Stellar agrees to sell Guinea assets for $1.25m
JOHANNESBURG (miningweekly.com) – West Africa-focused Stellar Diamonds and BDG Capital have agreed on a final purchase price of $1.25-million for Stellar’s Guinea assets.
This follows the completion of a due diligence by BDG.
Stellar has already received $500 000 of the overall purchase price, with the proceeds used for working capital.
Completion of the transaction and receipt of the balance of funds is conditional upon payment by Stellar of certain government taxes in Guinea, amounting to about $123 000.
“We are delighted to be able to bring the disposal of our Guinea assets to a close. Stellar’s carrying cost in Guinea is approximately $70 000 per month and we look forward to focusing our resources exclusively on progressing the high-grade and high-value 4.5-million-carat Tongo-Tonguma kimberlite mine development project in Sierra Leone,” CEO Karl Smithson said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation