West African Diamonds (WAD), the Irish AIM listed diamond and precious metal explorer, stated today that their planned merger with Stellar Diamonds is 'proceeding well.' A relisting of the new enlarged entity is planned for early February 2010.



A representative of the company stated that; “[The merger] will create a bigger diamond producer, capable of delivering a robust cash flow, holding an exciting portfolio of advanced kimberlite projects."



The new company will have a resource base of over 1.5 million carats via its two producing alluvial diamond mines in Guinea, Bomboko and Mandala.



West African Diamonds additional projects and ventures include an advanced stage diamondiferous kimberlite exploration project at Droujba in Guinea, a joint venture on the Koidu dykes in Sierra Leone with Petra Diamonds, and finally, an additional joint venture with Thunderball on the Pipe 3 kimberlite pipe and adjacent dykes in Koidu.



The Plant 11 undersize tailings project in Sierra Leone and 'highly prospective' diamond ground on the Tongo dykes in Sierra Leone will provide the firm with a 5% royalty interest.