On January 25, Stellar Diamonds reported the discovery of a 55-carat diamond in its 75% owned Baoulé mine located in Guinea, which was reported as the mine’s biggest stone so far in a mine that has reported to be highly productive. To date, the trial mining activities in this location that started in late November 2015 have produced a total of 8,043 carats, presenting an average yield of 12.7 carats per hectare. So far, with 63% of the trial mining completed, the total revenues obtained from the sales of the Baoulé’s diamonds account for US$700,644. The latest discoveries, including the 55-carat rock, have just contributed to strengthening the company’s confidence in the potential of the Baoulé mine as a large-size diamonds source. Considering past results, Stellar Diamond estimates a target resource of 3 million carats for this facility. Apart from the Bauolé project, Stellar Diamonds is currently working on the Tongo mine located in Sierra Leone, which is at a more advanced stage, and the company also holds mining licenses for other two mines in Guinea and one more in Sierra Leone.
In pricing, size is not all that matters
Despite the stunning size of the Baoulé’s rock, there is no guarantee that it will break records once it is valued by specialists, since a diamond’s price depends on four different characteristics: color, clarity, cut, and carat weight. Even though carat weight is often considered the decisive characteristic for buying a diamond, it is in reality just a part of the rock’s whole value.
Stellar Diamonds’ rock ranks highly in the latter category and as the company mentioned on its press release, “This is an unusual stone since it has a low-quality coating but what seems to be a better quality diamond within the interior. The quality and potential value of the stone is highly uncertain, and the stone will be carefully analyzed to accurately determine its value + before deciding on the sales process.”
And if you are in doubt a Carat is a measurement used by the diamond industry to indicate how much a diamond weighs and it is equivalent to 200 milligrams in the metric system. Finding a 55-carat is extremely rare. To put it in perspective, the average size of a diamond coming out of the ground is 0.10 carats; 550 times smaller than the one found in Guinea.
If you enjoyed reading this article, we recommend you follow on this one: