Stellar Diamonds plc reports that maiden JORC compliant resources for its Tongo and Droujba projects in Sierra Leone and Guinea, respectively, total 3.1 million carats with an estimated contained value of over US$311 million, according to its audited results for the year ended June 30, 2012. Updated resource statements for both of these projects are expected in the fourth quarter of 2012.

"These projects will then move into the pre-feasibility stage to further define their economic viability and assess the capital requirement to move them into production. Both projects have high diamond grades and in the case of Tongo Dyke-1 a very high diamond value, making it globally one of the highest value kimberlites on a dollar per tonne basis," says Stellar Chief Executive Officer Karl Smithson.