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Stellar Diamonds 'delighted' by progress at flagship Tongo project

Thu, 20th Mar 2014 14:06

Stellar Diamonds said it made a 'number of positive advancements' in the last six months of 2013. In particular, Chief Executive Karl Smithson was "delighted" by the progress made at the company's flagship high grade Tongo project, which he said shows "robust economics justifying the Board's decision to advance the project to the feasibility study phase".The Tongo Kimberlite Dyke Project in Sierra Leone project was commissioned to undertake an economic scoping study on Tongo Dyke-1, which was delivered on budget and on schedule in July 2013. Sample processing results to date have so far yielded 551.6 carats for an average grade of 126.3 carats per hundred tonnes (cpht). The diamonds have been classified with an average of 77.63% gem quality with several stones greater than 1 carat in size, including a 6.70 carat diamond discovered in the most recent sample.The company anticipates that these high grades will increase as further diamonds are recovered following re-processing. At the Baoulé project in Guinea, a joint venture was signed in December 2013 with Société Tassiliman.Development has commenced post period with a target to define a 3m carat resource by the end of 2014."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," Smithson concluded. Shares rose 1.22% to 2.08p at 14:20 on Thursday.RD
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26 Apr 2018 17:51

Stellar Diamonds Gains Court Approval To Be Acquired By Newfield (ALLISS)

LONDON (Alliance News) - Stellar Diamonds PLC said on Thursday the scheme for its acquisition by Newfield Resources Ltd has become effective with its sanction by the Court on Wednesday.Asa

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19 Apr 2018 16:28

Stellar Diamonds Shareholders Vote To Approve Acquistion By Newfield

LONDON (Alliance News) - Stellar Diamonds PLC said Thursday that at a general meeting Thursday all the resolutions were passed by more than 99% majorities regarding the acquisition of Stellar by a

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12 Mar 2018 10:57

Stellar Diamonds Confirms Terms Of Newfield Resources Takeover Offer

LONDON (Alliance News) - Shares in Stellar Diamonds PLC soared on Monday as the company said it has agreed final terms on the offer for the company by Newfield Resources is to

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6 Feb 2017 08:39

Angus Energy Buys Stake In Holmwood Prospect From Europa Oil (ALLISS)

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22 Dec 2016 11:18

Stellar Diamonds doubles FY loss, pursues transformational deal

(ShareCast News) - Stellar Diamonds has more than doubled its full-year pre-tax loss due to a significant rise in the impairment of intangibles, and says it is pursuing a transformational acquisition. "At the same time maintain exposure to our quality portfolio of diamond assets in West Africa," sai

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9 Nov 2016 09:21

Stellar Diamonds signs JVs for Guinea and Liberia projects

(ShareCast News) - AIM-listed Stellar Diamonds has agreed to joint ventures with Dubai-based Citigate Commodities Trading, over the miner's kimberlite project in Guinea and two exploration licences in Liberia. The joint ventures will allow the company to focus on the proposed Tongo-Tonguma transacti

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22 Aug 2016 09:49

Stellar Diamonds to acquire Octea Mining's Tonguma project in reverse take-over

(ShareCast News) - Stellar Diamonds announced that it would combine its operations in Sierra Leone to create the second-largest diamond mining operation in West Africa. The combination of Stellar's Tongo kimberlite diamond project with Octea Mining's adjacent Tonguma project would have an inferred J

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22 Aug 2016 07:02

Monday newspaper round-up: Brexit chaos, Nigeria oil, house prices, ITV-ETO

(ShareCast News) - Leaving the EU may not not happen anytime soon given that civil servants charged with the task don't yet have an office and hold meetings in Starbucks. Some estimates suggest "full Brexit" may take 10 years and involve up to 10,000 people, not only in the new and other so-called "

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19 Aug 2016 09:13

Stellar Diamonds shares suspended ahead of reverse take-over announcement

(ShareCast News) - Stellar Diamonds announced the LSE would suspend trading in its shares pending the announcement of a potential reverse takeover. Trading in shares of West Africa-focused Stellar would thus be suspended pending the submission of the prerequisite admission document, which in turn wo

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6 Jul 2016 08:07

Stellar Diamonds Gets USD228,000 From Baoule Diamond Auction

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13 Jun 2016 10:29

Stellar Diamonds Completes Baoule Trial Mining, Agrees Loan Facility

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31 May 2016 14:01

Stellar Diamonds updates on Tongo mining-licence application

(ShareCast News) - Stellar Diamonds has been verbally told its application for a mining licence over its 100%-owned Tongo project in Sierra Leone has approved by the Minerals Advisory Board there. The company said the licencing process remained subject to the National Minerals Agency formally writin

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31 May 2016 09:47

WINNERS & LOSERS SUMMARY: Alliance Trust Rises On RIT Approach

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31 May 2016 07:32

Stellar Diamonds Receives Initial Approval For Tongo Mine Licence

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29 Mar 2016 08:37

Stellar Diamonds Interim Loss Narrows As Pursuit For Funding Continues

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