Warning (2): mssql_query() [function.mssql-query]: Some character(s) could not be converted into client's character set. Unconverted bytes were changed to question marks ('?') (severity 4) [CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 181]
$sql = "SELECT TOP 90 [Brokerpress].[comment] AS [Brokerpress__0], CAST(Brokerpress.date AS datetime) AS [date] FROM [brokerpress] AS [Brokerpress] WHERE [Brokerpress].[epic] = 'STEL' ORDER BY [Brokerpress].[date] DESC"
mssql_query - [internal], line ?? DboMssql::_execute() - CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 181 DboSource::execute() - CORE/cake/libs/model/datasources/dbo_source.php, line 190 DboSource::fetchAll() - CORE/cake/libs/model/datasources/dbo_source.php, line 338 DboSource::read() - CORE/cake/libs/model/datasources/dbo_source.php, line 655 DboMssql::read() - CORE/cake/libs/model/datasources/dbo/dbo_mssql.php, line 643 Model::find() - CORE/cake/libs/model/model.php, line 2031 Controller::paginate() - CORE/cake/libs/controller/controller.php, line 1095 AppController::paginate() - APP/app_controller.php, line 272 AppController::fetch() - APP/app_controller.php, line 320 RssController::all_news() - APP/plugins/profiles/controllers/rss_controller.php, line 128 Object::dispatchMethod() - CORE/cake/libs/object.php, line 116 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 227 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 2]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1720",
"epic" => "STEL",
"name" => "Stellar Diamonds",
"is_sponsor" => "1",
"international_sponsorship" => "UK"
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "120521stel7556d",
"title" => "RNS press release - Replacement Result of EGM",
"pubdate" => "2012-05-21 12:03:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/"
),
array(
"id" => "120521stel7508d",
"title" => "RNS press release - Result of EGM",
"pubdate" => "2012-05-21 11:37:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/"
),
array(
"id" => "42316",
"title" => "News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker",
"pubdate" => "2012-05-03 10:22:00",
"seftitle" => "stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html",
"description" => "<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html"
),
array(
"id" => "42319",
"title" => "News - Stellar Diamonds placing highlights investors' continued confidence, says broker",
"pubdate" => "2012-05-03 09:00:00",
"seftitle" => "stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html",
"description" => "<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html"
),
array(
"id" => "42279",
"title" => "News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing",
"pubdate" => "2012-05-02 13:16:00",
"seftitle" => "stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html"
),
array(
"id" => "120502stel5825c",
"title" => "RNS press release - Proposed Placing and Capital Reorganisation",
"pubdate" => "2012-05-02 12:30:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/"
),
array(
"id" => "41415",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE",
"pubdate" => "2012-04-12 18:15:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html",
"description" => "<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html"
),
array(
"id" => "41384",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" ",
"pubdate" => "2012-04-12 09:01:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html",
"description" => "<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html"
),
array(
"id" => "120412stel1910b",
"title" => "RNS press release - Results from Lion-5 Kimberlite in Kono",
"pubdate" => "2012-04-12 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/"
),
array(
"id" => "41030",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE",
"pubdate" => "2012-04-02 15:12:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html"
),
array(
"id" => "41010",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba, shares rise",
"pubdate" => "2012-04-02 08:55:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html",
"description" => "<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html"
),
array(
"id" => "120402stel5466a",
"title" => "RNS press release - Significant Maiden Diamond Resource at Droujba",
"pubdate" => "2012-04-02 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/"
),
array(
"id" => "40733",
"title" => "News - Stellar Diamonds soars after Tongo resource wows brokers - Update",
"pubdate" => "2012-03-26 14:56:00",
"seftitle" => "stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html",
"description" => "<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html"
),
array(
"id" => "40704",
"title" => "News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value",
"pubdate" => "2012-03-26 07:52:00",
"seftitle" => "stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html"
),
array(
"id" => "120326stel0181a",
"title" => "RNS press release - Significant Maiden Diamond Resource",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/"
),
array(
"id" => "39265",
"title" => "News - Stellar Diamonds says first results from Droujba are “encouraging”",
"pubdate" => "2012-02-22 07:35:00",
"seftitle" => "stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html",
"description" => "<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html"
),
array(
"id" => "120222stel8596x",
"title" => "RNS press release - Droujba bulk sampling update",
"pubdate" => "2012-02-22 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/"
),
array(
"id" => "38651",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE",
"pubdate" => "2012-02-06 13:47:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html",
"description" => "<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html"
),
array(
"id" => "38626",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project",
"pubdate" => "2012-02-06 08:09:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html",
"description" => "<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html"
),
array(
"id" => "120206stel8249w",
"title" => "RNS press release - Kono bulk sampling diamond grade results",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 2 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 3]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1720",
"epic" => "STEL",
"name" => "Stellar Diamonds",
"is_sponsor" => "1",
"international_sponsorship" => "UK"
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "120521stel7556d",
"title" => "RNS press release - Replacement Result of EGM",
"pubdate" => "2012-05-21 12:03:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/"
),
array(
"id" => "120521stel7508d",
"title" => "RNS press release - Result of EGM",
"pubdate" => "2012-05-21 11:37:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/"
),
array(
"id" => "42316",
"title" => "News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker",
"pubdate" => "2012-05-03 10:22:00",
"seftitle" => "stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html",
"description" => "<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html"
),
array(
"id" => "42319",
"title" => "News - Stellar Diamonds placing highlights investors' continued confidence, says broker",
"pubdate" => "2012-05-03 09:00:00",
"seftitle" => "stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html",
"description" => "<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html"
),
array(
"id" => "42279",
"title" => "News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing",
"pubdate" => "2012-05-02 13:16:00",
"seftitle" => "stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html"
),
array(
"id" => "120502stel5825c",
"title" => "RNS press release - Proposed Placing and Capital Reorganisation",
"pubdate" => "2012-05-02 12:30:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/"
),
array(
"id" => "41415",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE",
"pubdate" => "2012-04-12 18:15:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html",
"description" => "<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html"
),
array(
"id" => "41384",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" ",
"pubdate" => "2012-04-12 09:01:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html",
"description" => "<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html"
),
array(
"id" => "120412stel1910b",
"title" => "RNS press release - Results from Lion-5 Kimberlite in Kono",
"pubdate" => "2012-04-12 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/"
),
array(
"id" => "41030",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE",
"pubdate" => "2012-04-02 15:12:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html"
),
array(
"id" => "41010",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba, shares rise",
"pubdate" => "2012-04-02 08:55:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html",
"description" => "<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html"
),
array(
"id" => "120402stel5466a",
"title" => "RNS press release - Significant Maiden Diamond Resource at Droujba",
"pubdate" => "2012-04-02 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/"
),
array(
"id" => "40733",
"title" => "News - Stellar Diamonds soars after Tongo resource wows brokers - Update",
"pubdate" => "2012-03-26 14:56:00",
"seftitle" => "stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html",
"description" => "<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html"
),
array(
"id" => "40704",
"title" => "News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value",
"pubdate" => "2012-03-26 07:52:00",
"seftitle" => "stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html"
),
array(
"id" => "120326stel0181a",
"title" => "RNS press release - Significant Maiden Diamond Resource",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/"
),
array(
"id" => "39265",
"title" => "News - Stellar Diamonds says first results from Droujba are “encouraging”",
"pubdate" => "2012-02-22 07:35:00",
"seftitle" => "stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html",
"description" => "<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html"
),
array(
"id" => "120222stel8596x",
"title" => "RNS press release - Droujba bulk sampling update",
"pubdate" => "2012-02-22 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/"
),
array(
"id" => "38651",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE",
"pubdate" => "2012-02-06 13:47:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html",
"description" => "<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html"
),
array(
"id" => "38626",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project",
"pubdate" => "2012-02-06 08:09:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html",
"description" => "<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html"
),
array(
"id" => "120206stel8249w",
"title" => "RNS press release - Kono bulk sampling diamond grade results",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 3 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
Warning (2): Cannot modify header information - headers already sent by (output started at /home/paiuk/public_html/cake/basics.php:111) [APP/views/layouts/rss.ctp, line 4]
$___viewFn = "/home/paiuk/public_html/app/views/layouts/rss.ctp"
$___dataForView = array(
"facebookSession" => 0,
"searchHeader_limit" => null,
"company" => array(
"Company" => array()
),
"brokerpresses" => array(
array(),
array(),
array()
),
"items" => array(
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array(),
array()
),
"title_for_layout" => "Rss",
"content_for_layout" => "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
",
"scripts_for_layout" => "",
"cakeDebug" => "",
"javascript" => JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL,
"html" => HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL,
"time" => TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL,
"form" => FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object,
"pai" => PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object,
"session" => SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles",
"profile" => ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object,
"paginator" => PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object,
"ajax" => AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper object
)
$loadHelpers = false
$cached = true
$loadedHelpers = array()
$facebookSession = 0
$searchHeader_limit = null
$company = array(
"Company" => array(
"id" => "1720",
"epic" => "STEL",
"name" => "Stellar Diamonds",
"is_sponsor" => "1",
"international_sponsorship" => "UK"
)
)
$brokerpresses = array(
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
),
array(
"Brokerpress" => array()
)
)
$items = array(
array(
"id" => "120521stel7556d",
"title" => "RNS press release - Replacement Result of EGM",
"pubdate" => "2012-05-21 12:03:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/"
),
array(
"id" => "120521stel7508d",
"title" => "RNS press release - Result of EGM",
"pubdate" => "2012-05-21 11:37:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/"
),
array(
"id" => "42316",
"title" => "News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker",
"pubdate" => "2012-05-03 10:22:00",
"seftitle" => "stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html",
"description" => "<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html"
),
array(
"id" => "42319",
"title" => "News - Stellar Diamonds placing highlights investors' continued confidence, says broker",
"pubdate" => "2012-05-03 09:00:00",
"seftitle" => "stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html",
"description" => "<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html"
),
array(
"id" => "42279",
"title" => "News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing",
"pubdate" => "2012-05-02 13:16:00",
"seftitle" => "stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html"
),
array(
"id" => "120502stel5825c",
"title" => "RNS press release - Proposed Placing and Capital Reorganisation",
"pubdate" => "2012-05-02 12:30:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/"
),
array(
"id" => "41415",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE",
"pubdate" => "2012-04-12 18:15:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html",
"description" => "<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html"
),
array(
"id" => "41384",
"title" => "News - Stellar Diamonds believes legal tenure over Kono licences "intact" ",
"pubdate" => "2012-04-12 09:01:00",
"seftitle" => "stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html",
"description" => "<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html"
),
array(
"id" => "120412stel1910b",
"title" => "RNS press release - Results from Lion-5 Kimberlite in Kono",
"pubdate" => "2012-04-12 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/"
),
array(
"id" => "41030",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE",
"pubdate" => "2012-04-02 15:12:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html"
),
array(
"id" => "41010",
"title" => "News - Stellar Diamonds reports maiden resource for Droujba, shares rise",
"pubdate" => "2012-04-02 08:55:00",
"seftitle" => "stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html",
"description" => "<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html"
),
array(
"id" => "120402stel5466a",
"title" => "RNS press release - Significant Maiden Diamond Resource at Droujba",
"pubdate" => "2012-04-02 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/"
),
array(
"id" => "40733",
"title" => "News - Stellar Diamonds soars after Tongo resource wows brokers - Update",
"pubdate" => "2012-03-26 14:56:00",
"seftitle" => "stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html",
"description" => "<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html"
),
array(
"id" => "40704",
"title" => "News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value",
"pubdate" => "2012-03-26 07:52:00",
"seftitle" => "stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html"
),
array(
"id" => "120326stel0181a",
"title" => "RNS press release - Significant Maiden Diamond Resource",
"pubdate" => "2012-03-26 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/"
),
array(
"id" => "39265",
"title" => "News - Stellar Diamonds says first results from Droujba are “encouraging”",
"pubdate" => "2012-02-22 07:35:00",
"seftitle" => "stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html",
"description" => "<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html"
),
array(
"id" => "120222stel8596x",
"title" => "RNS press release - Droujba bulk sampling update",
"pubdate" => "2012-02-22 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/"
),
array(
"id" => "38651",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE",
"pubdate" => "2012-02-06 13:47:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html",
"description" => "<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html"
),
array(
"id" => "38626",
"title" => "News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project",
"pubdate" => "2012-02-06 08:09:00",
"seftitle" => "stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html",
"description" => "<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html"
),
array(
"id" => "120206stel8249w",
"title" => "RNS press release - Kono bulk sampling diamond grade results",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/"
)
)
$title_for_layout = "Rss"
$content_for_layout = "<channel>
<title>Proactiveinvestors United Kingdom Stellar Diamonds</title>
<link>http://www.proactiveinvestors.co.uk</link>
<description>Proactiveinvestors United Kingdom Stellar Diamonds RSS feed
</description>
<language>en</language>
<pubDate>Thu, 24 May 2012 08:32:45 +0100</pubDate>
<docs>http://blogs.law.harvard.edu/tech/rss</docs>
<generator>Genera CMS</generator>
<managingEditor>action@proactiveinvestors.com (Proactiveinvestors)</managingEditor>
<webMaster>action@proactiveinvestors.com (Proactiveinvestors)</webMaster>
<atom:link href="http://www.proactiveinvestors.co.uk/LON:STEL/Stellar-Diamonds/all_news" rel="self" type="application/rss+xml" />
<item>
<title><![CDATA[RNS press release - Replacement Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 12:03:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7556d/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Result of EGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 21 May 2012 11:37:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120521stel7508d/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds' £2mln fundraise highlights continued investor confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</link>
<description><![CDATA[<p>Broker Northland says <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>' (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) completion of a £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<p>The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.</p>
<p>Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."</p>
<p>It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.</p>
<p>In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.</p>
<p>Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".</p>
<p>The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).</p>
<p>Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.</p>
<p> </p> ]]></description>
<pubDate>Thu, 03 May 2012 10:22:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42316/stellar-diamonds-2mln-fundraise-highlights-continued-investor-confidence-says-broker-42316.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds placing highlights investors' continued confidence, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</link>
<description><![CDATA[<p> </p>
<p>Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 03 May 2012 09:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42319/stellar-diamonds-placing-highlights-investors-continued-confidence-says-broker-42319.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds to advance Droujba and Tongo projects with £2 million placing ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.</p>
<p>The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.</p>
<p>The company, Northland Capital Partners and <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.</p>
<p>Stellar shares are currently trading at 3.13 pence each.</p>
<p>The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.</p>
<p>"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."</p>
<p>At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.</p>
<p>Stellar said that £1 million will be used for working capital.</p>
<p>Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.</p>
<p>Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.</p>
<p>Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry. </p>
<p>In association with the placing, there will also be a capital reorganisation. </p>
<p>Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.</p>
<p>In a note following the announcement, broker <a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a>, said: "We view the success of this placing as a positive affirmation of <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."</p>
<p>Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 13:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42279/stellar-diamonds-to-advance-droujba-and-tongo-projects-with-2-million-placing-42279.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Proposed Placing and Capital Reorganisation ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502stel5825c/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</link>
<description><![CDATA[<p>Sierra Leone's Ministry of Mines claims the company's two licences in the Kono district should not have been renewed. Stellar disputes this and is seeking clarification.</p>
<div><br /></div>
<p> </p>]]></description>
<pubDate>Thu, 12 Apr 2012 18:15:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41415/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact-update-41415.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds believes legal tenure over Kono licences "intact" ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</link>
<description><![CDATA[<div><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) shares tumbled today after a claim by Sierra Leone’s Ministry of Mines that its two licences in the Kono district should not have been renewed.</div>
<div><br /></div>
<div>Stellar disputes the assertion and said it is seeking clarification of the position with the Ministry. </div>
<div><br /></div>
<div>"The letter from the ministry asserts that the ministry ought not to have granted the renewals of the company's licences in 2010 under the Mines and Minerals Act of 2009 and that as a result the company no longer has mineral rights over the licences," said Stellar today.</div>
<div><br /></div>
<div>The company added it had operated over the licences since they were initially granted in 2005 in accordance with the law, including the most recent annual renewal dated on May 25 last year and it submitted renewals for 2012 last November.</div>
<div><br /></div>
<div>
<div>The company added it had has not received any similar correspondence on the Tongo exploration licence, which was also renewed in November 2011 on the same basis as the Kono licences.</div>
</div>
<div><br /></div>
<div>Chief executive Karl Smithson said today: "Whilst this uncertainty is frustrating and unfortunate we strongly believe that our legal tenure over the Kono licences is intact and will be engaging with the Ministry of Mines to clarify and then satisfactorily resolve this issue.</div>
<div><br /></div>
<div>"Over the past 12 months we have been conducting exploration and bulk sampling over the Lion kimberlite dyke project which is strategically located in the Kono diamond district.</div>
<div><br /></div>
<div>"The company has recently announced independent resource estimates from our key projects of Droujba and Tongo where we have established an initial resource base of 2.5 million carats and 0.66 million carats respectively."</div>
<div><br /></div>
<div>In a separate statement, the company revealed final results from bulk sampling at Lion-5 kimberlite project on the 87 sq km Kono licence, which showed the diamond ore body is both high grade and high quality.</div>
<div><br /></div>
<div>It said 346 dry tonnes of kimberlite had been processed which yielded 312 carats for in-situ grade of 90 carats per hundred tonnes (cpht).</div>
<div><br /></div>
<div>Diamonds of 4.45 carats, 3.70 carats 3.22 carats, 3.07 carats and 3.0 carats were recovered from bulk sampling. A diamond value based on $220 per carat showed an in-situ value of $198 per tonne, the company said.</div>
<div><br /></div>
<div>Smithson said: "Based on these results, the company is planning a resource definition drilling campaign over Lion-5, as well as the nearby Pol-K kimberlite, in order to establish a significant maiden resource for the Kono project.</div>
<div><br /></div>
<div>"Over $19m has been invested to date on the Kono licences by Stellar and our former joint venture partners. This has resulted in the systematic exploration of the dyke swarm, including a high resolution geophysical survey and a number of test shafts being sunk to up to 85m depth for bulk sampling."</div>
<div><br /></div>
<div>Shares were down 30 per cent at 4.19 pence.</div> ]]></description>
<pubDate>Thu, 12 Apr 2012 09:01:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41384/stellar-diamonds-believes-legal-tenure-over-kono-licences-intact--41384.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Results from Lion-5 Kimberlite in Kono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 12 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120412stel1910b/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba; shares rise - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br />Shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted today after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."<br /><br />Broker Northland noted that this maiden resource at Droujba was another encouraging milestone adding to the recent JORC resource announced for Tongo.<br /><br />"Both announcements are evidence of successful delivery against expectations, with the projects delivered on time and within budget, said analyst Dr Ryan Long.<br /><br />He also highlighted that the per tonne value of around $56 per tonne compared favourably to costs of potentially under $15 per tonne for the open-pittable element of the resource.<br /><br />Dr Long said the current 1.5 million carats were lower than the broker's expectation of 4.3 million carats due to lower grade of 87cpht versus the broker's expectation of 100 cpht.<br /><br />"However, management expects to increase this initial resource through additional drilling, with the addition of the neck excluded from this estimate and given the resource is open at depth beneath 360m.<br /><br />"In light of the maiden resource at both Tongo and Droujba, our 15.1p price target is under review," he added.<br /><br />As at 3pm, shares in the company were up 1.75 per cent, to trade at 7.25 pence</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 15:12:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41030/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-update-41030.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports maiden resource for Droujba, shares rise ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</link>
<description><![CDATA[<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) were lifted in opening trade after the group reported a significant maiden resource for the Droujba kimberlite pipe in Guinea.<br /><br />The JORC compliant study puts the Droujba resource at 2.474 million carats in the inferred category, with a grade of 70 carats per hundred tonnes (cpht). <br /><br />Together with the maiden resource announced on the high grade Tongo kimberlite dyke project in Sierra Leone, this takes Stellar's initial global resource base to 3.1 million carats.<br /> <br />The news sent Stellar shares rising and by 8.52 am, they were trading up 7 per cent at 7.625 pence.<br /><br />The company estimates the current in-situ value of the contained diamonds between US$124 and US$192 million.<br /><br />This maiden resource is defined to a depth of 360 metres below surface and there is additional resource potential from Droujba and other kimberlites in the licence area.<br /><br />The pipe has been drilled to 414 metres depth and remains open below that level.<br /><br />The volume of pipe between 160 and 190 metres has not yet been declared a resource and contains an estimated, non-JORC 400,000 carats which requires further delineation drilling.<br /><br />Resource drilling and bulk sampling of the adjacent 5 kilometre long Katcha Dyke which has a reported grade of approximately 100cpht, is not included in the mineral resource estimate.<br /><br />Chief Executive Karl Smithson said: "This resource base gives Stellar an excellent platform on which to build and we are currently planning aggressive programmes to increase our resources at Droujba, Tongo and at our Kono kimberlite dyke project where evaluation results for the high-grade Lion-5 kimberlite are expected to be announced in the near future.<br /> <br />"I am pleased to report that in the past twelve months Stellar has achieved all of its key milestones on time and within budget and going forward we have a clear strategy of value enhancement of our assets as we move projects through to the mining feasibility study stage."</p> ]]></description>
<pubDate>Mon, 02 Apr 2012 08:55:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41010/stellar-diamonds-reports-maiden-resource-for-droujba-shares-rise-41010.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource at Droujba ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 02 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120402stel5466a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds soars after Tongo resource wows brokers - Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</link>
<description><![CDATA[<p>
<p>Shares in <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.</p>
<p>The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/451/Daniel+Stewart" class="companyPopupTrigger" rel="451">Daniel Stewart</a> said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.</p>
<p>House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.</p>
<p>Fissures are currently the only actively mined kimberlite dykes being mined in the world. </p>
<p>The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.</p>
<p>At Fissures, the grade is 39cpht and the average diamond value is $255/ct. </p>
<p>Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.</p>
<p>The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km). </p>
<p>The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.</p>
<p>The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have. </p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p>
</p>
<p>Shares rose by 13 per cent to 7.25p.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 14:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40733/stellar-diamonds-soars-after-tongo-resource-wows-brokers-update-40733.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says JORC confirms Tongo project as high quality and high value ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.</p>
<p>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."</p>
<p>The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.</p>
<p>Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.</p>
<p>Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>.</p>
<p>He added that the project also had potential for major expansion and development.</p>
<p>“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface. </p>
<p>"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”</p>
<p>This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.</p>
<p>Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4, </p>
<p>Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.</p> ]]></description>
<pubDate>Mon, 26 Mar 2012 07:52:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40704/stellar-diamonds-says-jorc-confirms-tongo-project-as-high-quality-and-high-value-40704.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Significant Maiden Diamond Resource ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 26 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120326stel0181a/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds says first results from Droujba are “encouraging” ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</link>
<description><![CDATA[<p>Stellar Diamonds this morning delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in Guinea. The initial grade has been calculated at 60 carats per hundred tonnes, which includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats.</p>
<p> </p>]]></description>
<pubDate>Wed, 22 Feb 2012 07:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39265/stellar-diamonds-says-first-results-from-droujba-are-encouraging-39265.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Droujba bulk sampling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 22 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120222stel8596x/</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</link>
<description><![CDATA[<p><strong>---Adds broker comments and share price---</strong><br /><br />West Africa focused <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 sq km Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said.<br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length.<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht).<br /><br />Approximately 62 per cent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme.<br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.<br /><br />Analyst Dr Ryan Long, at broker Northland, said: "This is further good news for Stellar which has recently produced good results from bulk sampling at the Tongo project where a maiden resource estimate is expected Q112.<br /><br />"Results from the Lion-5 Dyke highlight the potential of the Kono project and, in our opinion, could lead to the recommencement of trial mining."<br /><br />The analyst added: "Overall we continue to believe <a href="http://proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a>’ shares are undervalued and maintain our price target of 15.1 pence per share, with the Kono project contributing 2.7 pence per share."<br /><br />Northland maintains its 'buy' rating on the stock.<br /><br />As at 1.45pm, shares in the company were up 2.04 per cent, to trade at 6.25 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 13:47:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38651/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-update-38651.html</guid>
</item>
<item>
<title><![CDATA[News - Stellar Diamonds reports encouraging diamond grades from Lion-5 kimberlite of Kono project ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</link>
<description><![CDATA[<p>West Africa focused <a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/Stellar+Diamonds" class="companyPopupTrigger" rel="1720">Stellar Diamonds</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1720/stellar-diamonds-1720.html" class="companyPopupTrigger" rel="1720">LON:STEL</a>) reported “encouraging” bulk sampling diamond grade results from the Lion-5 kimberlite dyke at its 87 square kilometre Kono diamond licence in eastern Sierra Leone.<br /><br />The results indicate that the Lion-5 kimberlite has significant exploration potential, the group said in a statement. <br /><br />Lion-5 kimberlite has been mapped over a distance of 1,990 metres to date, however based on satellite imagery and the presence of previous artisanal workings the kimberlite is expected to extend beyond this distance. The kimberlite was excavated by Stellar over a 60 metres length,<br /><br />Of the 400.59 tonnes extracted from the sample trench, 346.35 tonnes was calculated to be kimberlite. Stellar extracted some 243.8 carats from the sample for a +1mm in-situ dry grade of 70.39 carats per hundred tons (cpht). <br /><br />Approximately 62 percent of the diamonds recovered are classified as gem quality, with the five largest stones recovered weighing 4.45ct, 3.22ct, 3.07ct, 3.00ct and 2.57ct.<br /><br />Re-processing of the plant tailings at a smaller crusher setting remains to be completed so it is likely that more carats will be recovered from the sample and hence the calculated diamond grade will increase, Stellar said.<br /><br />Chief executive Karl Smithson said: “The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme. <br /><br />“The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant. It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential," he added.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:09:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38626/stellar-diamonds-reports-encouraging-diamond-grades-from-lion-5-kimberlite-of-kono-project-38626.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Kono bulk sampling diamond grade results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206stel8249w/</guid>
</item>
</channel>
"
$scripts_for_layout = ""
$cakeDebug = ""
$javascript = JavascriptHelper
JavascriptHelper::$useNative = true
JavascriptHelper::$enabled = true
JavascriptHelper::$safe = false
JavascriptHelper::$tags = array
JavascriptHelper::$_blockOptions = array
JavascriptHelper::$_cachedEvents = array
JavascriptHelper::$_cacheEvents = false
JavascriptHelper::$_cacheToFile = false
JavascriptHelper::$_cacheAll = false
JavascriptHelper::$_rules = array
JavascriptHelper::$__scriptBuffer = NULL
JavascriptHelper::$helpers = NULL
JavascriptHelper::$base = ""
JavascriptHelper::$webroot = "/"
JavascriptHelper::$themeWeb = NULL
JavascriptHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
JavascriptHelper::$params = array
JavascriptHelper::$action = "all_news"
JavascriptHelper::$plugin = "profiles"
JavascriptHelper::$data = NULL
JavascriptHelper::$namedArgs = NULL
JavascriptHelper::$argSeparator = NULL
JavascriptHelper::$validationErrors = NULL
JavascriptHelper::$__tainted = NULL
JavascriptHelper::$__cleaned = NULL
JavascriptHelper::$_log = NULL
$html = HtmlHelper
HtmlHelper::$tags = array
HtmlHelper::$base = ""
HtmlHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
HtmlHelper::$params = array
HtmlHelper::$action = "all_news"
HtmlHelper::$data = NULL
HtmlHelper::$_crumbs = array
HtmlHelper::$__docTypes = array
HtmlHelper::$helpers = NULL
HtmlHelper::$webroot = "/"
HtmlHelper::$themeWeb = NULL
HtmlHelper::$plugin = "profiles"
HtmlHelper::$namedArgs = NULL
HtmlHelper::$argSeparator = NULL
HtmlHelper::$validationErrors = NULL
HtmlHelper::$__tainted = NULL
HtmlHelper::$__cleaned = NULL
HtmlHelper::$_log = NULL
$time = TimeHelper
TimeHelper::$helpers = NULL
TimeHelper::$base = ""
TimeHelper::$webroot = "/"
TimeHelper::$themeWeb = NULL
TimeHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
TimeHelper::$params = array
TimeHelper::$action = "all_news"
TimeHelper::$plugin = "profiles"
TimeHelper::$data = NULL
TimeHelper::$namedArgs = NULL
TimeHelper::$argSeparator = NULL
TimeHelper::$validationErrors = NULL
TimeHelper::$tags = array
TimeHelper::$__tainted = NULL
TimeHelper::$__cleaned = NULL
TimeHelper::$_log = NULL
$form = FormHelper
FormHelper::$helpers = array
FormHelper::$fieldset = array
FormHelper::$__options = array
FormHelper::$fields = array
FormHelper::$requestType = NULL
FormHelper::$base = ""
FormHelper::$webroot = "/"
FormHelper::$themeWeb = NULL
FormHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
FormHelper::$params = array
FormHelper::$action = "all_news"
FormHelper::$plugin = "profiles"
FormHelper::$data = NULL
FormHelper::$namedArgs = NULL
FormHelper::$argSeparator = NULL
FormHelper::$validationErrors = NULL
FormHelper::$tags = array
FormHelper::$__tainted = NULL
FormHelper::$__cleaned = NULL
FormHelper::$_log = NULL
FormHelper::$Html = HtmlHelper object
$pai = PaiHelper
PaiHelper::$helpers = array
PaiHelper::$base = ""
PaiHelper::$webroot = "/"
PaiHelper::$themeWeb = NULL
PaiHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaiHelper::$params = array
PaiHelper::$action = "all_news"
PaiHelper::$plugin = "profiles"
PaiHelper::$data = NULL
PaiHelper::$namedArgs = NULL
PaiHelper::$argSeparator = NULL
PaiHelper::$validationErrors = NULL
PaiHelper::$tags = array
PaiHelper::$__tainted = NULL
PaiHelper::$__cleaned = NULL
PaiHelper::$_log = NULL
PaiHelper::$Html = HtmlHelper object
PaiHelper::$Form = FormHelper object
PaiHelper::$Session = SessionHelper object
$session = SessionHelper
SessionHelper::$helpers = NULL
SessionHelper::$__active = true
SessionHelper::$valid = false
SessionHelper::$error = false
SessionHelper::$_userAgent = "1f2fc9be373728e645f0927cf473d35d"
SessionHelper::$path = "/"
SessionHelper::$lastError = NULL
SessionHelper::$security = "medium"
SessionHelper::$time = 1337844765
SessionHelper::$sessionTime = 1337868765
SessionHelper::$watchKeys = array
SessionHelper::$id = NULL
SessionHelper::$_log = NULL
SessionHelper::$base = ""
SessionHelper::$webroot = "/"
SessionHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
SessionHelper::$params = array
SessionHelper::$action = "all_news"
SessionHelper::$data = NULL
SessionHelper::$themeWeb = NULL
SessionHelper::$plugin = "profiles"
$profile = ProfileHelper
ProfileHelper::$helpers = array
ProfileHelper::$base = ""
ProfileHelper::$webroot = "/"
ProfileHelper::$themeWeb = NULL
ProfileHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
ProfileHelper::$params = array
ProfileHelper::$action = "all_news"
ProfileHelper::$plugin = "profiles"
ProfileHelper::$data = NULL
ProfileHelper::$namedArgs = NULL
ProfileHelper::$argSeparator = NULL
ProfileHelper::$validationErrors = NULL
ProfileHelper::$tags = array
ProfileHelper::$__tainted = NULL
ProfileHelper::$__cleaned = NULL
ProfileHelper::$_log = NULL
ProfileHelper::$Html = HtmlHelper object
ProfileHelper::$Paginator = PaginatorHelper object
ProfileHelper::$Pai = PaiHelper object
$paginator = PaginatorHelper
PaginatorHelper::$helpers = array
PaginatorHelper::$__defaultModel = NULL
PaginatorHelper::$options = array
PaginatorHelper::$base = ""
PaginatorHelper::$webroot = "/"
PaginatorHelper::$themeWeb = NULL
PaginatorHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
PaginatorHelper::$params = array
PaginatorHelper::$action = "all_news"
PaginatorHelper::$plugin = "profiles"
PaginatorHelper::$data = NULL
PaginatorHelper::$namedArgs = NULL
PaginatorHelper::$argSeparator = NULL
PaginatorHelper::$validationErrors = NULL
PaginatorHelper::$tags = array
PaginatorHelper::$__tainted = NULL
PaginatorHelper::$__cleaned = NULL
PaginatorHelper::$_log = NULL
PaginatorHelper::$Html = HtmlHelper object
PaginatorHelper::$Ajax = AjaxHelper object
$ajax = AjaxHelper
AjaxHelper::$helpers = array
AjaxHelper::$Html = HtmlHelper object
AjaxHelper::$Javascript = JavascriptHelper object
AjaxHelper::$callbacks = array
AjaxHelper::$ajaxOptions = array
AjaxHelper::$dragOptions = array
AjaxHelper::$dropOptions = array
AjaxHelper::$sortOptions = array
AjaxHelper::$sliderOptions = array
AjaxHelper::$editorOptions = array
AjaxHelper::$autoCompleteOptions = array
AjaxHelper::$__ajaxBuffer = array
AjaxHelper::$base = ""
AjaxHelper::$webroot = "/"
AjaxHelper::$themeWeb = NULL
AjaxHelper::$here = "/LON:STEL/Stellar-Diamonds/all_news"
AjaxHelper::$params = array
AjaxHelper::$action = "all_news"
AjaxHelper::$plugin = "profiles"
AjaxHelper::$data = NULL
AjaxHelper::$namedArgs = NULL
AjaxHelper::$argSeparator = NULL
AjaxHelper::$validationErrors = NULL
AjaxHelper::$tags = array
AjaxHelper::$__tainted = NULL
AjaxHelper::$__cleaned = NULL
AjaxHelper::$_log = NULL
AjaxHelper::$Form = FormHelper objectheader - [internal], line ?? include - APP/views/layouts/rss.ctp, line 4 View::_render() - CORE/cake/libs/view/view.php, line 667 View::renderLayout() - CORE/cake/libs/view/view.php, line 454 View::render() - CORE/cake/libs/view/view.php, line 388 Controller::render() - CORE/cake/libs/controller/controller.php, line 806 Dispatcher::_invoke() - CORE/cake/dispatcher.php, line 230 Dispatcher::dispatch() - CORE/cake/dispatcher.php, line 194 [main] - APP/webroot/index.php, line 91
The firm said yesterday it would use the funds to advance its key projects at Droujba in Guinea and Tongo in Sierra Leone.
Northland rates the stock a 'buy' and analyst Dr Ryan Long said today: "Stellar has completed a £2m fund raising despite the disappointing developments at the Kono project, highlighting continued investor confidence in the remaining projects."
It comes after the company revealed last month that Sierra Leone's Ministry of Mines had claimed the company's two licences in the Kono district should not have been renewed.
In Sierra Leone, the company has the Tongo licence as well as the two in the Kono district.
Stellar had disputed the assertion and said it was seeking clarification of the position with the Ministry.
In yesterday's announcement, the company said in regard to the Kono dispute that it was "continuing dialogue with the Government of Sierra Leone "to satisfactorily resolve the issue".
The cash call saw around 66.9 million company shares issued to institutional and other investors at 3 pence a share (current share price: 3.13 pence).
Stellar said it planned to carry out further drilling and bulk sampling to increase the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects.
At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.
Stellar said that £1 million will be used for working capital.
Dr Long said today he viewed the pre-feasibility study for Droujba and Tongo as a catalyst to move the company to producer from explorer.
]]>
Northland Capital says Stellar Diamonds' £2 million placing highlights investor confidence in the company's remaining programmes.
]]>
Stellar Diamonds (LON:STEL) says it will advance its key projects at Droujba and Tongo as it announced a placing to raise £2 million.
The aim of the cash call is to raise sufficient capital to develop the two projects and increase their total inferred resource base from 3.1 million carats, the firm said.
The company, Northland Capital Partners and Daniel Stewart have carried out the placing which sees around 66.9 million company shares issued to institutional and other investors at 3 pence a share.
Stellar shares are currently trading at 3.13 pence each.
The company's chief executive Karl Smithson said the firm was very pleased with the level of shareholder support.
"We expect to undertake further drilling and bulk sampling with the objective of increasing the company's resource base and commence pre-feasibility studies to determine the economic potential of these high grade projects."
At Droujba in Guinea, drilling and bulk sampling is planned using £0.6 million of the funds raised, while, at Tongo in Sierra Leone, further drilling and sampling will be carried out at a cost of £0.3 million.
Stellar said that £1 million will be used for working capital.
Smithson also updated investors today on the Kono licence dispute and said the company was "continuing dialogue with the Government of Sierra Leone" to satisfactorily resolve the issue.
Last month, the company revealed that the country's Ministry of Mines had claimed its two licences in the Kono district should not have been renewed.
Stellar disputed the assertion and said it was seeking clarification of the position with the Ministry.
In association with the placing, there will also be a capital reorganisation.
Both the placing and the reorganisation will be subject to a shareholder vote. Stellar said after the reorganisation, it will have the same number of shares in issue as before the shareholder meeting.
In a note following the announcement, broker Daniel Stewart, said: "We view the success of this placing as a positive affirmation of Stellar Diamonds experienced management team and recognises their work in developing their assets and the upside value of both the Droujba and Tongo projects."
Rating the stock a 'buy' with a target price of 21 pence, it said it would revisit its model and valuation following the release of Droujba and Tongo resource statements.
]]>
]]>
Shares in Stellar Diamonds (LON:STEL) soared as brokers hailed the maiden resource estimate for its Tongo project in Sierra Leone as a significant milestone.
The Africa- focused diamond group revealed a JORC compliant 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.
Daniel Stewart said the most important figures for investors to focus on are the very high grade and diamond price per carat, reflected in the quantity and quality of the resource of 120cpht and US$225 per carat.
House broker Northland meanwhile said it was reviewing its current price target of 15.1p and said parallels can be drawn between Stellar’s Tongo kimberlite dyke project and Petra Diamond’s long established Fissure Mines.
Fissures are currently the only actively mined kimberlite dykes being mined in the world.
The ROM grade at Tongo is likely to be c. 54cpht and the average diamond value is estimated to be between $225/ct to $270/ct.
At Fissures, the grade is 39cpht and the average diamond value is $255/ct.
Combined, this results in a higher value per ROM tonne from Tongo between $122/t and $146/t, compared to $99/t from the Fissures.
The Fissures have a combined strike length of 12.9km, at Tongo 1.9km of the 2.5km long Dyke-1 has been tested and there is further potential from other Dykes in the area (c. 2km).
The current depth of mining at Fissures is 750m at Tongo the resource extends to a depth of 200m - further drilling could extend the resource to a greater depth.
The Fissures have been in production for more than 50 years and have a remaining 15 years of mine life, demonstrating the longevity that kimberlite dyke operations can have.
Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."
Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for Stellar Diamonds.
He added that the project also had potential for major expansion and development.
“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface.
"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”
This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.
Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4,
Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.
Shares rose by 13 per cent to 7.25p.
]]>Karl Smithson, Stellar’s chief executive, said: "The high diamond grades and values exhibited by Dyke-1 make it one of the highest value kimberlites in terms of dollars per tonne worldwide."
The report, prepared by CAE Mining, showed a 660,000 carat inferred resource for Dyke-1 with a resource grade of 120 carats per hundred tonnes.
Stellar added that the diamonds’ value of between US$225 and US$270 meant an in-situ diamond value for the site so far of between US$148 million and US$178 million. Cut-off grades were +1.0mm.
Smithson added that the maiden inferred resource had confirmed the potential of the Tongo Kimberlite Dyke project and was a “significant milestone” for Stellar Diamonds.
He added that the project also had potential for major expansion and development.
“In addition there is 25% of the mapped strike of Dyke-1 yet to be drilled into the resource category and there is considerable potential to expand the resource with depth. Similar operational kimberlite dyke hosted diamond deposits in South Africa are mined to a depth of 700m below surface.
"Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109cpht and an average diamond value of $100 per carat.”
This maiden JORC inferred resource was based on a 1.9km section of the 2.5km long Dyke-1 kimberlite.
Stellar said there was a 600 metre section of Dkye-1 still yet to be drilled in addtion to the potential from deeper drilling to 700 metres and resource drilling of Dyke-4,
Drilling and bulk sampling of the 800m long Dyke-2, located only 200m to the north of Dyke-1, could also add to the resources, Stellar said.
]]>]]>