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Post by Franko10 ™ on Mar 1, 2005 22:20:43 GMT -5
Special Thanks to ksbradley fpr keeping us up to date on these
Shore diamond values released
The long awaited announcement for the average value of diamonds from the Star Diamond Project, owned by Shore Gold has finally been released - and the results have executives and investors feeling optimistic.
By Colin McGarrigle of The Journal
Tuesday March 01, 2005
Melfort Journal — The long awaited announcement for the average value of diamonds from the Star Diamond Project, owned by Shore Gold has finally been released - and the results have executives and investors feeling optimistic.
George Read, senior vice president of exploration for Shore Gold, announced on February 23 that the average value of diamonds from their bulk sampling project in the Fort a la Corne area is US$135 per carat.
The news sent Shore Gold stocks soaring on the Toronto Stock Exchange, as they reached a high of $6.15 a share the day after the announcement. As of press time, shares had settled to $4.74.
"Shore Gold is very pleased with this high modeled value of US$135 per carat. Based on these results, it is expected that Shore will commence a pre-feasibility study, which aims to determine a mineral reserve for the Star Kimberlite," said Read.
"The pre-feasibility study will include underground drilling preceding the extraction of some 10,000 tonnes of kimberlite, core and large diameter surface drilling, a desktop engineering study and the commencement of an environmental baseline study," Read explained on the next steps for the company.
The average modeled value of US$135 lies between a 'minimum' of US$110 and a 'high' of US$162.
The value was determined after four companies examined the 3,050 bulk sample. R. Steinmetz and Sons N.V., WWW International Diamond Consultants Ltd., Rio Tinto Diamonds N.V., and BHP Billiton Diamonds (Belgium) N.V.
www.melfortjournal.com/story.php?id=146280
Shore diamond values released
The long awaited announcement for the average value of diamonds from the Star Diamond Project, owned by Shore Gold has finally been released - and the results have executives and investors feeling optimistic.
By Colin McGarrigle of The Journal
Tuesday March 01, 2005
Melfort Journal — The long awaited announcement for the average value of diamonds from the Star Diamond Project, owned by Shore Gold has finally been released - and the results have executives and investors feeling optimistic.
George Read, senior vice president of exploration for Shore Gold, announced on February 23 that the average value of diamonds from their bulk sampling project in the Fort a la Corne area is US$135 per carat.
The news sent Shore Gold stocks soaring on the Toronto Stock Exchange, as they reached a high of $6.15 a share the day after the announcement. As of press time, shares had settled to $4.74.
"Shore Gold is very pleased with this high modeled value of US$135 per carat. Based on these results, it is expected that Shore will commence a pre-feasibility study, which aims to determine a mineral reserve for the Star Kimberlite," said Read.
"The pre-feasibility study will include underground drilling preceding the extraction of some 10,000 tonnes of kimberlite, core and large diameter surface drilling, a desktop engineering study and the commencement of an environmental baseline study," Read explained on the next steps for the company.
The average modeled value of US$135 lies between a 'minimum' of US$110 and a 'high' of US$162.
The value was determined after four companies examined the 3,050 bulk sample. R. Steinmetz and Sons N.V., WWW International Diamond Consultants Ltd., Rio Tinto Diamonds N.V., and BHP Billiton Diamonds (Belgium) N.V.
www.melfortjournal.com/story.php?id=146280
