Stellar to generate regular cash flow from Baoulé in 2015

Stellar Diamonds said it commenced trial mining with large gem quality diamonds recovered at its Baoulé project in Guinea where it seeks to generate regular cash flow from next year.
The first ore processed yielded 196 carats in total, or 17 carats per hundred tonnes, which was well ahead of the minimum expected grade of 13 carats per hundred tonnes.
“Stellar has continued to deliver on its milestones this financial year. Since entering a joint venture on the Baoulé kimberlite pipe project in Guinea we have quickly established a trial mining operation that has delivered its first diamonds with higher grades than expected,” said Stellar chief executive Karl Smithson. 
“The presence of larger gems of around five carats in size from early production runs has been particularly encouraging. Our target is to increase production towards 2,000 carats per month and to establish a regular cycle of diamond exports and sales during 2015."
Stellar said it had decided to advance the Tongo kimberlite dyke project in Sierra Leone to the feasibility stage following on from a positive economic scoping study on the 1.1 million carat resource of Dyke-1.
The bulk sampling phase of this feasibility study had been completed and had returned higher grades than previously established, with the presence of larger gem quality diamonds in the sample.

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