28th May 2015 08:58
LONDON (Alliance News) - Stellar Diamonds PLC Thursday said it has almost reached USD1.0 million in sales during 2015 after completing another auction of diamonds from the Baoule project in Guinea.
The company said it raised USD505,000 before costs in the latest auction which was held online and brought the total sales for the year to USD922,000, which has mainly come from diamonds extracted from Baoule.
"We are delighted with the results from the latest diamond sale from Baoulé via the online auction eDiamond platform," said Chief Executive Karl Smithson. "Stellar's total revenue from diamond sales in 2015 currently stands at USD922,000, of which USD700,000 is derived from Baoulé. Trial mining is on-going and further diamond sales are targeted for the coming year."
The latest run of mine parcel had 2,822 carats which were sold for an average USD156 per carat. The latest auction also saw six lots totalling 48.12 carats of stones of over five carats each which generated USD168,909 in revenue.
The ongoing trial mining is aiming to yield a further 15,000 carats for sale and valuation.
Stellar shares were up 9.2% to 1.01 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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