Stellar Diamonds has sent its first diamond parcel of some 941 carats to Antwerp for processing. The diamonds were produced from the Baoulé mine situated in the Aredor diamond district of Guinea. The parcel includes gem diamonds ranging from 4.3 carats to 9.2 carats and sales are expected in the near future.

“This first diamond export from Baoulé is a milestone for the Company ahead of realising our first cash-flow which is expected when the goods are sold in the near future”.

Said Stellar Diamonds Chief Executive Karl Smithson. He added:

“We are particularly pleased with the regular occurrence of gem quality stones of up to 9 carats in size from the limited processing to date. As this region of Guinea is renowned for its large diamonds of over 100 and 200 carats in size mined from alluvial mining, we are hopeful that we may recover yet larger, high value diamonds as we continue to process higher volumes of kimberlite over the coming months”.

Production targets met

The throughput has reached an average of approximately 55 tonnes per hour, which, if maintained, will yield 22,000 tonnes per month. The target production of 2,000 carats per month is now expected to be met.

Stellar had the stated objective of generating early cash flow to determine the diamond grades and value. The announcement today fulfils that expectation.

Potential of the mine

The project, which has open pit mine potential, is located in the heart of the Aredor diamond district of Guinea which has historically yielded very large, high value diamonds from alluvial mining. Stellar has an internal resource estimate for Baoulé of at least 3 million carats at the lower end of the grade scale of between 13-40cpht with a diamond value in excess of US$200/ct and so the Company are excited to further unlock the value in this high tonnage (22Mt target) project.