Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

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.

View full STEL profile View Profile

Stellar Diamonds PLC Timeline

Related Articles

Bag of diamonds
July 06 2018
In a production update, the AIM-listed diamond miner said production in the first half of the year was up 81% year-on-year at 73,028 tonnes
Richland
April 03 2018
The strategic review aims to assess how the company can best leverage its position as the owner of one of the world's largest sapphire mines.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use