Maybe I have answered my question regarding Octea purchase of new mining equipment,
From above website it appears that BSG Resources Limited (BSGR) through its subsidiary OCTÉA Limited, will develop and expand Koidu Licence.
Listening to these 2 youtube interview with Karl Smithson:
In the below 1st interview at the 2nd minute interview, Karl Smithson gives the idea that the 2 operations Tongo and Tunguma will become one with one mining/processing plant.
In this other interview below, Karl Smithson states at the 5th minute circa that Tonguma will sell their old mining infrastructures to then go buy a new mining machinery to mine their other project, been what ????????
If Octea Mining Limited License is combined with Stellar license under these agreement, I can't see what other asset Octea will be mining with the new equepment.
None of this board participant care to comment but I will insist....
From Stellar RNS of 25/09/17
Furthermore, the Company has agreed with Octea Mining to extend the longstop date (for the satisfaction of certain of the conditions precedent of the binding Tribute Mining and Revenue Agreements ( Agreements) in relation to the Tongo-Tonguma mine development project in Sierra Leone, as defined in the announcement dated 28 April 2017) to 31 October 2017.
It seems to me that the Agreement Tongo-Tonguma Tribute Mining and Revenue Agreements, is not legal yet.
How is it possible that Stellar uses recent Issue of Equity money to pay for some Tonguma debit like their environmental License?
Overall, I am encouraged since I was able to buy quite a lot of extra STEL shares at 3.1p and it looks like I'll get 80% of the Excess shares I requested as well as my basic rights. This will double my holding from a few weeks ago, and halve my average price paid per share.
I hope now that STEL will now be able to get the additional Project funding sought on good terms for production to commence within a year at worst.
I was reading that the Owner of Octea trough BSG Resources a privately owned company is Beny Steinmetz. Beny Steinmetz is currently been investigated for bribery.
Why would Stellar need to join forces with BSG Resources, when they could develop their asset profitably in the first place, given the high grade (ct/t) of their license?
Share Prophets are giving very good advice in my opinion.There are far better investments, why put money here when producing companies held in high regard are suffering significant share price falls.Petra,Firestone, and Lucara are all under pressure.Avoid this dilution. I will of course not be taking up my entitlement as I have learned by my past mistakes.
Read on Share Prophets news of placing @ 3.25p
Very lucky my limit of 4.75p,did not lift Friday but shows maybe it was not leaked.
( Maybe TW doesn't like that )
The raise was about 200k , there is an OO with it at same price which i like to see but prophets say AVOID.
But they have never liked it.
well i never been part of one but this has got to be a multi bagger
its market cap is over half cash
and 1 decent diamond could make the other half in one hit.
this ones under every ones radar im thinking.
i mean amc has market cap of £30mill ,10 times this and yet is close to another fund raise and nowhere near mining what it has.
revenue could be $40mill a year here
Published on Jun 7, 2017
Karl Smithson, CEO of Stellar Diamonds informs Tip TV viewers about the Guinea asset sale and how the company intends to channelise the resulting $2 million cash inflow into the Sierra Leone project.
Smithson says, The focus is on Sierra Leone diamond project as it has potential to earn about $40-45 million a year.
Watch the full segment as Smithson details-
Guinea asset sale
Sierra Leone project - estimated projection, fund requirements
well considring the market cap and the potential to find 1 diamond worth serval times the market cap i dont care tbh.
you would be a fool to miss that its not about stellar directly
and just look at that 500,000 buy £27.500 worth today
someone feels the same as me.
"Shame on all of those involved " comments share prophets. "misleading story 709 carat diamond find"
Appears nothing to do with stellar.." Fake News "
Report this was not found by them at all but by a vicar padding some 15 miles away artisinal mining a freelance diamond hunter.
A giant diamond found by some shaman on the plains of Sierra Leon when a sizeable operation like Stellar finds nothing that raises an eyebrow?? I ducked the share placement as this operation has drained my cash to virtually zero and it feels like throwing good money after bad. I may be wrong but I'd rather buy in at a higher price when perhaps risk has been somewhat reduced and production figures actually back up the hype. As ever, GLA that are holding and/or participating in the share placement...
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