11 January 2018
Stornoway Diamond Corporation is pleased to provide production and sales results at the Renard Diamond Mine for the quarter and year ended December 31, 2017. Highlights are as follows:
Fourth quarter diamond production of 398,267 carats produced from the processing of 518,817 tonnes of ore with an attributable grade of 77 carats per hundred tonnes, compared to a plan of 415,940 carats from 540,000 tonnes at 77 cpht (96%, 96% and 100% respectively). FY2017 diamond production of 1.64 million carats produced from the processing of 1.96 million tonnes of ore with an attributable grade of 84 cpht, compared to a plan of 1.69 million carats from 2.00 mtonnes at 85 cpht (97%, 98% and 99% respectively). Fourth Quarter sales of 453,646 carats sold in two tenders (2017 sales #8 and #9) for gross proceeds 1 of $49.1 million 2, at an average price of US$86 per carat ( $108 per carat 2). FY2017 diamond sales of 1.7 mcarats sold in nine tenders and three out of tender sales for gross proceeds1 of $186.2 million 3, at an average price of US$85 per carat ( $109 per carat 3).