Stornoway Diamond Corp (SWY.TO)
21 Oct 2016
Latest Key Developments (Source: Significant Developments)
Stornoway Diamond Corp
Stornoway Diamond:Completes the drawdown of the first $80 mln tranche of diamond stream funding from Orion Mine Finance and the the Caisse de depot et placement du Quebec.Under Stornoway's C$946 mln project financing transaction, which closed on July 8th, 2014, a total of $250 mln in upfront stream payments were committed by Orion and the CDPQ to fund in three tranches, scheduled for March, Sept and March 2016.Drawdown of each tranche is conditional upon the satisfaction of certain terms and conditions, including the independent certification of construction progress at the Renard Diamond Project and its cost to complete being within plan.With these conditions having been met, the first stream tranche has been funded on schedule. Full Article
TORONTO Anglo American Plc's De Beers has put its Snap Lake diamond mine in Canada up for sale after suspending operations at the unprofitable mine last December, a spokesman said on Friday.