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shear diamonds ltd (SRM) Details

Shear Diamonds Ltd., a diamond exploration company, engages in the exploration and development of diamond properties in Canada. The company has a portfolio of eight diamond projects in Nunavut, the Northwest Territories, and other jurisdictions. It primarily focuses on the 100% owned Jericho diamond mine and surrounding exploration assets located in the Kitikmeot region of Nunavut. The company was formerly known as Shear Minerals Ltd. and changed its name to Shear Diamonds Ltd. in December 2010. Shear Diamonds Ltd. is based in Toronto, Canada.

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shear diamonds ltd (SRM) Key Developments

Shear Diamonds To Transfer From Tier 2 To NEX

In accordance with TSX Venture Policy 2.5, Shear Diamonds Ltd. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on May 16, 2013, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Calgary to NEX.

Shear Diamonds Ltd. Announces Resignation of CFO and Directors

Shear Diamonds Ltd. announced the resignation of its CFO and two of its directors. Due to other significant time commitments both Pamela Strand and David Prince have resigned from the board of directors of the company. Greg Powell, CFO has also resigned.

Shear Diamonds Ltd. Suspends Production of its High Grade Stockpiles at Jericho Diamond Mine

Shear Diamonds Ltd. announced that it has suspended production of its high grade stockpiles at the 100% owned Jericho diamond mine as a result of continuing weak world diamond prices. During this interim phase and until prices improve, the company will look at exploration assets proximal to the Jericho site such as its Carat and Muskox properties, coupled with further definition of its in situ diamond resource at Jericho that will include diamond results from the company's in pit drilling. Having successfully recovered a significant number of carats from the high grade concentrate stockpiles and having successfully re-established continuing around-the-clock production at Jericho over the last months, the company has demonstrated that a significant number of diamonds went unrecovered during Jericho's previous operations.


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