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RAPAPORT... Stornoway Diamond Corporation appointed Douglas Silver to the company's board of directors. Silver is regarded as a mining and investment executive with more than 30 years of experience in the industry. He is currently a portfolio manager of Orion Mine Finance and joins the Stornoway board as a nominee of Orion following the recent closing of Stornoway's $946 million comprehensive financing package for the Renard diamond project.
Silver was the founder, CEO and chairman of International Royalty Company, one of the largest publicly traded mining royalty companies, until its sale to Royal Gold Inc. in 2010.
Ebe Scherkus, the chairman of the board for Stornoway, said, "On behalf of my fellow directors, I am very happy to welcome Douglas to the Stornoway board following the successful completion of our recent project financing transactions. Doug's breadth of experience in the international mining business will greatly benefit Stornoway as we move on to the next crucial phases of project construction, commissioning and operation at Renard."
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