Samples from Stornoway's Renard Valuated at $182 p/c
June 14, 11(IDEX Online News) – A recent diamond valuation at Renard estimates the diamond samples from the Renard 2 and 3 kimberlite pipes at $182 p/c, an increase of 56% over the previous estimate made in September 2009.
Stornoway Diamond Corporation announced the results of the diamond valuation by WWW on Tuesday. A modeled diamond price estimate of $112 p/c was given to the diamond sample from the Renard 4 kimberlite pipe, an increase of 49% over the previous estimate.
According to Stornoway President and CEO Matt Manson, "The new price data are expected to have a very positive impact on the project's revenue profile and mining margin.
"Our feasibility study, which is on track for delivery in the third quarter, will outline a project with a high production rate, high diamond price, long mine life potential, and available road and power infrastructure in a leading, pro-mining jurisdiction. This combination of factors makes Renard one of the most compelling undeveloped diamond assets in the world," Manson added.