Stellar Diamonds, which is considering a merger project Tongo (Tongo) with an adjoining mine Tonguma (Tonguma) company Octea Mining in Sierra Leone, said that an independent preliminary economic assessment has demonstrated its strong financial prospects and higher margin.
As expected, the project life cycle will be 21 years, and the reserves - 4.5 million carats of diamonds.
In a statement, the company also said the significant prospects of kimberlite dykes rich in diamonds, which have not yet been included in the reserves for the project.
Start of production of diamonds is expected within 12 months. Production will ramp up to more than 200 000 carats per year to the fourth year of the project.
As part of the life cycle is scheduled to receive $ 1.518 billion in revenue, while operating expenses were $ 847 million.
"A preliminary assessment of the project Tongo Tonguma testifies to its strong financial prospects at modest capital costs and supports the Board of Directors to continue to develop this strategic acquisition, - says CEO Stellar Karl Smithson (Karl Smithson) -. Three kimberlite dyke Kundu (Kundu), Landau (Lando) and Tonga (Tongo) were included in the mine plan They have extremely high diamond content. and the value of, and together they will be able to maintain a long mine life. We also can not fail to please the potential of a significant expansion of the resource base through the inclusion of a number of additional kimberlites which have been found in both license areas and which have a long-term resource base. "
The Stellar reported on the ongoing work on legal instruments and legal assessment to Octea.
Thanks to an agreement Stellar will receive a 75-percent stake in the project, as well as pre-emptive right to repayment of the initial investment and obtaining a number of royalty.
Trading the company's shares on AIM will be suspended until final clarification on the agreement with Octea.
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As reported in the study of the Association of producers of diamonds (Diamond Producers Association, DPA), representatives of "two thousandth generation" loves to give and receive diamond jewelery as presents at least as much as any other age group.
DPA surveyed 400 consumers aged 18-64 years, with an annual income of $ 75,000 or more. The survey was conducted on the Internet immediately after Thanksgiving. According to the results, last year more than a quarter of men gave their wives or girlfriends diamond jewelry, and this year, about one-third going to make it.
Each of the men darivshih such gifts, and each of the women who received them said that diamond jewelry have become a favorite gift to women, according to the survey results.
According to the DPA, a large number of representatives of "two thousandth generation" participated in the last survey. "The survey results can indicate their desire to make a personal gift - says DPA representative of the so-called" millenialah "(representatives of" Generation two thousandth ".) - of this generation do not believe that the best way to congratulate beloved - a gift card they want. convey how well they know each other, and that they show concern. "
The JCK Online, which results in the survey data, noted that the main types of jewelry that women would like to receive as gifts, are a pair of diamond earrings and a diamond ring. For "millenialov" in third place in this list is a necklace with a diamond solitaire, and for the older age group - a bracelet with diamonds.
In addition, 80% of women receiving diamond jewelry as a gift, it is preserved decoration and did not change it to other kinds of jewelry.
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