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RAPAPORT... Shore Gold Inc. recorded a loss of $1 million in the first quarter that ended on March 31, compared with a loss of $1.5 million one year earlier. During the period, Shore Gold completed the technical review of the proposed Star-Orion South diamond project with the Canadian Environmental Assessment Agency (CEAA) and signed a memorandum of understanding with the First Nation, Cree Nation and Chakastaypasin Cree Nation.
The explorer continues to seek project development funds and reported working capital of $3.4 million at the close of the quarter. Star-Orion includes the company's Star diamond project, as well as Star West and the Orion South kimberlite, which fall within the adjacent Fort à la Corne joint-venture agreement with Newmont Canada.
The CEAA will invite the public to comment on the potential environmental effects of the Star-Orion project in coming months.
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