NI 43-101 Technical Report for the Renard Feasibility Study Filed by Stornoway

Stornoway Diamond Corp. (TSX:SWY) has filed a National Instrument 43-101 technical report at SEDAR, representing the qualifying report for the recently-announced Feasibility Study at the Renard Diamond Project located in North-Central Québec.

As quoted in the press release:

Highlights of the Feasibility Study, previously reported by Stornoway on November 16, 2011, are as follows:

• Base case estimates of Net Present Value (“NPV”) of C$672 million at a 7% discount rate and Internal Rate of Return (“IRR”) of 18.7% before taxes and mining duties, and C$376 million and 14.9% after taxes and mining duties.
• Probable Mineral Reserves of 18.0 million carats representing 23.0 million tonnes at an average grade of 78 carats per hundred tonnes (“cpht”), after allowance for mining dilution and ore recovery, and at a weighted average diamond valuation of US$180/carat.
• 11 year reserve-based mine life with maximum diamond production peaking at 2.1 million carats/annum, and averaging 1.7 million carats/annum life of mine.
• Gross revenue, in real terms, of C$4,112 million and operating cash flow of C$2,677 million.
• Initial estimated capital cost of C$802 million, including contingencies.
• An estimated operating cost averaging C$54.71/tonne ($70.27/carat) life of mine, and yielding an operating margin of 68%.

Click here to read the Stornoway Diamond Corp. (TSX:SWY) press release