Stellar Diamonds said that the evaluation of diamonds parties resulting from the test drilling for kimberlite Baul (Baoulé) in Guinea was completed after the extraction and processing of more than 100 000 tonnes of kimberlite.
Geology of some parts of the kimberlite pipe is quite complicated. In some parts of both kimberlite lobes observed a number of intrusions and contact breccia zones, the western area contains particularly many intersecting kimberlite dykes later stage, added the company.
As they say in Stellar, it was produced 11,808 carats at an average grade of 11 carats per hundred tons of rock larger than 1.25 mm.
CEO Karl Smithson (Karl Smithson) said that the company was able to detect 929 stones larger than 1 carat, among them a number of valuable and fancy yellow diamonds.
In addition, Stellar mined diamond weighing 55 carats. With this strengthened the company's confidence that the Baul is a source of large diamonds, which are known zone Aredor (Aredor) in Guinea.
"These results show a clear difference in the content and quality of the diamonds on the western and eastern lobe of the kimberlite A larger proportion of the eastern contain more diamonds, quality is also higher." - continues to Smithson.
"Because we were able to identify the zone with a higher content of diamonds, we plan in June to sell another batch of diamonds weighing 3,188 carats produced from the western mines share", - he added.
As expected, the new diamond tender will bring the company additional revenues in excess of $ 1 million, which she managed to get so far from the sale of diamonds.
"Then we will complete the necessary modeling of content and value of the diamond in the evaluation of content resources in the project, that it is for the tube Baul expected to be about 3 million carats of diamonds." - concluded Smithson.
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Shares of Chow Tai Fook Jewelery Group Ltd., the largest jewelery retailer in Hong Kong, fell to a record low after the company reported that in the first quarter the profit is likely to fall by 50% due to the weakening demand in Hong Kong and Macao against the background Slowdown of China's economy.
After the data released by the company, Chow Tai Fook's shares fell in price by 7.1%, to about $ 0.80 per share. This is the lowest level at the close of trading since December 2011. Meanwhile, the stock index of Hang Seng fell by 0.2%. At the same time, on November 24, 2015, the jewelry company will publish its results for the first half of the year.
Hannah Li, senior analyst at UOB Kay Hian Ltd, said: "Although we expected a drop in profits (Chow Tai Fook), such a strong decline surprises.
Although Chow Tai Fook tried to cope with the slowdown in retail demand for jewelry due to products with higher margins and products of the mid-price segment, this strategy was not justified. " According to Lee, the retailer hopes to increase the margin by lowering the cost of office rental in Hong Kong in this The policy of Kent Wong, chief executive officer of Chow Tai Fook, assumes a 20% reduction in rental costs for some of the company's stores at the end of the contract period of this year.Aruna Gaitonde, chief editor Asian Bureau of Rough & Polished The retailer hopes to increase the margin by reducing the cost of renting offices in Hong Kong this year. The policy of Kent Wong, chief executive officer of Chow Tai Fook, assumes a 20% reduction in rental costs for some of the company's stores at the end of the contract period this year. Aruna Gaitonde, chief editor of the Asian Bureau of Rough & Polished The retailer hopes to increase the margin by reducing the cost of renting offices in Hong Kong this year. The policy of Kent Wong, chief executive officer of Chow Tai Fook, assumes a 20% reduction in rental costs for some of the company's stores at the end of the contract period this year.
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