Stornoway Diamond Corporation Announced Acceptance of Transfer of the Certificate of Authorization

 Stornoway Diamond Corporation (TSX:SWY) received the transfer of the Certificate of Authorization for the construction of the Renard Mine Road from the Québec Ministère du Développement durable, de l’Environnement, de la Faune et des Parcs. Construction of the road will accomodate all-season vehicle access to the Renard Project and it is expected that permanent road access to Renard will be available by Q4 2013 to allow mine construction to commence.

As quoted in the press release:

Under the terms of the Framework Agreement, and a subsequent Financing Agreement entered into on November 30^th, 2012, Québec will complete the first 143km of road as a 70km/hr two-lane gravel highway as previously planned and Stornoway will undertake the construction of a 50km/hr single lane mining road over the remaining 97km. Québec will provide Stornoway with credit facilities of up to C$85 million to complete this work. To facilitate the road’s construction schedule, the MTQ will complete a winter road by March 2013 to allow temporary access to Renard and the mobilization of fuel, road construction equipment and camps.

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