Stellar is an AIM quoted (AIM:STEL) West African focused diamond development company which is advancing the 1.1 million carat Tongo Dyke-1 resource into the feasibility stage and towards a production decision in 2014. The Company recently signed a joint venture to earn a 75% interest over the multi-million carat potential 5 hectare Baoulé pipe in Guinea. In addition, Stellar holds the 3 million carat Droujba project and continues to pursue both diplomatic and legal channels to ensure the proper reinstatement of its Kono licences.
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Stellar Diamonds has a current, JORC compliant, inferred diamond resource base of 4 Million carats with the Tongo Project advancing towards a Bankable Feasibility Study over the next 12 months..
The projects are located in the central part of the Man Craton, which although relatively underexplored by modern methods has yielded millions of high quality diamonds, mostly from artisanal mining methods. The kimberlite potential remains untapped.
Stellar has been actively exploring and developing properties in this region of West Africa since 2000 and has narrowed its focus to on highly prospective kimberlites dykes in Sierra Leone (Tongo and Kono) and a kimberlite pipe and dyke complex in Guinea (Droujba and Katcha).
The Company has established a combined 4 million carat resource at Tongo and Droujba and has a programme to prioritise the Tongo Dyke (1 million carats) through a bankable feasibility study over the next 12 months prior to a production decision being made.
At Droujba Stellar has defined a 2.5 million carat resource over the Droujba pipe and a further 448,000 carat resource along a 0.5km section of the 5 km long Katcha dyke.
A short three year open pit mining operation at a 1:1 stripping ratio, to generate 313,000 carats with a gross revenue of $15 million at a current diamond value of $45 / carat has been identified from the recent Economic Scoping Study
In addition, the Company holds a mining licence over the Mandala alluvial diamond mine, where mining between 2009 and 2011 produced over 128,000 carats at an average grade of 0.49 carats / m³. The remaining is estimated at 134,000 carats and considering the recent improvements to the rough diamond market Stellar is considering options to potentially resume mining at Mandala.
Stellar has prioritised the acceleration of the development of the Tongo Project following a positive Economic Scoping Study of Dyke 1 and is moving the project towards a full Feasibility study. While the company is in dispute with the Ministry of Mines, exploration work has been suspended on the Kono Project
Stellar’s single Exclusive Prospecting Licence in the Tongo area, which hosts four high-grade kimberlite dykes, covers an area of 9.98 km². Of the 2.5km long Dyke-1, some 1.9km of strike has been drilled and bulk sampled yielding a JORC compliant inferred resource of 1,074,000 carats to a depth of 300m depth at a grade of 120 cpht and modelled value of $248 / carat. The results of a recent Economic Scoping Study, focussed on an initial 638,000 carats of the Dyke 1 resource envisages an initial decline followed by a shaft to 300m and a 13 year mine life with a modest project capital investment requirement of US$ 21 million and a life of mine cost of US$ 84 / tonne.
The Lord Daresbury - Non-Executive Chairman
Peter Daresbury has held numerous executive positions, including CEO from 1997 to 2000 of the Greenalls Group, which had an annual turnover of £983 million and a FTSE 100 market capitalisation of £1.7 billion. In 2000, the company was re-named The De Vere Group plc, and Peter Daresbury became Non-Executive Chairman until he stood down in 2006. Peter Daresbury has also served as Non-Executive Chairman of Kazakhgold Group Ltd from 2005 to 2007 and Executive Chairman of Highland Gold from 2002 to 2004. Peter is currently Chairman of AIM quoted Nasstar plc, Aintree Racecourse Company Ltd, Mallett plc and North West Business Finance Ltd, a new Private Venture Capital and Loan Fund (VCLF) for the Northwest.
Current directorships include Bespoke Hotels Ltd, Rusant Ltd and in addition, since 2005, Peter has been a member of the Fleming Family and Partners Private Equity Investment Committee.
Karl Smithson - Chief Executive Officer
Karl Smithson was appointed as Stellar’s Chief Executive Officer with effect from 1 January 2007, having built the portfolio of Stellar’s assets within Mano River Resources since 2000. He led the listing of Stellar on AIM through a reverse takeover of West African Diamonds and has over the years successfully
raised over £15million in equity funding for Stellar.
Karl has 23 years of resource sector experience gained with a number of companies in senior management positions, including De Beers (10 years), SouthernEra Diamonds (2 years) and Mano River/Stellar (11 years). Karl’s working career has been focussed on diamond exploration and development in Africa and he has been responsible for a number of new diamond discoveries in Botswana, Zimbabwe, Sierra Leone and Liberia. Karl is a geology graduate of Kingston University in the UK. He completed his MBA with distinction in 2006 at the Graduate School of Business in Cape Town, South Africa and was awarded with the Old Mutual Gold Medal.
James Campbell - Non-Executive Director
James Campbell is currently Chief Executive Officer and President of Rockwell Diamonds Inc. Prior to this he was Vice President – New Business for Lucara Diamond Corp, following Lucara’s acquisition of African Diamonds plc, where he was Managing Director for four years.
Preceding this, James was with De Beers for over twenty years, culminating in being General Manager responsible for advanced exploration and resource delivery in the Global Mining and Exploration group. During his career with De Beers he also led a number of diamond exploration and evaluation programmes and small-scale mine development as well as being involved in corporate and strategic management and being Nicky Oppenheimer’s Personal Assistant.
James holds a degree in Mining & Exploration Geology from the Royal School of Mines (Imperial College, London University) and an MBA with distinction from Durham University. James is a Fellow of the Institute of Mining, Metallurgy & Materials, Chartered Engineer (UK), Chartered Scientist (UK), a Professional Natural Scientist (RSA) and a member of the Institute of Directors of South Africa. He is also a director of Bugeco sa, and Swala Resources plc.
Luis da Silva - Non-Executive Director
Luis is CEO of TSXV/AIM listed Afferro Mining Inc (TSXV/LSE: AFF), an iron ore explorer/developer in Liberia and Cameroon. He gained his extensive international experience with multinationals Lafarge S.A. and Blue Circle Industries Plc before joining the current Company in 2007. Luis is a graduate Mining Engineer from Camborne School of Mines and read for his MBA at the Cranfield School of Management. Additionally, Luis serves as a Non-Executive Director of Aureus Mining Inc. (TSX/LSE: AUE), a gold development company in west Africa born out of the African Aura split in April 2011.
Steven Poulton - Non-Executive Director
Steven is the Chief Executive and co-founder of Altus Strategies Ltd and a director of Altus Capital Ltd, the investment manager of Altus Resource Capital Ltd [LSE:ARCL] and Altus Global Gold Ltd [CISX:AGGL]. He holds an honours degree in geology from Southampton University and a master’s degree in mining geology from the Camborne School of Mines. Steven worked for Mano River between 1998 and 2005. In 2002 he co-founded Ariana Resources which listed on AIM in 2005 [AIM:AAU], in 2004 he founded African Aura Resources which listed on the TSX-V in 2008 and, through its merger with Mano River in 2009, created African Aura Mining which subsequently split into Afferro Mining [TSX-V/AIM:AFF] and Aureus Mining [TSE/AIM:AUE]. He is a Fellow of the Geological Society of London, a Fellow of the Institute of Materials, Minerals and Mining and a member of the Association of Mining Analysts.
Dr Markus Elsässer
Dr Elsässer is a German financier and investor in the mineral resources industry. He is Head of the Elsässer family office ‘M. Elsässer & Cie AG 1971′ in Dusseldorf, Germany. He is a Non-Executive Board member of Arctic Gold AB, an exploration and mine development company listed in Sweden, Kopy Goldfields AB, Stockholm/Sweden, an exploration company (gold) listed on the NASDAQ OMX First North in Stockholm/Sweden, Impact Minerals Limited, an exploration company listed on the ASX, and of Stellar Resources Limited , a Tin Exploration company listed on the ASX in Australia. Dr Elsässer was previously a Director of Finance at the Dow Chemical Company in Germany and he has extensive general management experience with former appointments in Australia and Singapore in the chemical and food industries. Dr Elsässer has a degree and PhD in Business Administration from Cologne University, Germany.
Information taken from company website 20.02.2014
Stellar Diamonds Plc
1st Floor Burleigh House
T: +44 (0) 20 7010 7686
F: +44 (0) 20 7010 7699
355 The Strand
London WC2R 0HS
T: +44 (0) 207 010 7686
F: +44 (0) 207 010 7699
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