Stornoway reports third quarter 2018 production and sales results

11 October 2018

Stornoway Diamond Corporation is pleased to provide production and sales results at the Renard Diamond Mine for the quarter ended September 30, 2018.  Highlights are as follows:

  • 184,620 carats sold in two tender sales for gross proceeds1 of $24.7 million2 at an average price of US$103 per carat ($134 per carat2). Third quarter diamond sales represent diamonds recovered during the second quarter.
  • Third quarter diamond production was 329,306 carats produced from the processing of 597,761 tonnes of ore at an average grade of 55 cpht. Grade and carat recoveries improved by 39% and 47% respectively compared to the second quarter with the mining of higher grade ore.
  • Ramp-up of the underground mine to its design capacity of 6,000 tonnes per day was successfully achieved at the end of August.