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7936567 Canada Inc SWYDF

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

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Post by landlubberon Oct 21, 2011 2:31pm
310 Views
Post# 19171057

updated feasibility expected soon

updated feasibility expected soon

The Renard Project, Quebec's First Diamond Mine On Schedule, Updated Feasibility Study Expected Soon: Stornoway

Friday, October 21, 2011 7:30 AM

Stornoway Diamond Corp. (TSX:SWY) reports thatconstruction and production of the Renard Project, Quebec’s firstdiamond mine, is on schedule for construction to begin in mid-2013 anddiamond production in mid-2015. Stornoway is part of the Plan Nordproject, announced May 9, which will see mining firms and the Quebecgovernment invest $80 billion over 25 years to mine gold, diamonds,copper, molybdenum, rare-earths, nickel, lithium and uranium innorthern Quebec. The Renard Project currently has an indicatedresource of 24 million carats, an inferred resource of 17 millioncarats and a potential mineral deposit ranging between 24-49 millioncarats, the company says. An updated feasibility study is expectedshortly, the company says. Stornoway is expecting to have road access,through the extension of route 167, to the Renard site by mid-2013, thecompany says. Route 167 leading into the Otish Mountains will have awidth of 10.6 meters and maximum speed limit of 70 km/h. It is a $332million plan to extend route 167 into the Otish Mountains of northernQuebec funded by the government of Quebec and Stornoway. Stornoway is aCanadian-based diamond exploration and development company.

By Alex Létourneau of Kitco News aletourneau@kitco.com

https://agoracom.com/ir/Stornoway/forums/discussion/topics/504111-on-schedule/messages/1604476

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