MONTRÉAL, Oct. 27, 2023 /CNW/ - Stornoway Diamonds Inc. announces today that it is temporarily suspending operations at its Renard mine located in Nord-du-Québec, in the Cree territory of Eeyou Istchee, effective immediately. The growing uncertainty of the diamond price in the short and medium term, coupled with the significant and sudden drop in the price of the resource on the world market, have had a major impact on [...]
Stornoway Diamonds Inc. announces that Mr. Patrick Godin and Ms. Annie Torkia Lagac? will be stepping down from their respective positions as President and Chief Executive Officer of the Corporation and Executive Vice President, Finance and Corporate Services. These changes will be effective as of June 26, 2020. Mr. Patrick S?vigny joined Stornoway in 2015 and is currently the Corporation’s Vice President Operations. He [...]
LONGUEUIL, Qu?bec,, April 14, 2020 -- Stornoway Diamonds Inc. announced today that it will extend the care and maintenance period of its operations due to depressed diamond market conditions despite the announcement of Qu?bec Minister of Natural Resources to restart mining activities in the province. The operations located in the James Bay territory had been suspended on March 24th, 2020 following the order by the Quebec [...]
Stornoway Diamond Corp. announced today that the Corporation and its subsidiaries, Stornoway Diamonds Inc., Ashton Mining of Canada Inc. and FCDC Sales and Marketing Inc. have obtained an approval and vesting order from the Superior Court of Quebec issued in connection with the proceedings under the Companies’ Creditors Arrangement Act . The Approval and Vesting Order approved the transactions contemplated in the [...]
Stornoway Diamond Corp. announced today that it has received notice that the Continued Listings Committee of the Toronto Stock Exchange has determined to delist the Corporation’s common shares and convertible debentures effective at the close of market on October 18, 2019. The Corporation does not intend to appeal the decision. The common shares and convertible debentures remain suspended from trading. As previously [...]
Stornoway Diamond Corp. announced today that the Corporation and its subsidiaries Stornoway Diamonds Inc. , Ashton Mining of Canada Inc. and FCDC Sales and Marketing Inc. have obtained an initial order from the Superior Court of Quebec for protection under the Companies’ Creditors Arrangement Act in order to restructure their business and financial affairs. As announced earlier today, on September 8, 2019 the SWY [...]
Stornoway Diamond Corp. announced today that the Corporation and its subsidiaries Stornoway Diamonds Inc. , Ashton Mining of Canada Inc. , and FCDC Sales and Marketing Inc. have applied today to the Superior Court of Quebec for protection under the Companies’ Creditors Arrangement Act in order to restructure its business and financial affairs. In connection with the CCAA filing, on September 8, 2019, the SWY Parties [...]
Stornoway Diamond Corp. announced today that the Toronto Stock Exchange has notified the Corporation that it is reviewing the eligibility of the Corporation’s securities for continued listing on the TSX pursuant to Part VII of the TSX Company Manual. The Corporation is being reviewed under the TSX’s remedial review process and has been granted 120 days to comply with all requirements for continued listing. If [...]
Stornoway Diamond Corp. reports its financial and operating results for the quarter ended June 30, 2019. FINANCIAL SUMMARY Revenues during the three months ended June 30, 2019 totalled $189.4 million, compared to $56.9 million for the three months ended June 30, 2018 . Revenues in the Current Quarter are made up of cash sales revenues of $40.7 million and non-cash revenues of $148.7 million. The non-cash revenues of [...]
Stornoway Diamond Corp. announces production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2019. Highlights are as follows: 460,832 total carats sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat . In terms of total carats sold, pricing and gross proceeds, this represents variations of +7%, -9% and -1% over the first quarter, respectively [...]
Stornoway Diamond Corp. announces production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2019. Highlights are as follows: 512,423 total carats sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat . In terms of total carats sold, pricing and gross proceeds, this represents variations of +7%, -9% and -1% over the first quarter, respectively [...]
Stornoway Diamond Corp. announced today that: Stornoway along with its material subsidiaries , entered into a binding bridge financing agreement with certain secured lenders and key stakeholders providing for a senior secured bridge credit facility to ensure the Corporation continues to operate uninterrupted in accordance with its plan during the strategic review process with a view to seek out proposals for, and pursue [...]
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