Stellar Diamonds plc, the London-listed diamond development company focused on West Africa, has announced that it realised revenues of US$228,000 from its most recent auction of diamonds from the Baoulé kimberlite pipe in Guinea. The Company is a 75% owner in the project.

With the completion of the latest sale, total revenue from the 100,000 tonne bulk sample exercise has now reached US$1,228,000, the statement issued by Stellar said. 

The average price of US$72.65 per carat realised in this auction was lower compared to that realised in previous auctions, Stellar said. This was on account of the fat that the current parcel was made up entirely from diamonds produced from the smaller Western lobe which contains lower quality diamonds compared to the volumetrically larger Eastern lobe. Prices were also depressed ue to the current weaker rough diamond market, Stellar added.

The statement clarified that the better quality gem diamonds again achieved strong prices, with two 5 carat diamonds achieving in excess of US$3,500/ct.