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West African Share Discussion Threads
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|for anyone new looking on this site
WAD has now moved to . LSE:STEL|
|Nope - STEL
|is this still quoted under wad?|
JOHANNESBURG (miningweekly.com) Aim-listed Stellar Diamonds was acquiring additional mining equipment to further boost the production and processing capacity at its Mandala and Bomboko diamond mines, in Guinea, the company reported on Monday.
Among other equipment, it would install a 16-foot pan plant and a Flow Sort X-Ray machine at the Bomboko mine by the second quarter of this year.
The implementation of additional equipment would enable the diamond miner to reach its near-term forecasts of producing 2 000 ct/m at the Bomboko mine and 12 500 ct/m at the Mandala mine.
Stellar CEO Karl Smithson noted in a statement to shareholders that, since the reverse takeover of West African Diamonds (WAD), in February, the miner has moved quickly to restructure its operations and fast-track production.
"We are in the process of boosting the capital at Mandala and Bomboko, which will positively impact on our revenue generating capabilities in the near term," he commented.
Smithson added that the company was confident that the strong recovery in the rough diamond market would continue.
Meanwhile, output at the Mandala mine had amounted to 16 400 ct in January and February, while the mine has produced a total of 64 800 ct since mining started in mid-2009.
In February, Stellar had recovered its largest-ever diamond at the Mandala mine. The 37ct fancy yellow stone has, since, been exported to Antwerp for valuation and sale.
The total sales at the mine, to date, amounted to about $1,7-million.
Further, the diamond miner noted that it had recovered 2 562 ct at the Bomboko mine since trial mining started at the end of last year.
Production at the mine had significantly improved in grade since improved mining and grade control measures were implemented, stated Stellar.
The enlarged Stellar Diamonds, which included the merged WAD, relisted on the Aim in February.
The two diamond companies had announced in October that Stellar, which is 58,5% owned by Aim- and TSX Venture Exchange-listed African Aura Mining, had signed a heads of agreement to undertake a combination of business interests that would constitute a reverse takeover of WAD on the London bourse.|
|Hi there, excuse my ignorance but what way does this 5 for 1 share consolidation work, is that for every 5 west african diamonds share a person might have they get 1 steller diamond share?|
|Is there a new thread for the new stella diamonds-started trading today,currently 19/20p|
|was there any fishfillet on that boat that went down!!!!is it a stinking ship with all that fish|
|Fair does, at least we can confirm that one mecanism is working in perfect order? that being the withdrawal of company funds into directors bank accounts.|
|As I've put on the STEL thread the epic STEL is already taken by a NASDAQ Co.|
|James Cambell is staying on the board I think.|
|He'll be dumping his stock very soon.|
|why is John not remaining on the board to protect the WAD shareholders interests- after all he will still be the second largest individual shareholder in Stellar|
|What happened to the 20p placing. Surely the new listing will open in or around at that value I would've thought.
Nicely done on the new forum CP.. :)|
|Has an epic been assigned yet to Stellar do we know?|
|...5 times today's closing one, fl4nders.|
Did you ascertain how many shares each of our new directors hold-directly or indirectly?
Do you know what has happened to the holdings of Mantle Diamonds- i can t see them anywhere|
|yes we do - 1 new share for 5 of the old ones - but at what price|
|do we automatically get the new shares if we dont sell?|