Last C$0.62 CAD
Change Today -0.02 / -3.12%
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As of 3:59 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

stornoway diamond corp (SWY) Snapshot

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stornoway diamond corp (SWY) Details

Stornoway Diamond Corporation operates as a diamond exploration and development company in Canada. The company’s principal asset is the Renard diamond project located near the Otish Mountains in north-central Quebec. Stornoway Diamond Corporation was founded in 1986 and is headquartered in Longueuil, Canada.

Founded in 1986

stornoway diamond corp (SWY) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$310.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$180.0K
Chief Operating Officer, Director, Member of ...
Total Annual Compensation: C$264.0K
Vice President of Asset Protection
Total Annual Compensation: C$175.0K
Vice President of Engineering & Construction
Total Annual Compensation: C$165.0K
Compensation as of Fiscal Year 2013.

stornoway diamond corp (SWY) Key Developments

Stornoway Diamond Corporation Appoints Douglas Silver to the Board of Directors

Stornoway Diamond Corporation announced the appointment of Mr. Douglas Silver to the Corporation's Board of Directors. Mr. Silver is a highly regarded mining and investment executive with more than 30 years of experience in the international mining industry. He is currently a portfolio manager of Orion Mine Finance, and joins the Stornoway board as a nominee of Orion following the recent closing of Stornoway's CAD 946 million comprehensive financing package for the Renard Diamond Project. Mr. Silver was the founder, CEO and Chairman of International Royalty Company, until its sale to Royal Gold Inc. in 2010.

Stornoway Diamond Corporation Announces Formal Production Decision at Renard

Stornoway Diamond Corporation announced that a formal decision to proceed to mine construction and production at the Renard Diamond Project has been made by the corporation's Board of Directors in connection with the recent closing of the project's comprehensive CAD 946 million financing package on July 8, and the overwhelming approval by Stornoway shareholders of resolutions relating to the financing on June 26. Concurrent with this announcement, a ground breaking ceremony was held on July 10, 2014 at the Renard Project site in the presence of M. Philippe Couillard, the Premier of Québec, M. Jacques Daoust, the Québec Minister of the Economy, Innovation and Exports, M. Jean Boucher, the Member of the Québec National Assembly for Ungava, Chief Richard Shecapio, Chief of the Cree Nation of Mistissini, Mme Manon Cyr, Mayor of Chibougamau and M. Steve Gamache, Mayor of Chapais. Project construction has now been fully mobilized, with commercial production on schedule for the second quarter of 2017 based on first plant commissioning in late 2016. The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Québec. In November 2011, Stornoway released the results of a Feasibility Study at Renard, followed by an Optimization Study in January 2013, which highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. Probable Mineral Reserves, as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, stand at 17.9 million carats.

North Arrow Minerals Inc. and Stornoway Diamond Corporation Announce Completion of June 2014 Till Sampling Program at Pikoo Diamond Project in Central Eastern Saskatchewan

North Arrow Minerals Inc. announced the completion of the June 2014 till sampling program at the Pikoo Diamond Project in central eastern Saskatchewan. A total of 441 till samples were collected during the four week program, which was intended to follow up on the 2013 discovery of diamond bearing kimberlite within the 33,000 ha property. All 2014 till samples are at the processing laboratory. Sample processing is under way and scheduled to continue through July and August. Results from the program will be used to evaluate selected potential kimberlite targets and provide more detailed regional coverage of the eastern portion of the property where numerous positive till samples are located but sample density has been insufficient to define individual kimberlite indicator mineral trains. Follow up exploration, including drilling, is tentatively planned for the fall 2014 and winter/spring 2015. The 2014 Pikoo exploration program is being conducted with Stornoway Diamond Corporation under an 80% (North Arrow) /20% (Stornoway) participating joint venture arrangement.


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