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Stellar Diamonds poised for third Baoulé diamond sale

Stellar Diamonds told investors a third diamond sale of stones from trial mining at the Baoulé kimberlite project in Guinea will take place next month.
Stellar Diamonds poised for third Baoulé diamond sale
Antwerp's age-old diamond district is world famous

--ADDS SHARE RISE---

Stellar Diamonds (LON:STEL) told investors a third diamond sale of stones from trial mining at the Baoulé kimberlite project in Guinea will take place next month.

The miner has exported a parcel of 3,341 carats to diamond trading hub Antwerp in Belgium.

The sale is part of on-going trial mining evaluation of the Baoulé pipe.

So far around 8,830 carats have been recovered and two sales totaling 5,173 carats and generating revenues of over US$700,000 were completed in 2015.

The aim of the trial was to mine and process 100,000 tonnes of kimberlite, now over 70% complete and  yielding results in line with expectations, the group highlighted.

Based on the current grade realised and previous drilling, Stellar said it is still targeting a resource in the region of 3 million carats at Baoulé.

Shares added 5% on the day to stand at 10.5p.

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