Stellar Diamonds Plans to Enlarge Boulé Diamond Parcel Awaiting Sale in Antwerp

(IDEX Online News) – Though Stellar Diamonds plc undertook its first diamond export of 941 carats from its 75-percent owned Baoulé mine in Guinea to Antwerp in December 2014, due to the onset of the end-of-year holidays in Antwerp, the sale of this parcel was deferred until this month to coincide with the resumption of buying activity in the trading center.

In light of the delay, Stellar says that it plans to export to Antwerp a second parcel of approximately 1,250 carats from Baoulé in the first half of this month to increase the size of the Baoulé parcel currently held there and awaiting sale. The increased parcel will contain approximately 2,200 carats.

Additionally, Stellar says that it will also offer approximately 3,700 carats from its diamond inventory for sale this month in order to maximize total revenues from the first January sale process.

During 2015, the company expects to export and sell goods every two months to generate regular cash flow as well as to determine with a high degree of confidence the diamond grade, value and frequency of large, high-value diamonds from the Baoulé kimberlite pipe.

In other company news, trial mining at Baoulé has yielded a total of 2,145 carats to date at an average grade of 14.6 carats per hundred tonne (cpht). A total of 138 stones greater than 1 carat have been recovered as well as numerous gem diamonds ranging from more than 5 carats to 9.2 carats. Gem and near-gem diamonds represent approximately 60 percent of the diamond population recovered.

In addition to Baoulé, the company also holds the Droujba project in Guinea and continues to pursue diplomatic channels to ensure the proper reinstatement of its Kono licenses in Sierra Leone.