Resource stocks round-up: Stellar, Bowleven, Ithaca

Other stocks included in this round-up are: Faroe Petroleum and Baobab Resources.

West Africa-focused Stellar Diamonds said it had discovered a significant maiden diamond resource at its Tongo Kimberlite Dyke Project in Sierra Leone. The firm said the high diamond grades and values exhibited at its Dyke-1 mine made it one of the highest value kimberlites in terms of dollars per tonne worldwide and provided a "robust platform for Stellar to unlock significant shareholder value'. Its shares jumped 14% on Monday following the announcement.

Bowleven, the AIM traded oil and gas exploration group, cuts back its losses significantly in the first half of its financial year. In the six months to the end of December 2011 the firm made a loss of $5.5m, compared to a loss of $15.7m for the same period the previous year. The company said it had made considerable progress at its Cameroon sites in the second half of 2011 and the momentum had continued into the current year. The company's shares leapt almost 15% in early trading. It has recently been the subject of takeover speculation with fellow oil and gas company Dragon Oil admitting it was running the rule over the company.

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