Stornoway Posts Profit, Reports 17% Completion Rate at Rénard

Mining and Exploration
13/03/2015 10:24

Stornoway Diamond Corp, which is developing the Renard diamond project in Quebec, posted net income of $7.7 million for its fiscal third quarter ending on January 31 and also announced that construction was 17.4% complete. The Renard mine is expected to produce an average of 1.6 million carats per year over an initial 11-year mine life once in full production, with commercial production scheduled for the second quarter of 2017.