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.

GREY:SWYDF - Post by User

7936567 Canada Inc

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Comment by mjl777on May 05, 2014 10:14am

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Post# 22524238

RE:RE:SWY Financing Presentation

Stornoway's financing presentation hardly instills confidence. How does the proposed transaction minimize potential shareholder dilution? What happened to the senior debt financing of $475MM? (reduced to $400MM after Stornoway decided to build a road to Renard, something no other public company would even consider, let alone attempt). Fair for shareholders because we get to vote? C'mon, the control block owns almost 50% of the company. What a pile of fluff. Largest single project financing transaction for a publicly listed diamond company? I would far prefer the smartest project financing transaction ever. One that minimizes dilution. Why can't Stornoway align its strategies with the fundamental corporate objectives that most public companies strive towards (like creating wealth for shareholders) instead of stuff intended to look good on someone's resume? And why can't Stornoway follow through on the commitments it made to shareholders?

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