Stellar Diamonds exports diamonds for third trial auction

Stellar Diamonds revealed the export of a sizeable diamond parcel on Tuesday - 3,341 carats in total - from trial mining of its Baoulé kimberlite project in the Aredor area of Guinea, to Antwerp.

The AIM-traded diamond development company said the jewels would be cleaned and assorted prior to a planned auction in March.

Stellar said it would be the third diamond sale, and would form part of the ongoing trial mining evaluation of the Baoulé pipe, in order to determine the diamond grade and value of the deposit.

The company's stated objective was to mine and process 100,000 tonnes of kimberlite, which was now more than 70% complete and was yielding results in line with expectations.

Based on the current grade realised, and previous drilling results, Stellar was targeting a resource in the region of 3m carats at Baoulé.

"To date some 8.830 carats have been recovered from the trial mining," the company's board confirmed in a statement,

"Two diamond sales, totalling 5,173 carats and generating revenues of over $700,000 (£483,888), have been completed in 2015," it added.

Stellar Diamonds said further information on the planned diamond auction would be given once the final schedule was confirmed.