7936567 Canada Inc SWYDF

Metals & Mining Industrial Metals & Minerals

Stornoway Diamond Corp is a leading Canadian diamond exploration and producing company. Its principal business is the development of its flagship asset, the fully-owned Renard Mine, located in Quebec, Canada. The company intends to grow its business through the exploration and development of its mines. Stornoway also holds interests in a portfolio of exploration assets across Canada through owned properties and joint ventures. These properties and joint ventures include projects such as Adamantin, Qilalugaq and Pikoo.

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7936567 Canada Inc

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Comment by mjl777on Jan 07, 2014 5:26pm

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Post# 22067366

RE:RE:RE:Some news I found in a SWY Facebook post

He appears to be referring to the project finance facility that will be provided by the banking syndicate. But, it's surprising that he confirmed that 50% of the financing is secured when the debt financing would typically be contingent on confirmation of the equity finance component of the overall project financing. Semantics maybe?

Anyone else wonder why the capital cost of the project keeps increasing, whereas, part of the dilutive financing raised in early 2012 what suppose to absorb some of the capital costs?

I guess we'll see confirmation of the project finance facility soon. Equity? I would bet that we continue to get lip service and very little in the way of delivery that enhances shareholder value.

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