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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Post by crazytownon Mar 22, 2011 10:24pm

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HIGHLIGHTS from HARRY!

For the mining segment, rough diamond sales for the fourth quarter were 30 per cent higher at $82.7-million, compared with $63.5-million for the fourth quarter last year. This increase resulted primarily from a 23-per-cent increase in the company's achieved rough diamond prices.

Robert Gannicott, chairman and chief executive officer, stated: "This past year we have seen rapid growth in diamond demand, which has had a positive effect on both segments of our business. New customers in emerging markets, especially Asia, have replaced demand from the traditional markets such as America during the financial crisis. As recovery in America and development in the BRIC economies continues, the outlook for rough diamond prices, led by jewellery sales, is expected to be robust."

Yet another piece of the puzzle slips into place for Stornoway.

THINGS JUST KEEP GETTING BETTER AND BETTER FOR THIS LITTLE SOON TO BE BIG COMPANY!!

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First Nations contributions attract investor interest