Platinum’s rare nature gives it additional value and appeal

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

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There is a significant need for smart and technological financial solutions in the diamond industry

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The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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Stellar sees ‘strong progress’ at Tongo diamond project

21 january 2014

Stellar Diamonds has made a “significant progress” in advancing its 1.1 million carat Tongo dyke kimberlite diamond project in Sierra Leone up the development curve towards production with the definitive feasibility study (DFS) currently underway.
It said in a statement emailed to Rough & Polished that 650 tonnes bulk sample had already been collected as part of the Dyke-1 feasibility study.
The company’s objective was to recover a minimum 1,000 carat parcel for diamond grade and value confirmation.
First results were expected early February.
“Our focus for 2014 is the completion of a DFS on which a production decision will be made,” said Stellar chief executive Karl Smithson.
“The project has already yielded attractive diamond grades and values and we remain confident that we have an exciting opportunity to crystallise value for shareholders by advancing Tongo, which is located in a highly prospective diamondiferous region, into production.”
The grade and average modelled diamond value of Dyke-1 had been established at 120cpht and $248 per carat from a 1,050 carat parcel, with the current bulk sampling work geared to providing a larger diamond parcel for more robust diamond valuation work.
Bulk sampling of the Dyke-1 bulk sample started in October 2013 and had to date delivered 650 tonnes of material to the sample stockpile.
Processing of this material commenced last week using the Company’s on-site 5 tonne per hour DMS plant. The plan is to process around 100 tonnes per week with initial results being available in early February.

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