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Stellar bags $228K revenue from Baoulé Auction

2016-07-09


According to the Stellar Diamonds claim they have bag revenues of US$228,000 at an average of US$72.65 per carat from the auction of diamonds from its 75% owned, Baoulé kimberlite pipe in Guinea. This brings sales from the 100K tonne bulk sample exercise to US$1,228K. 

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 is West African focused diamond company with projects at the trial mining and mine development stages in Guinea and Sierra Leone.