QUEBEC – This week in Amsterdam
Stornoway Diamond Corp. of Montreal made the first sale of diamonds from its Renard mine in the James Bay region. A total of 38,913 carats were sold at an average price of US$195 per carat for proceeds of US$7.6 million.
As of Nov. 15, 2016, 244,623 tonnes of ore had been processed and stones weighing 261,353 carats recovered from the mine. The average grade was 107 cpht (carats per hundred tonnes). Stornoway’s guidance for the 2016 calendar year was 220,000 carats produced, at an average grade of 97 cpht. The higher grade is attributable to a better than expected mix of ore available within the open pit for processing.
The focus of the ramp-up remains the management and dewatering of processed kimberlite. Ore treatment rates in October achieved an average of 3,114 t/d with a peak of 4,711 t/d. This increased to an average of 3,804 t/d and a peak of 6,357 t/d in the first half of November.
Commercial production at Renard is defined as 60% of plant capacity, or 3,600 t/d, over a 30-day period. This is expected to be achieved, on schedule, on or around Dec. 31, 2016.
Readers are invited to brush up on their diamond fundamentals at
www.StornowayDiamonds.com.
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