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Reuters reported that Bob Gannicott, CEO of Dominion Diamond Corp. (TSX:DDC,NYSE:DDC), said this morning in a call with investors and analysts that his company plans to start production at Jay Pipe, a new area near Dominion’s Ekati mine, by 2020.
Reuters reported that Bob Gannicott, CEO of Dominion Diamond Corp. (TSX:DDC,NYSE:DDC), said this morning in a call with investors and analysts that his company plans to start production at Jay Pipe, a new area near Dominion’s Ekati mine, by 2020. The company is currently “flush with cash” from its recent deal with the Swatch Group Ltd. (VTX:UHR).
As quoted in the market news:
On a call with analysts and investors on Thursday morning, Chief Executive Bob Gannicott said Dominion aims to start production at Jay by 2020. Once more details are finalized, it will consider share buybacks or a dividend.
‘We’re certainly not going to just sit on the cash,’ he said, ‘But we need to have confidence in our economic forecasts going forward through the Jay development.’