West Africa-focused diamond development company Stellar Diamonds has advised shareholders to vote in favour of the proposed takeover by Australian miner Newfield Resources even though a rights issue by the bidder was undersubscribed by AUD 13.4m.
West Africa-focussed diamond development company Stellar Diamonds announced its unaudited interim results for the six months to 31 December on Monday - a period in which it completed a placing of £0.33m and an oversubscribed open offer raising £0.2m.
Diamond development company Stellar Diamonds gained environmental approval for a key mining licence in Sierra Leone for the Togo portion of its proposed Togo-Tonguma mine.
West Africa-focussed diamond development company Stellar Diamonds announced on Monday that it has signed conditional share purchase agreements with Gold Knight - a wholly-owned subsidiary company of BDG Capital - in relation to the proposed sale of Stellar's assets in the Republic of Guinea, as it had previously announced on 5 June and 14 August.
Stellar Diamonds paid for its environmental licence at Tongo, clearing the way for the corresponding mining licence to be issued, and extended the longstop date for the agreements with Octea Mining pertaining to Tongo-Tonguma.
West Africa-focussed diamond exploration and development company Stellar Diamonds announced on Friday that it signed a legally binding conditional tribute mining agreement and revenue share agreement with Octea Mining, in respect of the Tongo-Tonguma kimberlite diamond project in eastern Sierra Leone.
West Africa-focussed diamond development company Stellar Diamonds announced its unaudited interim results for the six months to 31 December on Friday, after signing a heads of terms with Octea Mining for the proposed Tongo-Tonguma tribute mining agreement in February.
Stellar Diamonds said it has conditionally raised about £183,751 gross in its open offer at 5.5p a share.
Shares rose in Stellar Diamonds on Friday after the miner announced that a church minister had discovered a 709 carat diamond in Sierra Leone, which it claims is the 13th largest ever found.
West Africa-focused diamond development company Stellar Diamonds' shares are down nearly a quarter after its shares were restored to AIM trading following a placing of 5.9m shares at 5.5p each to raise £324,500.
West Africa-focused Stellar Diamonds has conditionally raised about £324,500 by way of a scaled-back placing of 5.9m shares at 5.5p each.
Stellar Diamonds has more than doubled its full-year pre-tax loss due to a significant rise in the impairment of intangibles, and says it is pursuing a transformational acquisition.
AIM-listed Stellar Diamonds has agreed to joint ventures with Dubai-based Citigate Commodities Trading, over the miner's kimberlite project in Guinea and two exploration licences in Liberia.
Stellar Diamonds announced that it would combine its operations in Sierra Leone to create the second-largest diamond mining operation in West Africa.
Leaving the EU may not not happen anytime soon given that civil servants charged with the task don't yet have an office and hold meetings in Starbucks. Some estimates suggest "full Brexit" may take 10 years and involve up to 10,000 people, not only in the new and other so-called "hot" departments such as foreign, home, environment and business, but across the civil service nationally, at an administrative cost of close to £5bn. - The Guardian
Stellar Diamonds announced the LSE would suspend trading in its shares pending the announcement of a potential reverse takeover.
Stellar Diamonds has been verbally told its application for a mining licence over its 100%-owned Tongo project in Sierra Leone has approved by the Minerals Advisory Board there.
Stellar Diamonds announced the completion of a major step in Sierra Leone on Wednesday, having received a letter of approval from the country's Environmental Protection Agency (EPA) for its mining licence application at the Tongo Dyke-1 project.
Stellar Diamonds revealed the export of a sizeable diamond parcel on Tuesday - 3,341 carats in total - from trial mining of its Baoulé kimberlite project in the Aredor area of Guinea, to Antwerp.
It was another case of directors selling shares to satisfy tax liabilities on Thursday.