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RAPAPORT... Shore Gold Inc. reported a net loss of about $900,000 for the second quarter that ended on June 30. The explorer narrowed its loss from $1.6 million one year earlier. Shore Gold also reduced its loss for the first half of the year to $1.8 million compared with $3.1 million in 2013, as a result of lower exploration and evaluation expenditures related to the Start - Orion South diamond project.
The company has completed its technical review of the Star - Orion project through the Canadian Environmental Assessment Agency, submitted the final version of its Environmental Impact Statement, and has signed a memorandum of understanding with the James Smith First Nation, Peter Chapman Cree Nation and Chakastaypasin Cree Nation. Shore Gold stated that it continues to seek project development capital. As of June 30, the company recorded working capital of $2.7 million.
Star - Orion is situated in the Fort à la Corne kimberlite field in central Saskatchewan, Canada and includes the Star diamond project, as well as Star West and the Orion South kimberlite, which fall within the adjacent Fort à la Corne joint venture with Newmont Canada FN Holdings.
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