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April 15, 2014
06:34 EDTDDCDominion Diamond reports processing volume in Q1 increased 17% YoY
Dominion Diamond reports that in the first calendar quarter of 2014, the Diavik Diamond Mine saw continuing strong performance. During the first calendar quarter of 2014, the Diavik Diamond Mine produced 1.9M carats from 600,000 tonnes of ore processed compared to 1.9M carats from 500,000 tonnes of ore processed in the comparable quarter of the prior year. Processing volumes in the first calendar quarter of 2014 were 17% higher compared to the same quarter of the prior year as a result of continuing improvements in mining rates as the underground ramp up progressed to full production from all three kimberlite pipes. Carat production from first quarter 2014 was 4% lower compared to the comparable quarter of the prior year, primarily as a result of mining and processing a greater proportion of the lower grade A-154 North ore.
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March 23, 2015
09:34 EDTDDCIAMGOLD to sell Diavik Diamond royalty to Sandstorm Gold for $56.8M
AMGOLD (IAG) announced that it has completed an agreement with Sandstorm Gold (SAND) to sell the Company's gross proceeds royalty over property in Lac de Gras in the Northwest Territories, Canada, including property constituting the Diavik Diamond Mine. The Diavik Diamond Mine is owned, under an unincorporated joint venture structure, 60% by Diavik Diamond Mines, a subsidiary of Rio Tinto (RIO), and 40% by Dominion Diamond Diavik Limited Partnership, a subsidiary of Dominion Diamond (DDC). The Diavik Diamond Royalty is being sold for total proceeds of $56.8M, comprised of $52.5M cash on closing and three million five-year warrants exercisable after initial production from the Diavik Diamond Mine's A21 pipe at an exercise price of $4.50, valued at $4.3 million based on the Company's internal valuation methodology.

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