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Stellar Diamonds Completes Maiden Sale of Baoulé Production

Apr 20, 2015 6:22 AM   By Deena Taylor
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RAPAPORT... Stellar Diamonds realized $195,000 or an average of $266 per carat, from the sale of 733 gem-quality diamonds recovered from trial mining at its Baoulé project in Guinea. The diamonds formed part of larger sale of 4,414 carats.

The sale included a 5.55-carat diamond that sold for $5,000 per carat and several diamonds which achieved over $1,000 per carat.

Stellar Diamonds' CEO, Karl Smithson, noted that good progress continues to be made from trial mining at Baoulé. "Our objective is to produce 15,000 carats from this exercise to enable us to determine the grade, value and presence of large stones in the pipe, with a view to using this information to consider a decision to advance Baoulé to commercial scale mining," he said.

The company also reported that it has recovered a total of 5,015 carats at Baoulé. including a 12.60-carat stone and a 10-carat diamond.

The company will hold its next diamond sale in May 2015. The sale will include 1,617 carats of predominantly near-gem quality and industrial goods that were withheld from this sale.
Tags: Deena Taylor
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