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Stellar Diamonds: Major investors show support with warrant exercise

Stellar Diamonds: Major investors show support with warrant exercise

Stellar Diamonds (LON:STEL) said it had raised £314,914 after two major investors exercised warrants.

The move reveals Foradex Invest and Hottinger remain supportive of the group, whose first project is the 1.1mln-carat resource Tongo Dyke-1 kimberlite project in Sierra Leone, which is currently undergoing a definitive feasibility study.

Chief executive Karl Smithson said: "The exercise of these warrants underpins the supportive nature of our major shareholders and the prospectively of our project portfolio, particularly Tongo where recent results from bulk sampling taken for the DFS were outstanding, and confirmed the continued high grade nature of the 1.1 million carat resource. 

“We are at an exciting juncture in the development of our company as we advance Tongo towards production and look forward to providing regular updates on the progress being made."

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