A 5.54 carat stone which Stellar Diamonds recovered from Baoule
A 5.54 carat stone which Stellar Diamonds recovered from the Baoulé kimberlite pipe in Guinea

Guinea – Stellar Diamonds, the AIM-listed West African diamond development company has generated US$505,000 from the auction of diamonds from its Baoulé kimberlite pipe in Guinea.

This brings sales to date for 2015 to over $922,000, of which $700,644 are derived from the trial mine evaluation of the 75% owned Baoulé.

Highlights from Baoulé sales:

  • 6 lots totalling 48.12cts of +5ct stones sold for $3 510.17/ carat ($168 909.23);
  • Revenue to date of $700,644 from 5,173 carats at an average of $135/carat;
  • Latest run of mine parcel of 2,822 carats realised an average price of $156/carat;
  • Trial mine evaluation continuing with the objective to yield 15,000 carats for sale and valuation

“We are delighted with the results from the latest diamond sale from Baoulé via the online auction eDiamond platform.  The presence of larger, high value stones and the stability in the rough diamond market has resulted in an average price of $156/carat for the latest Baoulé “run of mine” parcel,” says Stellar Diamonds Chief Executive Karl Smithson.

“Stellar’s total revenue from diamond sales in 2015 currently stands at $922,000, of which $700,000 is derived from Baoulé. Trial mining is on-going and further diamond sales are targeted for the coming year.”

In addition to Baoulé

Stellar is also progressing the 1,45 million carat Tongo Dyke-1 resource in Sierra Leone through the mining licence application process. In addition, Stellar holds the 3 million carat Droujba project in Guinea and continues to pursue diplomatic channels to ensure the proper reinstatement of its Kono licences in Sierra Leone.

Top Stories:

Impala Platinum terminates Marula disposal process

World’s leading diamond  miners form Diamond Producers Association

Lucara Diamonds looks for buyers for 342 carat in July exceptional stone tender