Stellar raises $417 122 in maiden diamond auction
JOHANNESBURG (miningweekly.com) – London-listed Stellar Diamonds has raised $417 122 through the sale of the first batch of diamonds from its Baoulé mine in Guinea, offloading 4 414 ct during an auction in Antwerp, Belgium.
The West Africa-focused diamond development company said the sale included “excellent quality” white stones, with a value of $5 000/ct achieved for one particular 5 ct stone.
Stellar withheld 1 617 ct from the sale as the bid prices were not considered acceptable. These goods would 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,” it said in a statement.
Stellar was meanwhile progressing the 1.45-million-carat Tongo Dyke-1 resource, in Sierra Leone, through a definitive feasibility study and continued to “pursue diplomatic channels” to ensure the proper reinstatement of its Kono licences, also in Sierra Leone.
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