Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Stellar Diamonds says testing has begun ahead of trial at Guinea project

Stellar Diamonds said testing of its 100-tonne per hour dense media separation plant has begun ahead of trial mining at the Baoulé kimberlite project in Guinea next month.
Stellar Diamonds says testing has begun ahead of trial at Guinea project

Stellar Diamonds (LON:STEL) said testing of its 100-tonne per hour dense media separation plant has begun ahead of trial mining at the Baoulé kimberlite project in Guinea next month.

The objective is to process at least 100,000 tonnes of ore in order to estimate the diamond grade and average value. 

The process, it is hoped, will generate an internal resource statement as well as valuable cash flow, with the first sales expected to begin in fourth quarter.

The project is in the heart of the Aredor district, an area renowned for producing high value stones.

Stellar said waste stripping and ore extraction for stockpiling has already commenced.

Chief executive Karl Smithson added: "I am delighted that our team at Baoulé is continuing to deliver on schedule resulting in our processing plant now being fully constructed ahead of imminent trial mining. 

“Commissioning is underway to establish the optimal operating parameters for the plant, after which the first kimberlite ore will be processed. 

“Our objective is to process a very large sample which will not only establish the diamond grades and values with high levels of confidence, but also determine the presence of any large stones for which the Aredor region of Guinea is world renowned.  

“During this process any diamonds produced from trial mining will be sold in order to generate cash flow for the company.”


View full STEL profile View Profile

Stellar Diamonds PLC Timeline

Related Articles

rubies
June 14 2017
Fosun said its 40.85p a share offer is a "compelling cash alternative"
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.
picture of diamonds
November 06 2017
Kareevlei is comfortably among the world’s top ten kimberlite mines on a dollar per carat basis

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