Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Stellar Diamonds Begins License Application Process for Tongo Dyke-1

Apr 1, 2015 12:06 PM   By Jeff Miller
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Stellar Diamonds began the application process to acquire a mining license for the Tongo dyke-1 kimberlite project in eastern Sierra Leone. The junior miner hopes to fast track Tongo into production given its positive resource definition work, mining studies and financial modeling.

"Moving Tongo to the mining license application stage is a major milestone for the project. Having recently defined a faster route to production cash flow by the assessment of surface mining studies and based on the extensive resource and financial modeling completed to date, Tongo has clear economic potential," said Karl Smithson, Stellar's CEO.

The application will be accompanied by updated mining and financial reports, both of which are under preliminary assessment. The company stated this past week that it will launch a drive to  secure debt funding of approximately $20 million  to bring Tongo into production.


Tags: Diamond mining, diamonds, Jeff Miller, Sierra Leone, stellar
Similar Articles
Williamson processing plant mine PetraPetra Launches Probe into Violence Claims
Nov 12, 2020
Petra Diamonds is investigating allegations that security guards at its Williamson...
Alrosa Gives Cautious 2021 Production Outlook
De Beers to Stop Production at Botswana Mine
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us