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Stellar Sees Average Price Fall at Sale of Baoulé Diamonds
Mar 16, 2016 4:38 AM
By Rapaport News
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RAPAPORT... Stellar Diamonds raised about $300,000 from a sale of
diamonds sourced from the company’s Baoulé project in Guinea, achieving an
average price of $91.05 per carat.
The average price is below
the $156 per carat realized at a previous sale in May 2015 as goods in the
latest auction contained a higher proportion of lower-quality stones and a
weaker rough market, according to a statement March 15.
Despite the average price
decline, the latest auction of 3,291 carats in Antwerp had certain white gems
and fancy-colored yellows sell for $1,000 to $4,600 per carat. A 55-carat
diamond with a boart exterior was sold as a rough stone as it was established
that it would not add significant value through polishing.
Meanwhile, Stellar also announced
it has raised $850,047 (GBP 600,000) through an equity issue, the proceeds of
which are expected to support the license application process for the Tongo
mine in Sierra Leone, complete trial mining and diamond sales at Baoulé and “complete
a maiden resource statement at Baoulé targeting 3 million carats.”
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Tags:
Baoulé, Guinea, Rapaport News, Stellar Diamonds
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