24 Mar 2015 07:00
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
24 March 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
First Diamond Sales and Revenues
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, is pleased to announce that it has sold 4,414 carats of diamonds in Antwerp for gross revenues of US$417,122. The sale included excellent quality white stones, with a value of US$5,000 per carat achieved for one particular five carat stone.
The Company withheld 1,617 carats from the sale as the bid prices were not considered acceptable. These goods will be added to future exports and be offered for sale at a later date.
The Company is pleased with the revenues generated from the sale in what remains a challenging market for rough diamonds. Future sales will be targeted for optimum selling windows with the next sale from Stellar's operations planned for May 2015. Further announcements will be made in due course as and when significant diamond exports or diamond sales occur.
About Stellar Diamonds plc
Stellar is an AIM quoted (AIM: STEL) West African focused diamond development company which has commenced trial mining of its Baoulé kimberlite in Guinea, and is progressing the 1.45 million carat Tongo Dyke-1 resource in Sierra Leone through a definitive feasibility study. 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.
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For further information contact the following or visit the Company's website at www.stellar-diamonds.com.
Karl Smithson, CEO Philip Knowles, CFO | Stellar Diamonds plc Stellar Diamonds plc | Tel: +44 (0) 20 7010 7686 Tel: +44 (0) 20 7010 7686 |
Colin Rowbury Jo Turner Emma Earl | Daniel Stewart & Company plc (Broker) Cairn Financial Advisers (Nomad) | Tel: +44 (0) 20 7776 6550 Tel: +44 (0) 20 7148 7900 |
Lottie Brocklehurst | St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
Charlotte Heap Hugo De Salis |