Stornoway announces second quarter production and sales results

12 July 2017

Stornoway Diamond Corporation is pleased to provide production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2017. Highlights include:

• 417,362 carats produced from the processing of 512,005 tonnes of ore with an attributable grade of 82 carats per hundred tonnes.
• Average processing rate of 6,149 tonnes per day achieved in June, exceeding plant’s nameplate capacity and marking the on-schedule completion of the project’s production ramp-up.
• 350,159 carats sold in two scheduled sales (2017 sales #4 and #5) for gross proceeds of C$40.9 million, at an average price of US$87 per carat (C$117 per carat).
• An additional 151,135 carats sold in a sale completed subsequent to the quarter end (2017 sale #6), for gross proceeds of C$19.8 million, at an average price of US$101 per carat (C$131 per carat).
• +19% increase in pricing for Renard diamonds since sales began, expressed in real terms after accounting for size distribution and quality variations.

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