Friday 28 July 2017 The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares


Stellar Diamonds fools Digital Look with diamond discovery - it should be ashamed

By Tom Winnifrith, The Sheriff of AIM | Friday 17 March 2017


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


The roll call of shame on today's RNS from Stellar Diamonds: Nomad Cairn Financial (Emma Earl, that name rings a bell), Broker Beaufort Securities (Jon Bellis), joint broker Peterhouse Corporate Finance (Martin Lampshire), Financial Advisers Mirabaud (Rory Scott), Pr St Brides ( Lottie Brocklehurst). The headline is "709 Carat Diamond Discovered in Sierra Leone." Fuck me: where do I buy Stellar shares? These guys have just discovered the 13th biggest diamond in the country's history. Fuck me again - where is my fucking stockbroker? Oh er hang on...

Well some folks in the press duly reported how fucking amazing Stellar is. Here is the way Digital Look covers the story.

 

Oh hang on...what was that you say about fake news? What is this story below? A vicar paddling around doing a bit of artisinal mining, when he was not telling his flock about the Good Lord Jesus, has also found a 709 carat diamond. Jeepers what a total fucking coincidence two 709 carat diamonds in one day! Where do I buy shares in the vicar?
 

Oh hang on. It is the same diamond. If you actually read the RNS issued by Stellar it says:

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, notes the recent reports regarding the discovery near to Koidu town by an artisanal diamond miner in eastern Sierra Leone of a 709 carat diamond, which has been reported as the 13th largest diamond ever found.  Other famous large diamonds discovered in Sierra Leone include the 969 carat "Star of Sierra Leone", the 770 carat "Woyie River" and the 620 carat "Sefadu".  This latest discovery reaffirms the Company's belief that Sierra Leone ranks in the very top tier globally for the production of large and high quality diamonds. 

Stellar is focussed on the development of its 100% owned Tongo kimberlite diamond project in eastern Sierra Leone, on which it has invested £5.5 million (representing 15p per share) to date defining and growing the current resource and the proposed Tribute Mining agreement between Octea Mining Ltd and Stellar, of the adjacent Tonguma diamond project.  Both licences currently have a combined diamond resource of 4.5 million carats.

Ends.

So a vicar finds a diamond in Eastern Sierra Leone and Stellar which has not found a 709 carat diamond on its acreage 15 miles away feels the need to announce this. How lucky that there are at least some journalists thick enough to fall for such a spoof. Praise be the Lord.


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