TORONTO TAHERA DIAMOND CORP. has raised $45.05 million toward the development costs of its Jericho diamond mine near Contwoyto Lake, Nunavut. The underwriters of Tahera’s common share offering sold 132.5 million shares at $0.34 each. The underwriters have also snapped up an over-allotment option to purchase another 15.34 million shares to raise an additional $5.2 million. As well, Tahera has arranged a $35-million credit facility with Tiffany & Co.
Capital expenditures to bring the Jericho diamond mine into commercial production in 2006 are estimated to be $65 million.
Tahera’s latest corporate presentation was posted earlier this month on its website, www.tahera.com.