GJ Town India

Sales over 460K carats & Production reaches over 463K carats Stornoway sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat. Stornoway Diamond Corporation announces production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2019. According to the announcements, 460,832 total carats sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat ($102 per carat2). In terms of total carats sold, pricing and gross proceeds, this represents variations of +7%, -9% and -1% over the first quarter, respectively. Second quarter diamond sales represent diamonds recovered during the first quarter. Second quarter diamond production was 463,136 carats recovered from the processing of 695,934 tonnes of ore at an average grade of 67 carats per hundred tonnes (cpht). Carats recoveries increased by 4% compared to the first quarter, mainly due to greater plant utiliza...

Renard 3 to work from the 2019, Production is scheduled! Since earlier this year, Stornoway has been conducting a program of drilling and sampling at the Renard with the goal of converting certain Mineral Resources to Mineral Reserves, and of accelerating the mining of both the Renard 3 and Renard 4 ore bodies in the Renard mine plan. Results to date are, 1: Renard 3 successfully delineated to a depth of 315 meters, supporting its inclusion in the Renard production schedule above the 290 meter mining level in 2019, several years earlier than currently planned.   2: Renard 4 successfully sampled from surface, with approximately 3,000 carats recovered to date, including three special stones, supporting its potential development as a new open pit source of ore to supplement underground mine feed to the Renard process plant.  Matt Manson, President and CEO, commented: “The update provided today covers activities that have been ongoing at Renard during the course ...