TORONTO - AGNICO-EAGLE MINES has increased its interest in STORNOWAY DIAMOND CORP. of Vancouver. Agnico has agreed, subject to final approval of the Toronto Stock Exchange, to accept shares of Stornoway in return for assignment of a promissory note from Contact Diamond Corp., a Stornoway subsidiary. Agnico will then hold a 14.8% interest in Stornoway.
Earlier this month, Stornoway completed the takeovers of Ashton Mining of Canada and Contact Diamond. See www.StornowayDiamonds.com for details of the transactions.