Dominion Diamond Corporation announced that the percentage of its equity participation in the joint venture Buffer Zone Joint Venture at the Ekati diamond mine (Ekati) from February 1, 2017 increased from 65.3% to 72.0%, in accordance with the agreement on this joint venture.
Increase of ownership solution is a result of a minority partner does not participate fully in the capital program for the fiscal year 2017 Buffer Zone Joint Venture. The Company financed the components of those programs that are not funded by a minority partner.
Buffer Zone Joint Venture 106 includes extracting leases to 89,184 hectares and kimberlite pipes Jay (Jay) and Lynx (Lynx). July 6, 2016 Dominion has published the results of a positive feasibility study on the project of Jay.
Mine Ekati includes two joint venture - Core Zone Joint Venture and Buffer Zone Joint Venture, in which the proportion Dominion is 88.9% and 72.0%, respectively.
The source of all production in fiscal year 2017 were Buffer Zone Joint Venture.
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Canadian Exploration Company Shore Gold Inc. Reported updated results of diamond valuation from the project Star-Orion South (Star-Orion South), located in Saskatchewan, Canada.
Evaluation of diamond consignments obtained during the processing of about 300 tons of gross samples was carried out by WWW International Diamond Consultants.
Shore Gold reports that after the update, the cost of diamonds from the project increased by an average of 31% -125% against the prices determined in March 2008, and amounted to $ 161-333 per carat. This cost was determined for those diamonds that are on the largest kimberlite pipes that make up the Star-Orion South project.
In the company expect, That a significant increase in diamond prices in 2015 compared to 2008 will positively affect the renewal of estimates of the mineral resources of the project, which is currently being produced at Star-Orion South.
George Read, senior vice president of exploration and development, said: "Shore is pleased with these diamond prices, which have grown significantly since March 2008, when the initial valuation of the stones was made, thanks to a higher price for their diamonds Shore will be able to optimize the Star mine and 3 open mines in Orion South to maximize mineral resources and improve the economic performance of the entire project.The most expensive Star stones (11.96 carats worth $ 12,500 for rat) confirm the presence of such diamonds in the project. Earlier, we confirmed this and an estimate of the distribution of diamonds in size.
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