these have not yet been drilled into resource.

The Tonguma project comprises a 25 year mining licence (granted to Octea in 2012) covering an area of 124 square kilometres in the Lower Bambara Chiefdom, Kenema District, in the Eastern Province of Sierra Leone. The Tonguma project is adjacent to and contains the on-strike continuation of the diamondiferous kimberlite dykes which are being explored by Stellar within its Tongo project. A mining licence at Tongo is in the application process with the Ministry of Mines. The two licences together cover the whole of the renowned Tongo diamond fields, which includes a number of high grade and high diamond value kimberlite dykes.

Octea has undertaken extensive exploration activities at Tonguma including over 58,000 metres of diamond drilling as well as bulk sampling which has produced approximately 7,250 carats of which over 3,500 carats has been used for diamond valuation. An independent JORC inferred resource of 3.45 million carats has been estimated at grades of up to 290cpht and average diamond values of US$193 per carat, to a maximum depth of 200 metres which has led to a total inferred carat resource of approximately 5 million carats being estimated for both projects.


The combination of very high grade and diamond value at Tongo and Tonguma yields potential in-situ ore values of up to US$560 per tonne.


Independent consultants have also estimated a significant further exploration target on the Tonguma licence, which, based on the mid-range grade and tonnage estimates, results in a potential exploration target of a further 8 million carats. It is the intention to bring the "exploration target" into the JORC resource category in due course, however, these estimates remain conceptual in nature and it is uncertain if further exploration will result in estimation of a mineral resource.

A full independent competent person's report on the Tonguma Project and existing Stellar projects including Tongo is being prepared by Toronto based MPH Consulting and will be included in any admission document, which is published in connection with the Potential Transaction.

Future Mining Strategy

Given the close proximity of the two projects, the Potential Transaction, if completed, should allow Stellar to undertake both surface and underground mining across both licences. It is envisaged that processing would be undertaken centrally, utilising the existing 50 tonnes per hour production plant which will be relocated to the project area from Octea's Koidu mine, approximately 60 kilometres North of Tonguma. Through mining two separate resources and centrally processing ore, the Company expects to be able to operate more efficiently thereby realising a number of cost savings, and generating significantly increased production rates. This should also have a meaningful impact on Stellar's future revenues and margins.



The initial capital outlay for Tongo as a stand-alone project has previously been reported by Stellar at an estimated US$25 million. Independent consultants Paradigm Project Management ("PPM"), who together with SRK Consulting ("SRK"), are preparing the combined Tongo/Tonguma mine plan, estimate the initial capital requirements at approximately US$40 million (excluding working capital) to establish production for the combined project. The Enlarged Project would, however, also lead to significantly higher production levels and revenues than just the Tongo mine alone. The final Tongo/Tonguma mine plan by PPM/SRK will be received in the near future and will provide significantly more detail on the production rates, revenues and capital/operational costs.

The Company will make further announcements in due course as and when appropriate.

Review by 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 27 years' experience.
http://www.moneyam.com/action/news/showArticle?id=5401553

5 October 2016
Stellar Diamonds plc
 
Preliminary Economic Assessment for the proposed Tongo-Tonguma Mine
 
Further to the announcement on 22 August 2016 on the proposed transaction ("the Transaction") (the "Transaction Announcement") between Stellar Diamonds plc ("Stellar" or "the Company") and Octea Mining ("Octea") to combine their adjacent Tongo and Tonguma diamondiferous kimberlite dyke properties in eastern Sierra Leone, Stellar announces the results of an independent Preliminary Economic Assessment ("PEA") for the combined mining project ("the Project"). 
 
The PEA demonstrates a financially robust and high margin 21 year life of mine over an initial resource of 4.5 million carats. The PEA also recognises considerable upside exists from additional high-grade kimberlite dykes on the properties which are not yet categorized into resource.
 
Highlights: 
·      Estimated pre-tax Project NPV(10) and IRR of $172 million and 49% respectively
·      Projected life of mine Project revenues of $1,518m with operating costs of $847 million
·      Estimated operating margin of 50% over the life of mine
·      First production expected within 12 months, ramping up to over 200,000 carats p.a. in 4th year
·      Expected Capex of $31.8 million in first two years (including 15% contingency)
·      Estimated 3.96 million carats recoverable from the initial 4.5 million carats resource at a +1.18mm cut-off

·      Recoverable diamond grades and values for first three kimberlites to be mined of:
o  Kundu: 260cpht and $209 per carat ($543 per tonne)
o  Lando: 220cpht and $209 per carat ($440 per tonne)
o  Tongo: 100cpht and $310 per carat ($310 per tonne)
·      Exploration target of up to 8 million carats in addition to existing resource
 
Chief Executive Karl Smithson commented:
"The PEA of the combined Tongo-Tonguma mine demonstrates robust financial returns for a modest capital requirement and supports the Board's decision to pursue this strategic acquisition.  Three kimberlite dykes, Kundu, Lando and Tongo are contained within the mine plan and have compellingly high diamond grades and values and together support a long life of mine. We are further encouraged by the potential which exists to significantly increase the resource base by bringing a number of additional high grade kimberlites that have been discovered to date on both licences into the long term resource base.
 
"We continue to make good progress with the legal and other due diligence processes that are required to complete the Transaction and will provide further updates in due course."

***More via Link Below***

http://www.moneyam.com/action/news/showArticle?id=5427475

9 November 2016

Joint Ventures Signed in Guinea and Liberia
 
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces that it has signed joint venture agreements ("JVA's") with Citigate Commodities Trading ("Citigate"), a Dubai based commodities group, over the Company's Baoulé kimberlite project in Guinea ("Baoulé project") and two earlier stage exploration licences in western Liberia ("Liberia project"), which were awarded to Stellar in February 2016. The Company currently has a 75% interest in the Baoulé Project and a 100% interest in the Liberia Project.
 
The attractive terms of the JVA's remain as announced on the 28 July 2016, providing Stellar with essentially a free-carry on the projects, and are summarised as follows:
 
Highlights of the Baoulé Joint Venture:

·      Staged earn-in by Citigate's subsidiary company SAFA Afrique Ltd. of up to 75% of Baoulé;
o  Phase-1 expenditure of US$1.5 million for a 25% shareholding
o  Phase-2 expenditure of US$2 million for a further 25% shareholding
o  Phase-3 fund a pre-feasibility study for a further 25% shareholding
·      Stellar to be paid a Phase-1 management fee of US$150,000
·      Stellar to receive 56% of gross revenues from Phase-1 trial mining
·      Citigate awarded off-take rights on goods exported during the Citigate earn-in process
 
Highlights of the Liberia Joint Venture:

·      Staged earn-in by Citigate's subsidiary company SAFA Afrique Ltd. of up to 85% of the Liberia project;
o  Phase-1 expenditure of US$250,000 for a 25% shareholding in the licences
o  Phase-2 expenditure of US$2 million for a further 25% shareholding
o  Phase-3 expenditure of US$4 million for a further 35% shareholding
·      Stellar to be paid Phase-1 management fee of US$25,000
·      Stellar to receive pro-rata revenues from any diamond sales during any phase of earn-in
·      Citigate awarded off-take rights on goods exported during the Citigate earn-in process
 
For each JVA above, Phase 1 is expected to take place over a 12 month period. In the event of the projects moving to Phase 2, work is expected to take place over a 2 year period with Phase 3 expected to occur over a 3 year period. SAFA Afrique Ltd will be awarded a 25% holding in each project upon receipt by Stellar of initial funds due. This will be adjusted proportionately in the event that the full Phase 1 earn-in funding, which is expected to be received over the 12 month work programme for each project, is not received.
 
Stellar Chief Executive Karl Smithson commented:
"Stellar is focussed on the proposed Tongo-Tonguma transaction in Sierra Leone, as previously announced. As such we are delighted to finalise these joint ventures on terms which are highly attractive to Stellar and our shareholders, who will retain an ongoing interest in the projects, including a proportion of any revenues commensurate with each parties' shareholding during each particular Phase. Stellar's experienced local teams will manage the programmes for at least the first Phase of work, for which the Company will receive a management fee.  We expect the first phase of work to commence on each project towards the end of November.
 
"Importantly, these joint ventures will allow the key management of Stellar to focus on the proposed Tongo-Tonguma transaction in Sierra Leone, which we believe offers significant value potential.  The combined Tongo-Tonguma project demonstrated robust economics in a Preliminary Economic Assessment, with an estimated pre-tax project NPV(10) of US$172 million, an IRR of 49%, and projected life of mine project revenues of US$1.5 billion.  We therefore look forward to focussing our efforts on the advancement of Tongo-Tonguma, whilst retaining exposure to Baoulé and the Liberian projects."

http://www.moneyam.com/action/news/showArticle?id=5445896

22 December 2016
AIM: STEL
Stellar Diamonds plc ("Stellar" or the "Company")

Final Results
 
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, announces its final results for the period ended 30 June 2016.
 
Operational Highlights:
Tongo 1.45 million carat ("Mcts") Kimberlite Dyke-1 Project, Sierra Leone:
·      Mining licence application submitted and pending approval subject to environmental licence
·      Environmental impact assessment submitted and approved
·      Potential acquisition of adjacent 3.45Mcts Tonguma mining licence in process
·      Preliminary economic assessment delivered for the proposed combined Tongo-Tonguma project shows robust returns with pre-tax NPV (10) of US$172 million and IRR of 49%
 
Baoulé Project, Guinea:
·      Trial mining has yielded a total of 11,564 carats to date
·      Diamond sale revenues from trial mining have totalled US$1.1 million
·      Largest stone of 55cts (low quality) with high value gems up to 12cts in size
·      Target resource remains 3.3Mcts based on historical drilling and current grades
·      Joint venture signed with Citigate Commodities Trading (post year-end)
 
Liberia Licences:
·      Two exploration licences granted which cover historical positive exploration results in a known kimberlite and diamond province of west Liberia
·      Joint venture signed with Citigate Commodities Trading (post year-end)
 
Financial Highlights:
·      US$3.6 million cash raised in the financial year through a combination of equity and debt funding to complete the Baoulé trial mining exercise and advance the Tongo project and proposed Tonguma acquisition
·      New significant shareholder, Deutsche Balaton, brought in through a combination of equity and convertible loan
·      Cost savings made in previous years maintained with Group administrative costs static at approximately US$1.4 million for the year
 
Stellar Diamonds Chief Executive Karl Smithson commented:
"During the past year we have pursued the key strategy of consolidating our Tongo kimberlite dyke licence with the adjacent Tonguma kimberlite dyke mining licence in order to create an enlarged hard rock mining operation that can offer long-term and sustainable production and revenues.  In the event of completion of the acquisition of Tonguma, the combined mine would have an initial inferred +1.18mm diamond resource of 4.5 million carats, with diamond values ranging from US$209/ct to US$310/ct, from just three (of eight) kimberlite dykes in the licence areas, all of high grade and high diamond values. The PEA demonstrates a life of mine of 20 years with production estimated to be over 200,000 carats per year for the most part.
 
"The acquisition process is ongoing and remains the focus of Stellar (albeit there is no guarantee that it will be completed). In order to focus on the acquisition we undertook to joint venture our Baoulé kimberlite pipe project in Guinea and our Liberian licences to Citigate whilst retaining a free-carried interest in these projects. The earn-in allows for Citigate to fully fund both projects but Stellar's existing teams on the ground will manage the projects for the first phase of work and will also receive a management fee for doing so.
 
"We look forward to the next year with considerable excitement as we pursue a transformational acquisition whilst at the same time maintain exposure to our quality portfolio of diamond assets in West Africa."

http://www.moneyam.com/action/news/showArticle?id=5470225

 ***One to watch for 2017?***

Stellar Diamonds more than doubles FY pretax loss

StockMarketWire.com

Stellar Diamonds has more than doubled its FY pretax loss to $7.06m, from a year-ago loss of $3.02m.

Revenue was $499,725, from $614,228.

Most of the latest loss was due to a $4.3m charge for the impairment on intangibles, from a $605,728 charge in the comparative period.

"All the hard work during 2016 should ensure that 2017 is a very exciting year for the company," it said in a statement.

"Subject to completion occurring, Tongo-Tonguma has the necessary characteristics to transform Stellar into a mid-tier diamond mining company."

http://www.moneyam.com/action/news/showArticle?id=5470283

20 February 2017 
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
Tongo-Tonguma Update
Proposed Tribute Mining Agreement
Update on Joint Venture projects
Suspension Update

http://www.moneyam.com/action/news/showArticle?id=5498661

23 February 2017
 
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
 Placing to raise £324,500
Open Offer to raise up to £250,000
Proposed Issue of Shares to Directors and proposed Subscription
 Appointment of Joint Broker and Proposed issue of Warrants
Suspension Update

http://www.moneyam.com/action/news/showArticle?id=5500851

27 February 2017
 
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
Completion of Placing
Restoration of Trading
Open Offer to raise up to £250,000
Subscription and Issue of Shares to Directors
Notice of Annual General Meeting

http://www.moneyam.com/action/news/showArticle?id=5502404

1 March 2017
AIM: STEL
Stellar Diamonds plc
 
Directors' Dealings
 
On 28 February 2017, the Company received notification of the following share purchase transactions in its ordinary shares of 1 pence each ("Ordinary Shares") by certain Directors of the Company, all of which occurred on 28 February 2017:

http://www.moneyam.com/action/news/showArticle?id=5504236

6 March 2017
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
Tongo-Tonguma Updated Presentation
 
Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announces that it has updated a presentation summarising the Tongo-Tonguma project which covers the world famous Tongo diamond fields of Sierra Leone and which is subject to, inter alia, entering into a proposed Tribute Mining Agreement ("Tribute Agreement") with Octea Mining ("Octea"). The presentation is now available for download from the Company's website:
 
http://stellar-diamonds.com/wp-content/uploads/2017/03/Q1_2017_Tongo_Tonguma_Presentation.pdf
 
Key highlights

·      Robust estimated attributable post-tax Project NPV(8) and IRR of US$104 million and 31% respectively1
·      Potential estimated attributable NPV is in excess of 40 times the current market capitalisation of Stellar
·      Estimated projected life of mine revenues of US$1,518 million1
·      Significant estimated 4.5 million carats resource with target of additional 8 million carats

·      High recoverable diamond grades and values for first three kimberlites to be mined of:
o  Kundu: 260cpht and $209 per carat ($543 per tonne)
o  Lando: 220cpht and $209 per carat ($440 per tonne)
o  Tongo: 100cpht and $310 per carat ($310 per tonne)

·      Low estimated Capex of US$31.8 million in first two years (including 15% contingency)
·      Stellar to fund the mine development and recover its investment prior to paying to Octea a 10% revenue share on future mine revenues
·      High estimated operating margin of 50% over the life of mine
·      Potentially rapid initial cash flow within 12 months and commercial production within 24 months ramping up to over 200,000 carats p.a
·      Significant mine equipment, including a 50tph production plant to be acquired for nominal value as part of the Tribute Agreement
 
 
1 Company estimates based on the preliminary economic assessment. Assumes the proposed Tribute Agreement remains in place for the estimated lift of the mine.
 
Further details of the exclusive heads of terms entered into with Octea and the proposed Tribute Agreement are set out in the announcement of 20 February 2017 which Shareholders are encouraged to read in full.

http://www.moneyam.com/action/news/showArticle?id=5506997

17 March 2017 
AIM: STEL
Stellar Diamonds plc
 
709 Carat Diamond Discovered in Sierra Leone
 
Stellar Diamonds plc, the London listed diamond development company focused on West Africa, notes the recent reports regarding the discovery near to Koidu town by an artisanal diamond miner in eastern Sierra Leone of a 709 carat diamond, which has been reported as the 13th largest diamond ever found.  Other famous large diamonds discovered in Sierra Leone include the 969 carat "Star of Sierra Leone", the 770 carat "Woyie River" and the 620 carat "Sefadu".  This latest discovery reaffirms the Company's belief that Sierra Leone ranks in the very top tier globally for the production of large and high quality diamonds.
 
Stellar is focussed on the development of its 100% owned Tongo kimberlite diamond project in eastern Sierra Leone, on which it has invested £5.5 million (representing 15p per share) to date defining and growing the current resource and the proposed Tribute Mining agreement between Octea Mining Ltd and Stellar, of the adjacent Tonguma diamond project.  Both licences currently have a combined diamond resource of 4.5 million carats.
 
The economic model for the combined 4.5 million carat diamond resource for the proposed Tongo and Tonguma mine generates a robust estimated attributable post-tax Project NPV (8) and IRR of US$104 million and 31% respectively with estimated projected life of mine revenues of US$1,518 million with diamond grades and prices of 100cpht to 260cpht and US$209 to US$310 per carat respectively.  Shareholders should refer to the announcement of 20 February 2017 where details of the proposed tribute agreement are set out.

http://www.moneyam.com/action/news/showArticle?id=5514481

23 March 2017
AIM: STEL

Stellar Diamonds plc
 
Result of Open Offer

On 27 February 2017, Stellar Diamonds plc, the London listed diamond development company focused on West Africa announced details of, inter alia, an Open Offer to raise up to an additional £250,000 through the issue of up to 4,545,455 new ordinary shares at a price of 5.5 pence per share.
 
The Open Offer closed for acceptances on 22 March 2017 and the Company announces that it has received valid acceptances in respect of 3,340,931 Open Offer Shares from Qualifying Shareholders, conditionally raising £183,751 gross of expenses, which includes applications for 1,959,033 Open Offer Shares under the Excess Application Facility.  This represents approximately 73.5 per cent. of the Open Offer Shares offered.
 
Pursuant to the Conditional Placing, 1,381,818 of the Open Offer Shares were conditionally placed by the Company's joint broker, Peterhouse Corporate Finance Limited, subject to clawback, to satisfy valid applications under the Open Offer. Due to the level of valid acceptances received under the Open Offer, the Conditional Placing has been scaled back in full.
 
The Open Offer remains conditional on, amongst other things, shareholder approval and admission of the new ordinary shares to be issued pursuant to the Open Offer to trading on AIM.  Such approval is being sought at the annual general meeting of the Company to be held at 10a.m. on 24 March 2017 at the offices of Peterhouse Corporate Finance Limited, New Liverpool House, 15 Eldon Street, London, EC2M 7LD. It is expected that the Open Offer Shares will be admitted to trading on AIM on 27 March 2017.
 
Unless the context requires otherwise, all capitalised terms in this announcement have the same meanings as those given to them in the circular to shareholders, dated 28 February 2017, containing full details of the Open Offer, Subscription and issue of Director Fee Shares which is available on the Company's website at www.stellar-diamonds.com.  

http://www.moneyam.com/action/news/showArticle?id=5517897  

29 March 2017
 
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
PDMR Dealings
 
Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announces that it has received the following notification of dealings in Stellar shares from certain Directors of the Company.  As stated in the Company's announcement dated 24 March 2017, following the Subscription and issue of Director Fee Shares the Directors hold the following number of shares in the Company:

***See Link Below***

http://www.moneyam.com/action/news/showArticle?id=5521881

31 March 2017
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
Interim Results for the six months to 31 December 2016
 
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 2016.
 
Operational Highlights:

o  Heads of terms signed with Octea Mining Ltd ("Octea) for proposed Tongo-Tonguma tribute mining agreement in February 2017 (post reporting period)
o  Robust attributable post-tax Project NPV(8) and IRR of US$104 million and 31% respectively1
o  Estimated attributable NPV in excess of 40 times current market capitalisation of Stellar
o  Estimated projected life of mine revenues of US$1.518 billion1
o  Significant 4.5 million carats resource over Tongo-Tonguma project with target of additional 8 million carats
o  Resource statements, mine plan, financial model completed by independent consultants
 
Financial Highlights
o  US$0.6 million interim loan repaid and replaced by a US$1.24 million convertible loan during the reporting period
o  Additional US$0.66 million raised post reporting period through a placing, subscription and open offer
o  Continued reduction in administration costs to US$0.55 million for the six months to 31 December 2016
 
1 Company estimates based on the independent preliminary economic assessment. Assumes the proposed Tribute Agreement remains in place for the estimated life of the mine.
 
Stellar Diamonds Chief Executive Karl Smithson commented, "With the significant potential of the amalgamation of the Tongo Diamond fields projects in mind, we entered into heads of terms with Octea Mining ("Octea") during the period to combine its adjacent Tonguma project with our own Tongo project in eastern Sierra Leone for commercial exploitation ("Acquisition Heads of Terms").  The terms of the transaction with Octea began to change towards the end of the year from a planned acquisition of Tonguma to a proposed tribute mining arrangement, whereby Stellar intends to fund the mine development and pay Octea a 10% revenue share of all production from both licences once has recouped our capital expenditure in respect of the mine build.  A new heads of heads of terms for the proposed tribute mining agreement was entered into and announced on 20 February 2017 ("Tribute Heads of Terms"). Full, legally binding conditional agreements between Stellar and Octea in respect of the proposed tribute mining agreement are currently being drafted and expected to be finalised in the near future ("Tribute Mining Agreement").
 
"Independent consultants completed a detailed mine plan and financial model for the combined 4.5 million carat resource at Tongo-Tonguma which demonstrates that over an estimated initial mine life of 21 years some 3.9 million carats is expected to be produced (subject to the Tribute Mining Agreement being entered into and remaining in place).  The recovered diamond grades and values of the three kimberlite dykes currently in the mine plan range from 100cpht to 260cpht and US$209/ct to US$310/ct.  By worldwide standards these are considered to be some of the highest dollar per tonne kimberlite diamond deposits.  Stellar has estimated that the combined Tongo-Tonguma project could potentially generate a post-tax Project NPV(8) and IRR of US$104 million and 31% respectively attributable to Stellar, which is in excess of 40 times our current market capitalisation, on estimated life of mine revenues of US$1.518 billion. We look forward to being in a position to fully unlock the potential of the high value Tongo diamond fields.
 
"Separately at the Company's Baoulé kimberlite pipe project in Guinea, trial mining of the targeted 100,000 tonnes was completed just prior to the year end in June 2016.  A total of 11,564 carats were mined with diamond sales totalling US$1.1 million over the trial mining period. As the project then stood down for the rainy season, we negotiated a joint venture over Baoulé (and the two exploration licences in Liberia) with a Dubai based group, Citigate, which were signed in October 2016. However, to date no funding has been forthcoming from Citigate. Accordingly, we are now considering our options, for the continual development of Baoulé and exploration in Liberia whilst we focus on the Tongo-Tonguma project in Sierra Leone."
 
Chairman's Statement
Our recent focus has been on bringing together the high grade and high value kimberlites that are covered by the adjacent Tongo and Tonguma licences in Sierra Leone for joint commercial development.  These licences cover the whole of the very rich Tongo diamond fields and once developed would represent the second largest kimberlite diamond mine in Sierra Leone and West Africa. 
 
Tongo-Tonguma Project, Sierra Leone
We have previously reported that the stand alone Tongo project of Stellar has an in-situ resource estimated to be 1.5 million carats at a diamond grade of 120cpht and diamond value of US$270/ct and independent consultants prepared a mine plan and financial model which estimated a pre-tax NPV(10) of US$53 million.  Whilst this represents considerable value against Stellar's current market capitalisation, in 2016 we took the initiative to approach Octea regarding the adjacent and larger Tonguma mine lease to strike a deal to combine the two licences for future development, seeing an opportunity to drive an even higher value for shareholders. 
 
After an agreement was reached with Octea, we appointed independent consultants to prepare a resource statement for Tonguma and develop a combined mine plan for Tongo-Tonguma. In summary, a combined resource of 4.5 million carats was identified for a 21 year life of mine.  Kimberlite grades range from 100cpht to 260cpht (on a recovered +1.18mm basis) with modelled diamond values ranging from US$209/ct to US$310/ct. These are very high grades and values and we believe offer an excellent potential operating margin.
 
A modest two year capital requirement of US$31.8 million is required to target production levels of 200,000 carats per year, with a forecast total of 3.9 million carats being recovered over the life of mine, importantly with first production being achieved towards the end of the first year of development.  Independent consultants attributed a potential pre-tax NPV(10) and IRR of US$172 million and 49% to this combined mine development.  The consultants have also identified an exploration target of a further 8 million carats not currently in the mine plan representing significant additional upside if brought into future development plans. Stellar has calculated the potential post-tax returns based on certain assumptions and the fiscal terms of the Tonguma mine lease and Sierra Leone Income Tax Act (2000) as amended, and estimates the post-tax NPV(8) and IRR of US$104 million and 31% respectively.
 
The initial Acquisition Heads of Terms entered into with Octea envisaged an acquisition of Tonguma by Stellar which was deemed to be a reverse takeover ("RTO") pursuant to the AIM Rules and consequently the shares of Stellar were suspended from trading on AIM.  After progressing the RTO and further negotiation a revised agreement with Octea was reached which resulted in the Tribute Heads of Terms being entered into in late February 2017 and should result in the Company entering into the proposed Tribute Mining Agreement in the near future. The Tribute Mining Agreement, which no longer involves the acquisition of Tonguma, is not deemed to constitute an RTO so accordingly shares of Stellar were thereafter unsuspended shortly after the interim reporting period ended and following completion of a fundraise.  The Tribute Mining Agreement, if entered into, will enable Stellar to retain 100% ownership of its Tongo licence and essentially contract mine the Tonguma mining licence.  The Company will invest 100% of the development capital of the Tongo-Tonguma project but importantly will recoup its investment preferentially, after which a 10% revenue share on production from the combined operation will be paid to Octea.  In addition, a US$5 million bullet payment will be made to Octea some five years after the mine development commences.  There is no acquisition cost to Stellar. We believe that the terms of this development are attractive to Stellar and, subject to funding and finalisation of related due diligence and contracts, could deliver significant returns to shareholders.
 
Baoulé Project, Guinea
The trial mining exercise at Baoulé was completed just prior to the interim period with a total of 11,564 carats being produced and sold with total revenues over the programme reaching US$1.1 million.  During the rainy season when operations stood down, Stellar entered and concluded negotiations with Citigate and a joint venture agreement was signed in late October 2016 after which period Citigate became responsible for the funding with Stellar remaining as operator.  Unfortunately, to date no funding has been forthcoming from Citigate and we are now considering our options to potentially cancel the joint venture and bring in a new partner to take the project forward whilst we focus on the Tongo-Tonguma development in Sierra Leone. The Company will update Shareholders on this in due course.
 
Kumgbo Project, Liberia
These two licences in western Liberia were granted in February 2016, having been paid for in 2014, and cover some historical indicator mineral anomalies identified from some historical work completed by Stellar. A short field programme was undertaken during the period which identified a number of key target areas some of which have coincident diamond diggings in proximity to the indicator minerals.  A nearby diamondiferous pipe discovery to the west, owned by a third party, where an 18-carat Type IIa diamond has been yielded, further emphasises the prospectively of these licences. 
 
However, in order for Stellar to focus on Tongo-Tonguma these Liberia licences were also joint ventured out to Citigate and, as for Baoulé, a decision on the future of this joint venture will be made shortly.
 
Diamond Market
The rough diamond market remains cautious with some new mines coming on stream and majors such as De Beers and Alrosa are indicating a slight increase in production levels for 2017. Whilst this new product may put slight pressure on prices it seems that 2017 has got off to an encouraging start with prices holding up and increasing in some of the better quality categories and the larger stones.  Ongoing stability in the market will be governed by continued economic growth in the USA and China and restraint on production levels from the majors. Forecasts for a drop in rough production from over 140 million carats in 2019 to around 115 million carats in 2029 remain unless new major discoveries are made.
 
Outlook
Looking ahead our objective for 2017 is for Stellar to conclude the Tongo-Tonguma agreements and secure the necessary funding to bring this high quality project into development. The project provides a significant resource with large upside, low estimated capex requirements, potentially rapid initial cash flow within 12 months and potential estimated life of mine revenues of US$1.5 billion, hence we see this as the key to driving significant shareholder value over the near to medium term.  I would like to thank our shareholders for their continual support and look forward to the remainder of 2017 and working hard to deliver on our objectives.
 
Lord Daresbury
Non-Executive Chairman

http://www.moneyam.com/action/news/showArticle?id=5523075

28 April 2017 
AIM: STEL
Stellar Diamonds plc
 
Tribute Mining Agreement Signed over Tongo-Tonguma, Sierra Leone
 
Stellar Diamonds plc, the London quoted diamond exploration and development company focused on West Africa, announces that it has signed a legally binding conditional Tribute Mining Agreement and Revenue Share Agreement ("the Agreements") with Octea Mining Limited ("Octea") in respect of the Tongo-Tonguma kimberlite diamond project ("Project") in eastern Sierra Leone.
 
Background and Highlights of the Agreements and the Project:
·      Deal creates the potential for substantial near and long term cash flows for Stellar
·      Project hosts one of the highest value kimberlite ore bodies in Africa on a dollar per tonne basis and would create the second largest kimberlite diamond mine in West Africa
·      Agreements allow for mining the combined and contiguous Tongo and Tonguma concessions
·      Robust attributable potential post-tax Project NPV(8) and IRR of US$104 million and 31% respectively1
·      Modest mine development CAPEX in first two years estimated at US$32 million (including 15% contingency)
·      Estimated 21 year mine life, producing over 4.5 million carats with estimated revenues over US$1.5 billion1
·      Project at full production estimated to generate US$45 million gross revenue per annum2
·      Resource statements, mine plan, financial model, CPR, all completed by independent consultants
·      10% share of gross revenues (after deduction of Government royalty) payable to Octea on diamond and other minerals recovered and sold, once Stellar has recouped an amount equal to its CAPEX investment and Octea has received an initial revenue share payment of US$5 million
·      Stellar to make a one-off payment of US$5.5 million to Octea five years after Project mine development commences
·      On completion, Stellar will acquire a 50tph kimberlite processing plant from Octea for a nominal amount in order to fast track production
·      Stellar's has invested US$7.2 million to date on establishing resources at Tongo, equivalent to approx. £0.14 per Stellar share
 
1 Company estimates based on the preliminary economic assessment. Assumes the Agreements remain in place for the estimated lift of the mine.
2 200,000 carats per annum at a weighted average value of US$229 per carat, with full production estimated approximately three years after development commences
 
Chief Executive Karl Smithson commented:
"We are delighted to have signed these agreements with Octea which, subject to completion, will allow Stellar to build a single mine for the simultaneous commercial production from the contiguous Tongo (Stellar) and Tonguma (Octea) kimberlite deposits.  The combined project has an initial 4.5 million carat resource which, due to the high grade (100cpht to 260cpht at +1.18mm) and high quality diamonds (US$209/ct to US$310/ct), is considered to be one of the highest value kimberlite ore bodies in Africa on a dollar per tonne basis. The 21 year mine plan with a consistent output of over 200,000 carats per year at full production would quantify this development as the second largest kimberlite diamond mine in West Africa. The project also has a very modest two year capital requirement of just under US$32 million to get into full scale commercial production. Stellar has the strong support of all main stakeholder groups in Sierra Leone for this mine development, which would have a very positive impact in terms of employment, local infrastructure development and future taxation revenue for the country."
 
The technical information in relation to the proposed combined Tongo-Tonguma mine plan previously reported in announcements dated 5 October 2016, in respect of the preliminary economic assessment ("PEA") and mine plan, and 31 October 2016, in respect of the Competent Persons Reports ("CPR"), remains unchanged.
 
Tribute Mining and Revenue Share Agreements
The Company signed the binding Tribute Mining Agreement and Revenue Share Agreement with Octea on 27 April 2017. The terms of the Agreements are materially the same as those in the Heads of Terms, as announced on 20 February 2017. Completion of the Agreements remain subject to inter alia, valid licence opinions being obtained for the Tongo and Tonguma licences, any encumbrance over the Tonguma company or assets being lifted; the parties (each acting reasonably) being satisfied that Stellar shall receive sufficient monies to finance the Front End Engineering Design (FEED) stage of the Mine Plan ("Initial Financing Condition") (together "Completion").  If the conditions have not been satisfied or waived by 30 June 2017 (or such later date as may be agreed by both parties) the Agreements may be terminated. The first elements of mine development are planned and pursuant to the Agreements, are required to commence within three months of Completion. In the event that Completion does not occur and the Initial Financing Condition has not been met, Stellar will be obliged to pay certain costs to Octea which, if incurred, are expected to be in the region of approximately US$150,000.
 
Following Completion, Octea will continue to hold the Tonguma mining licence through its subsidiary company Tonguma Ltd (the legal holder of the Tonguma licence) and Stellar will continue to wholly own its adjacent Tongo licence and subsidiary company Sierra Diamonds Limited. Stellar will also own certain infrastructure and capital items procured and utilised for the mine development on both licences. 
 
Octea has agreed that for so long as the Tribute Mining Agreement is in place, it will not sell Tonguma Ltd or the Tonguma licence to a third party. The Tribute Mining Agreement however includes termination clauses whereby the agreement can be terminated by either party for breach of the agreement. Shareholders should note that in the event of termination, Stellar would have no rights over Tonguma Ltd or the Tonguma licence save for any contractual rights accrued and, depending on the circumstances, may be obligated to pay certain costs to Octea, which in the event of a breach of the Tribute Mining Agreement by Stellar, may include, inter alia, the transfer back to Octea of the Tonguma processing plant.
 
Once Stellar has recouped its development capital, Octea has a right of a put option  ("Put") for Stellar to purchase its revenue share, such value to be agreed upon by independent experts if Octea and Stellar cannot agree on the Put valuation.
 
Having taken local tax advice in Sierra Leone, and following Completion, Stellar and Octea intend to create an unincorporated joint venture between Tonguma Ltd and Sierra Diamonds Ltd to account for their respective share of costs and revenues to comply with local tax law. This is not expected to change the contractual rights and responsibilities of each party pursuant to the Agreements. Diamonds, however, will be exported and sold on the international market by Stellar and using reputable third party diamond marketing groups.

http://www.moneyam.com/action/news/showArticle?id=5539275

Stellar Diamonds inks Tongo-Tonguma tribute mining agreement
Source: SMW

Stellar Diamonds has signed a legally binding conditional Tribute Mining Agreement and Revenue Share Agreement with Octea Mining Ltd in respect of the Tongo-Tonguma kimberlite diamond project in eastern Sierra Leone.

The deal created the potential for substantial near and long term cash flows for Stellar, it said in a statement.

CEO Karl Smithson said was delighted to have signed these agreements with Octea, which, subject to completion, would allow Stellar to build a single mine for the simultaneous commercial production from the contiguous Tongo (Stellar) and Tonguma (Octea) kimberlite deposits.

The combined project had an initial 4.5m carat resource, which, due to the high grade (100cpht to 260cpht at +1.18mm) and high quality diamonds (US$209/ct to US$310/ct), was considered to be one of the highest value kimberlite ore bodies in Africa on a dollar per tonne basis.

The 21-year mine plan with a consistent output of over 200,000 carats per year at full production would quantify this development as the second largest kimberlite diamond mine in West Africa.

The project also had a very modest two-year capital requirement of just under $32m to get into full scale commercial production.

"Stellar has the strong support of all main stakeholder groups in Sierra Leone for this mine development, which would have a very positive impact in terms of employment, local infrastructure development and future taxation revenue for the country," said Smithson.

3 May 2017
 AIM: STEL
Stellar Diamonds plc
 
Front End Engineering and Design Contract for Tongo-Tonguma Project
 
Stellar Diamonds plc, the London quoted diamond exploration and development company focused on West Africa, announces that, further to the Company's announcement on 28 April 2017 that it entered into a Tribute Mining Agreement with Octea Mining Limited ("Octea") in relation to the Tongo-Tonguma kimberlite dyke diamond project in Sierra Leone ("the Project"), the Company has now entered into a contract for the Front End Engineering and Design study ("FEED") to be conducted for the underground mine development of the Project.
 
FEED Highlights:
·      First key milestone in the mine development of a high-grade diamond project
·      Paradigm Project Management Pty Ltd ("PPM") appointed to prepare the FEED study
·      Study will refine estimated operating and capital costs and mine construction parameters
·    Robust attributable potential post-tax Project NPV(8) and IRR of US$104 million and 31% respectively1
·      Long 21-year mine life, producing over 4 million carats with revenues over US$1.5 billion1
·      Project is one of the highest dollar per tonne value kimberlites in Africa and has the potential to be the second largest diamond mine in West Africa
 
1 Company estimates based on the Preliminary Economic Assessment ("PEA")
 
Chief Executive Karl Smithson commented:
"Having announced the signing of the Tribute Mining Agreement on the Tongo-Tonguma project last week, we are pleased to already be announcing the signing of the FEED contract today. The FEED is a very important first step in the mine development process. PPM are highly experienced in the delivery of diamond mine projects and together with SRK Consulting they will refine all elements of the mine plan as determined in the PEA to higher levels of confidence in order to reduce the project delivery risk. With over 66,000m of drilling completed at the Project to date, we will undertake mine plan related drilling to a depth of 75m concurrent with the FEED study.
 
"Once work commences on the FEED, it is expected to take approximately four months to deliver (including drilling) and will mark the onset of the mine development programme. I look forward to updating shareholders on our progress as we work to transform Stellar into a long term, high value diamond producer."

http://www.moneyam.com/action/news/showArticle?id=5541843

5 May 2017 
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
 
 Amendments to Convertible Loan Notes

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announces that it has negotiated a two month extension to the longstop dates with the noteholders ("Noteholders") of its two outstanding Convertible Loan Notes ("CLNs"). Details of the CLNs are contained in the announcements by the Company of 2 November 2015, 6 October 2016 and 24 February 2017 and in particular, the two month extension relates to the longstop dates referred to in the announcement of 24 February 2017.
 
Chief Executive Karl Smithson commented:

"Stellar is undergoing a transformation from an explorer to a mine developer. I would like to thank the Noteholders for their continued support as we progress towards the commercial development of the 4.5million carat Tongo-Tonguma underground kimberlite diamond mine in Sierra Leone. We have made key advances in recent weeks in terms of signing the binding Tribute Mining Agreement and signing the contract for the Front End Engineering and Design for the initial mine development. With a low capex requirement of US$32 million, the proposed Tongo-Tonguma mine has the potential to be the second largest kimberlite diamond mine in West Africa, with forecast production levels of 200,000 carats per annum, generating revenues of over US$45 million per annum over a minimum life of mine of 21 years. I look forward to updating shareholders on our progress."  
 
Note on Related Party Transaction
For the avoidance of doubt, other than as set out in this announcement, all other terms of the CLNs remain in force. By virtue of Deutsche Balaton being a substantial shareholder of the Company and Steven Poulton being a non-executive Director of the Company, the amendments above constitute related party transactions under the AIM Rules for Companies. The Directors who are independent of the CLNs and associated warrants consider, having consulted with the Company's Nominated Adviser, that the amended terms of the CLNs are fair and reasonable in so far as the Company's shareholders are concerned.

http://www.moneyam.com/action/news/showArticle?id=5543718

5 June 2017
AIM: STEL
Stellar Diamonds plc
 
Agreement to Sell Guinea Assets for US$2 million
Receipt of US$250,000 Exclusivity Fee
 
Stellar Diamonds plc, the diamond development company focused on West Africa, announces that it has entered into a conditional binding Term Sheet with BDG Capital Limited ("BDG") in relation to the proposed sale of Stellar's assets in the Republic of Guinea.
 
Highlights:
·      US$2,000,000 cash consideration price for Guinea assets
·      US$250,000 cash has been received (part of the consideration price) as an exclusivity fee ("Exclusivity Fee")
·      Exclusivity period of two months for due diligence and completion of documentation
·      Joint Venture Agreement over Baoulé and Liberia with Citigate terminated
·      Proceeds will be used to advance the development of the Company's flagship Tongo-Tonguma mine development in Sierra Leone
 
Chief Executive Karl Smithson commented:
"Subject to BDG satisfactorily completing its due diligence, this binding terms sheet should see Stellar realise some US$2 million in cash for its non-core projects in Guinea, representing approximately two thirds of our current market capitalisation.
 
"The proceeds will be used to advance the development of our flagship Tongo-Tonguma kimberlite project in Sierra Leone; a project that has an estimated post-tax NPV(8) of US$104 million attributable to Stellar.
 
"The proposed Tongo-Tonguma mine has a low capex requirement of US$32 million and the potential to be the second largest kimberlite diamond mine in West Africa - with forecast production levels of 200,000 carats per annum, generating revenues of over US$45 million per annum over a minimum life of mine of 21 years.
 
"The proposed disposal of our Guinea assets allows management to focus on the Tongo - Tonguma mine development in Sierra Leone.  It also allows for BDG to take the projects forward which is in the interests of Guinea and local stakeholders.
 
"We look forward to unlocking the significant value that we believe is inherent in the Tongo-Tonguma development as we advance the Company towards sustained commercial production."
 
The disposal comprises certain plant and equipment as well as the shares in subsidiary companies Ressources Tassiliman Baoulé (75% interest in the Baoulé project), Ressources Mandala Guinee (100% interest in the Mandala project) and West African Diamonds (100% interest in the Droujba project), collectively termed "the Guinea Projects".  Further detail on these assets is set out in the competent person's report which was announced on 31 October 2016 and which is available on the Company's website. Segmental information regarding the results and net book value of these assets is available in the Company's announcement of its interim results made on 31 March 2017.
 
Terms Sheet
The terms sheet with BDG Capital Limited, which is binding subject to BDG completing its due diligence satisfactorily, allows for a two month due diligence period during which time it is anticipated (although there can be no guarantee) the necessary share purchase agreements transferring Stellar's shares in its Guinea Projects to BDG will be completed. The final consideration price has been agreed at US$2,000,000 of which US$250,000 has been advanced to Stellar to ensure exclusivity for BDG to complete its due diligence.  Should Stellar withdraw from the proposed agreement and if the agreed terms are materially the same, then the exclusivity fee will be reimbursed to BDG in either cash or Stellar's shares at a price to be determined. However, BDG if proposes to materially amend the terms following due diligence and Stellar as a consequence withdraws then the exclusivity fee shall not be reimbursed. In the event that BDG decides not to continue with the transaction, the exclusivity fee of US$250,000 is not refundable to BDG.
 
Termination of Joint Venture Agreements with Citigate Commodities Trading (Citigate)
When the joint venture agreements (JVA's) were signed between Stellar and Citigate in November 2016 various warranties were made by Citigate to Stellar, including that Citigate had the necessary funding and authorisations to enter into the JVA's. This included a contractual payment to Stellar of US$150,000 as a management fee as a condition precedent to completion of the JVA's. To this date neither the project funding nor the management fee have been received from Citigate. Stellar has accepted such material breach as repudiatory and terminated the JVA's.

http://www.moneyam.com/action/news/showArticle?id=5561300

8 June 2017 
AIM: STEL
Stellar Diamonds plc
 
Directors' Dealings
 
On 7 June 2017, the Company received notification that Karl Smithson, Chief Executive Officer, transferred ordinary shares of 1 pence each ("Ordinary Shares") from a nominee account in his personal name to a Personal ISA and also into a Personal ISA of Helen Olivia Smithson, his daughter.
 
A total of 389,844 shares were sold at a price of 5.50p per share and total of 360,907 shares were purchased into the ISA of Karl Smithson and 27,839 shares were purchased into the ISA of Helen Smithson, both purchases at a price of 5.51p per share.  As a result of the small price spread in the transfer the total beneficial holding of Karl Smithson subsequent to transfer is now 1,117,012 shares, (being 2.61% of the Company's issued share capital). 
 
The issued share capital of the Company remains at 42,721,618.

http://www.moneyam.com/action/news/showArticle?id=5563810