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Star Diamond Corp T.DIAM

Alternate Symbol(s):  SHGDF

Star Diamond Corporation is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. Its primary asset is its 100% interest in the Fort a la Corne property, which is located in central Saskatchewan. Its Fort a La Corne Diamond Project includes Star and Orion South Kimberlites. These kimberlites are in close proximity to established infrastructure, including paved highways and the electrical power grid. The Star-Orion South Diamond Project is located within the Fort a la Corne diamond district of central Saskatchewan, Canada. These Fort a la Corne mineral dispositions are located in the Fort a la Corne Provincial Forest, approximately 60 kilometers (km) east of Prince Albert, Saskatchewan. It also holds a 100% interest in the Buffalo Hills Diamond Project, located approximately 400 kilometers northwest of Edmonton, Alberta, Canada. The property covers a total of 21 mineral leases covering an area of approximately 4,800 hectares (ha).


TSX:DIAM - Post by User

Bullboard Posts
Post by trapezeon Jan 06, 2009 11:31pm
586 Views
Post# 15687432

Clarification is an understatement

Clarification is an understatementShore set out to recover 61,000 tonnes of ore from the underground work at Orion South. To date, they've reported on 14,000 tonnes. Their 08 budget called for $87 million to be spent on Orion South, including the underground work and LDD drilling. Assuming they spent that (I haven't reviewed quarterly reports), they're sitting on tens of thousands of tonnes of ore.

They also now say the underground work is "terminated", not completed. Nor is there any word on percentage of completion, ie recovery of x percent of rock initially targetted. But at the same time, they say they've got enough for a 43101 estimate for Orion South.

One has to stretch the imagination to make sense of it, but good luck to anyone calling IR.


Bullboard Posts