Stellar Diamonds’ flagship project not yet clear between Baoulé, Tongo – report

Sanlam Securities said that Stellar Diamonds’ flagship project is not yet clear since the Baoulé deposit in Guinea and Tongo, in Sierra Leone have both potential to be highly profitable for shareholders.
“Stellar has two very interesting diamond projects and although Guinea and Sierra Leone are not the easiest countries in which to operate, the potential value of these projects is more than sufficient to offset these issues,” Proactive Investors quoted an analyst from Sanlam, Charlie Long, as saying in a note following a meeting with Stellar chief executive Karl Smithson and his team.
Stellar recently said that the grade from the Tongo kimberlite had increased to 155 carats per hundred tonnes from the previous 120 cpht.   
It said 843 carats had already been recovered through processing material from the bulk sampling programme.
Stellar was anticipating the project’s resource size, currently estimated at 1.1mln carats, to increase.
Meanwhile, Proactive Investors, reports that Baoule was a large diamondiferous pipe in the Aredor region of Guinea.
The area was a renowned diamond district and there was a wealth of information on the alluvial diamonds from the area, which, at $400 a carat, were of the very highest quality.
“The suspicion is that the Baoulé kimberlite may be one of the sources for these stones,” claims Proactive Investors.
The estimated grade at Baoulé was 13-40 carats per hundred tonnes though even at that lower figure, this gave a resource of 3 million carats.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished