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Stock Market & Financial Investment News

News Breaks
July 16, 2014
06:34 EDTDDCDominion Diamond reports Diavik Mine Q2 production up 17% to 0.62M tonnes
Processing volumes in Q2 were 17% higher than compared to the same quarter of the prior year as a result of improvements in the mining rates as the underground ramp up progressed throughout 2013 to full production from all three kimberlite pipes, and improvements in the availability and utilization of the processing plant. The 38% increase in diamonds recovered in Q2 was the result of a combination of higher realized grades in all three ore bodies, and a higher volume of ore processed.
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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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