Stellar targeting 2 000 ct/m from Baoulé in 2015
JOHANNESBURG (miningweekly.com) – Aim-listed Stellar Diamonds aims to increase its production at its Baoulé kimberlite project, in Guinea, to 2 000 ct/m during 2015, Stellar CE Karl Smithson said on Thursday.
He noted that the company had managed to establish a trial mining operation at Baoulé over a short period, with the operation having delivered its first diamonds with higher than expected grades.
“The presence of larger gems of around 5 ct in size from early production runs has been particularly encouraging,” Smithson said, adding that the company intended to establish a regular cycle of diamond sales and exports from the project during the next year, which would lead to a regular cash flow being generated.
Meanwhile, Smithson also pointed out that the bulk sampling phase of the feasibility study for Stellar’s Tongo Dyke project, in Sierra Leone, had been completed, having generated a parcel of 1 180 ct.
“The bulk sampling phase of this feasibility study has returned higher grades than previously established, with the presence of larger gem-quality diamonds in the sample. This indicates that an upgrade in the diamond resource is considered likely, which could impact positively on the value of the project,” he explained.
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