Stellar Diamonds posted a deeper first-half loss after expenses rose amid the development of its African mine prospects.

The company, which didn't record any revenue for the period, posted a net loss of $984,928, compared to a loss of $663,145 a year earlier.

Stellar Diamonds is the subject of a share-based takeover bid by Australia's Newfield Resources.

Further announcements about the offer would be made in due course, the company said.

At 9:16am: (LON:STEL) Stellar Diamonds PLC share price was 0p at 5.25p