Stellar Diamonds plans diamond sale in Antwerp

Stellar Diamonds plans to host its first sale of diamonds in Antwerp. The tender will include about 5,900 carats, of which 2,200 carats would be from the Baoulékimberlite, Guinea (this will carry the first parcel of 941 carats sent to Antwerp in December, and the sale stood deferred) and 3,700 carats currently in Antwerp, and which is current stored.

Chief Executive Karl Smithson noted that, “In order to maximise the revenues from our first sale we will conduct a second export from Baoulé in early January to complement the goods of the first export made in December.”

The tender is slated to be held in late-January, a time when buying would resume after the holidays.

The company holds 75 percent stake in the five hectare Baoulékimberlite pipe in Guinea, and has stated that trial mining at the pipe has yielded 2,145 carats to date at an average grade of 15cpht. Recovery continues to also include high quality gems including ones of 8.5carat and 6.6 carat, reports say. Stellar Diamonds Chief Executive Karl Smithson commented: We are pleased with the on-going progress of the trial mining at Baoulé. The regular occurrence of larger gem quality stones is highly encouraging, as is maintaining our target plant processing capacity and run of mine grade, in order to achieve our objective of processing 2,000 carats per month during 2015.