Stellar Diamonds recently published its conceptual economic scoping studies on the Tongo and Droujba kimberlite diamond projects in Sierra Leone and Guinea.
San Francisco, CA -- (SBWIRE) -- 08/19/2013 -- The Paradigm Project Management conducted studies to help Stellar Diamonds prioritize its development stages. Stellar decided to focus on the Tongo dyke-1 in Sierra Leone and place the Guinea project on hold, at least for a month.
Luckily for Stellar Diamonds, drilling in bulk at Tongo’s dyke-1 over the last year and a half has delivered almost 1,074,000 carats at a grade of 120 per hundred tonnes. The average modeled diamond valued at $248 per carat, and at this grade and value, the kimberlite diamond was valued at over $290 per tonne.
Stellar’s directors used the Paradigm’s Project Management model to increase the life of mines in Sierra Leone, adding an extra 1,051,000 carats of existing carats in resources. This resulted in an overall revenue increase of almost $413 million, and a net value attributable to Tongo of $53 million, helping the area’s economical standpoint.
Tongo will continue to be used as a study site for Stellar diamond, according to Karl Smithson, who says the Droujba project will continued to be placed on hold for care and maintenance while the company finishes up its feasibility study in Tongo.
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