|
|
Shore Gold’s Loss Trebles on Higher Diamond Exploration Spend
Mar 31, 2016 5:39 AM
By Rapaport News
|
|
|
Star-Orion South Project, Canada
RAPAPORT... Shore Gold more than trebled its loss last year on higher exploration and evaluation costs related to the Star-Orion South Diamond Project in Canada.
The loss of
$7.1 million (CAD 9.1 million), compared with $2.3 million a year earlier,
resulted from a six-fold increase in exploration and valuation expenses to $4.8
million, the diamond exploration company said in a statement March 23.
The Star-Orion
project in Saskatchewan comprises the Star kimberlite, which has an indicated
mineral resource of 28.2 million carats, and the Orion South kimberlite, which
has an indicated mineral resource of 27.1 million carats.
A new mine
plan is expected in 2016, with preliminary calculations suggesting this and a
new feasibility study can increase the mineral resource estimate and reducing both
pre-production capital costs and the length of time until diamonds production.
|
|
|
|
|
|
|
|
|
|
Tags:
Canada, development, exploration, mining, Rapaport News, Saskatchewan, Shore Gold, star-orion, Star-Orion South Diamond Project
|
|
|
|
|
|
|
|
|
|
|