Stellar Recovers First Diamonds at Baoule Kimberlite

Stellar Diamonds plc (LSE:STEL) announced that the first diamonds have been recovered during trial mining at its Guinea-based Baoule kimberlite pipe.

Highlights include:

• 100tph treatment plant commissioned on schedule in September 2014
• First limited ore processed has yielded over 50 carats, including stones of 3.76cts and 1.37cts
• Plan to move in to full scale trial mining once plant optimisation complete
• Objective to process at least 100,000 tonnes for diamond grade and value estimation

Karl Smithson, chief executive of Stellar, commented:

I am delighted to be on site to witness the first recovery of diamonds from our Baoulé pipe which is a key milestone for Stellar. Our team has done an excellent job to get the project up and running in a short space of time and under challenging conditions during the rainy season. Our next objective is to optimise the commissioning of the plant before increasing the volume throughput of kimberlite ore, which could take a few weeks further. Whilst this large scale bulk sampling, or trial mining, is expected to establish the diamond grade and value of the kimberlite pipe to a high degree of confidence, it is also expected to provide cash flow to the Company over the next twelve month.

Click here to read the full Stellar Diamonds plc (LSE:STEL) press release.