Stellar Diamonds PLC Result of AGM (4074J)

TIDMSTEL

RNS Number : 4074J

Stellar Diamonds PLC

29 March 2018

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

29 March 2018

AIM: STEL

Stellar Diamonds plc

("Stellar" or the "Company")

Result of AGM

Stellar Diamonds plc, the London quoted diamond exploration and development company focused on West Africa, announces that at the Company's Annual General Meeting held earlier today all resolutions were duly passed.

For further information contact the following or visit the Company's website at www.stellar-diamonds.com.

 
 Karl Smithson,     Stellar Diamonds       Tel: +44 (0) 20 
  CEO                plc                         7010 7686 
-----------------  ---------------------  ---------------- 
 Sandy Jamieson,    Cairn Financial        Tel: +44 (0) 20 
  Liam Murray        Advisers (Nominated         7213 0880 
                     Adviser) 
-----------------  ---------------------  ---------------- 
 Martin Lampshire   Peterhouse Corporate   Tel: +44 (0) 20 
                     Finance (Broker)            7469 0930 
-----------------  ---------------------  ---------------- 
 Tim Blythe         Blytheweigh            Tel: +44 (0) 20 
  Nick Elwes         (Financial PR)              7138 3204 
-----------------  ---------------------  ----------------

About Stellar Diamonds plc

Stellar is an AIM listed (AIM: STEL) diamond development company focused on the 4.5 million carat high-grade and high value Tongo-Tonguma kimberlite diamond project in the world famous diamond fields of eastern Sierra Leone. An independently generated mine plan, based on over 66,000m of drilling that has been completed to date, envisages the production of over 4 million carats, generating gross revenues of more than US$1.2 billion, over a 21-year life of mine. Initial production at Tongo-Tonguma is scheduled to occur in the first year of development, building up to over 200,000 carats per annum, with a weighted average modelled diamond value of $229 per carat. The Tongo-Tonguma mine is currently estimated to give Stellar an attributable a Post-tax NPV(8) of US$112 million and IRR of 31%.

** ENDS **

This information is provided by RNS

The company news service from the London Stock Exchange

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March 29, 2018 05:58 ET (09:58 GMT)

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