Stellar Diamonds interim results for the six months to 31 December 2013 highlight significant progress made at highly prospective West African portfolio on path to diamond production.
The period under review has seen a number of positive advancements as Stellar Diamonds looks to build shareholder value through the de-risking and development of its portfolio of diamond projects in West Africa, in particular at its two highly prospective core projects.
These include the high-grade 1.1 million carat JORC resource Tongo Kimberlite Dyke Project in Sierra Leone, which offers outstanding gem quality diamonds at a high diamond grade and the newly acquired Baoulé Kimberlite Pipe project, located in the prolific Aredor region of Guinea.
Stellar Diamonds is currently conducting a definitive feasibility study at Tongo while Baoulé is a longer term project but has the potential to be a “game-changer”, offering the potential of a multi-million carat resource at substantially high diamond values.
“We are delighted by the progress made at our flagship high grade Tongo project over the period which shows robust economics justifying the board’s decision to advance the project to the feasibility study phase,” said Stellar Diamonds Chief Executive Karl Smithson.
“The addition of the Baoulé kimberlite to our portfolio is an exciting development as the diamondiferous pipe offers significant potential in the form of a large diamond resource with high diamond values. Having already delivered on several significant milestones during 2013, we look forward to the year ahead as we aim to further unlock the potential and advance towards our goal of becoming a diamond producer in West Africa.”