New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 21, 2014
06:37 EDTDDCDominion Diamond releases updated mine plan for Ekati Diamond Mine
Dominion Diamond announces that the Company has promoted the Misery Satellite material previously identified as an exploration target to an inferred resource. The Company also released an updated mine plan for the Ekati Diamond Mine. This current mine plan assumes production from Misery, Pigeon and Lynx open pits, and the Koala and Koala North underground operations. The mining of the Fox pit was completed this year. Koala North is currently in production as a sub level retreat underground operation and is scheduled to finish later this year. Koala is currently in production as a sublevel / inclined cave underground operation and is scheduled to finish in fiscal 2020. Stripping of waste material and satellite kimberlite is in progress at Misery open pit with expected full year production from the Misery Main Pipe in FY16 and completion of mining in FY18. Stripping of waste material from Pigeon open pit is scheduled to commence this year with mining of kimberlite commencing in FY16 and finishing in FY20.
News For DDC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use