Shear Diamonds Update

Shear Diamonds Ltd. (TSXV:SRM) announced a processing and operations update regarding high-grade concentrate at its Jericho diamond mine.

As quoted in the press release:

Shear’s processing activities to date are meeting two of Shear’s three stated goals, in that (i) Shear has demonstrated that a significant number of diamonds went unrecovered by Jericho’s prior operators and can be recovered and (ii) Shear has acquired (and continues to acquire) key processing knowledge which can be applied to future production at Jericho. However, the recent drop in world diamond market prices, which are significantly lower than those used for Shear’s operating plans and budgets, will not generate sufficient cash flow to support operations.

Click here to read the Shear Diamonds Ltd. (TSXV:SRM) press release.