Gold and iron ore exploration company African Aura Mining’s 58.54%-owned subsidiary Stellar Diamonds and West African Diamonds (WAD) have agreed to merge.

The merger, if successful, will represent a reverse acquisition of WAD by Stellar.

Stellar and WAD intend to re-admit the shares of the merged entity, Stellar Diamonds, on to the AIM market.

Additional details on the proposed merger will be issued in due course.

Stellar currently has production and development-stage projects in Sierra Leona and Guinea, West Africa.