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

Stellar Diamonds to sell first diamonds from Baoule

Stellar Diamonds to sell first diamonds from Baoule

The first diamond exports from its Baoulé mine have now been prepared and are ready for sale, Stellar Diamonds (LON:STEL) said today.

Trial mining is currently underway at the mine in Guinea and this first batch of approximately 2,350 carats will now be sold in Antwerp alongside approximately 3,700 carats from its other projects.

When sold, it will represent the first revenues from the planned cycle of exports during 2015 from Baoulé.

Though rough diamond prices have been soft since the final quarter of 2014, some producers have indicated that prices may now be stabilising, the company said.

In its annual statement, Lord Daresbury added the group expected cash flows a regular basis from Baoule throughout 2015.

Tongo, in Sierra Leone, is going through the feasibility stage and together with Baoulé and resources at its other projects, Stellar want to build a resource base of 7.5 mln carats, which it estimates would have an in-situ value of US$1bn currently.

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
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