Stellar Diamonds clocks US$228,000 in diamond sale

Stellar Diamonds plc announced revenues worth US$228,000 at an average of US$72.65 per carat from sale of diamonds from its 75 percent owned, Baoulé kimberlite pipe in Guinea.

This brings sales from the 100,000 tonne bulk sample exercise to US$1,228,000. The lower average price achieved compared to previous sales reflects the fact that the parcel was made up entirely from diamonds produced from the smaller Western lobe which contains lower quality diamonds compared to the volumetrically larger Eastern lobe, and the current weaker rough diamond market. However it should be noted that the better quality gem diamonds again achieved strong prices, with two 5 carat diamonds achieving in excess of US$3,500/ct.

Stellar Diamonds plc is a London listed diamond development company focused on West Africa.