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Stornoway announces C$129m financing package

By: Creamer Media Reporter      3rd October 2018 Quebec diamond miner Stornoway has announced a series of financing transactions, totalling $129-million, with lenders and key stakeholders to provide greater financial and operational flexibility. The financing package is made up of a deferral of certain loan principal repayments for a 24-month... 

Stornoway says Renard set for higher processing, carat recoveries in H2

By: Mariaan Webb     6th July 2018 The Renard diamond mine, in Quebec, has fully transitioned to underground mining, its new ore sorting plant is operational and the mine is now set for higher processing rates, grades and carat recoveries in the second half of the year. The transition from openpit operations and the completion of... 

Stornoway suspends operations at Renard owing to fire

By: Creamer Media Reporter      2nd July 2018 Quebec diamond mine owner and operator Stornoway Diamond Corporation said on Monday that mining operations at the Renard diamond mine have been temporarily suspended, owing to a forest fire. On Monday morning, the fire was located 12.6 km south of the mine, but just 3.6 km south of the Clarance... 

Stornoway swings to FY loss

By: Henry Lazenby     26th March 2018 Diamond producer Stornoway Diamond Corp has swung to a net loss of $114.6-million for 2017, compared with net income of $19.6-million in 2016. Longueuil, Quebec-based Stornoway said its full-year results reflected a lower diamond price environment than originally forecast. 

New Lucara management to focus on Karowe, digital sales platform

By: Schalk Burger     22nd March 2018 JOHANNESBURG (miningweekly.com) – TSX-listed diamond miner Lucara has announced that incoming Lucara CFO and corporate secretary Zara Boldt will join the management team as the company focuses on increasing the value of its core diamond mining business at Karowe, Botswana, and on supporting the... 

Lucara buys digital sales platform, refreshes board

By: Megan van Wyngaardt     26th February 2018 Botswana-focused miner Lucara Diamond has acquired Clara Diamond Solutions, a company whose primary asset is a secure, digital sales platform aimed at transforming how rough diamonds are sold. Lucara noted that the platform would unlock value for diamond producers and manufacturers alike. 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

By: Henry Lazenby     13th October 2017 Quebec’s sole diamond operator Stornoway Diamond Corp has reported strong third-quarter production and sales results, despite a rough market correction at the end of the quarter that served to slow the rate of increase. Earlier this week, the Longueuil, Quebec-based company reported production... 

Despite ongoing diamond breakage, Stornoway reports higher prices for its gems

By: Henry Lazenby     16th August 2017 Quebec-based miner Stornoway Diamond Corp has reported higher prices for rough diamonds produced at its flagship Renard mine, the Francophone province’s first diamond mine. For the three months ended June 30, Stornoway earned revenues of C$42.6-million, as rising rough diamond prices at Renard... 

Osisko increases Q3 dividend by 25%

By: Anine Kilian     4th August 2017 TSX- and NYSE-listed gold miner Osisko Gold has declared a third-quarter dividend of C$0.05 per common share, representing a 25% increase from the previous quarterly dividend of C$0.04 per common share. CEO Sean Roosen noted that the continued strong performance of the company’s portfolio of... 

Osisko acquires high-quality previous metals portfolio

By: Samantha Herbst     2nd August 2017 TSX- and NYSE-listed Osisko Gold Royalties has acquired a high-quality precious metals portfolio of assets comprising 74 royalties, streams and precious metal offtakes from Orion Mine Finance Group, in exchange for $675-million and about 31-million shares in Osisko. Osisko now holds a total of... 

Stornoway missing out on improved market price for Renard diamonds; completes ramp-up

By: Henry Lazenby     12th July 2017 Canadian diamond producer Stornoway Diamond Corp reveals that ongoing diamond breakage in the Renard process plant are reducing the proportion of larger diamonds available for sale and dimming revenues, while market sentiment for Renard’s precious gems is on the up. The Longueuil, Quebec-based... 

Stornoway tracks ahead of plan – maiden quarterly report

By: Henry Lazenby     10th May 2017 Quebec’s sole diamond producer Stornoway Diamonds has issued its maiden first-quarter operating and financial results report, showing that mining rates, development progress in the underground mine, and carat production all continue to exceed plan. The Longueuil, Quebec-based company, which... 

Richmont cherry-picks Stornoway CFO

By: Henry Lazenby     26th January 2017 Intermediate gold miner Richmont Mines has hired 20-year mining finance veteran Robert Chausse as CFO, cherry-picking him from Quebec diamond miner Stornoway Diamonds, which last year commissioned its Renard project. Chausse, a chartered accountant, previously held a similar role at AuRico Gold,... 

Stornoway achieves commercial production at Renard

By: Henry Lazenby     23rd December 2016 Stornoway Diamond Corp has reached commercial production at its Renard mine, in Quebec, achieving the milestone well ahead of plan and comfortably within the revised lower C$775-million budget set out in February, the company said Thursday. Under the terms of Stornoway’s financing agreements, the... 

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