FORT À LA CORNE KIMBERLITES ORION NORTH KIMBERLITES: TECHNICAL UPDATE

Star Diamond Corporation (TSX: DIAM) ("Star Diamond" or the "Company") is pleased to provide this technical update on the Orion North Kimberlites. Orion North is a cluster of four contiguous kimberlites that have been erupted in close proximity to each other. These four kimberlites that form Orion North represent the largest volume of contiguous, diamond-bearing kimberlite on Earth. The four kimberlites within Orion North are referred to by their original geophysical target numbers: K147, K148, K120 and K220. The location of these kimberlites relative to the Star and Orion South kimberlites is shown on the Regional Map.

Highlights

The partially evaluated Orion North kimberlites (K147/K148, K120 and K220) are estimated to contain more than 500 million tonnes of diamond bearing kimberlite ( News Release Mar 06, 2014 ).
Initial diamond parcels recovered from large diameter drill ("LDD)") samples from Orion North kimberlites K120, K147/K148, all contain diamonds over one carat, including two high value stones of 7.50 and 6.88 carats, respectively. The presence of these large, high-quality diamonds points to the potential for coarse diamond size frequency distributions for the Orion North kimberlites.
The Orion North kimberlites have significantly elevated proportions of Type IIa diamonds , particularly K147/K148, which has 52 percent Type IIa diamonds in the size range from 0.05 to 7.00 carats.
Rio Tinto Exploration Canada Inc. ("RTEC") conducted extensive exploration work between 2017 and 2022 to prioritize the Fort à la Corne kimberlites outside of Star and Orion South. This work, using the latest exploration techniques, enabled them to conclude that Orion North is the target for further exploration and evaluation .

Orion North: More than 500 Million Tonnes of Diamond Bearing Kimberlite

The Target for Further Exploration ("TFFE") estimated for the significant economic kimberlite units with Orion North is estimated to include between 511 and 609 million tonnes of kimberlite containing some 25 and 50 million carats of diamonds. The TFFE is conceptual in nature and is not a Mineral Resource and it is uncertain whether further exploration work will result in the TFFE being delineated as a Mineral Resource. The details of the TFFE estimates for the individual kimberlites are listed in Table 1 below.

Table 1. TFFE Summary Table for Orion North

Kimberlite Body	Range of Tonnes ¹ (000's)	Range of Grade ² (cpht, DTC+1)	Range of Carats ³ (000's, DTC+1)
Orion North (K120) EJF	170,749 – 198,723	5.27 – 10.94	9,732 – 20,209
Orion North (K147, K148, K220) EJF 3 & 4	340,421 – 410,302	2.75 – 8.37	15,740 – 30,241
Total	511,170 – 609,025		25,472 – 50,450

¹ The range of tonnes is based on the standard deviation of the specific gravity measurements for each kimberlite body and lithologic unit.

² Range of grades reflects the lowest and highest grades from all the lithologic units within each kimberlite body.

³ Kimberlite carat ranges are a summation of the low and high ranges of carats for all the lithologic units in each kimberlite body.

The TFFE has been calculated using macrodiamond results from existing LDD holes and incorporates the average LDD grade adjustment factors used in previous evaluations of the Star and Orion South Kimberlites. The TFFE calculation procedures were found to reproduce the existing Star and Orion South Resource models to well within the variance envelope of the underlying data sets and the errors inherent in the estimation procedures employed. The details of the evaluation data for the kimberlites included in the TFFE are included in Table 2 below.

Table 2. Drilling Statistics for Kimberlites included in the TFFE

Kimberlite Body

Area
(ha)

Core Holes
Drilled

Total Core
Drilling (m)

SG ¹

(#)

#LDD ²

(#)

LDD ³
(Tonnes)

LDD ⁴ Carats
(DTC +1)

K120

105

50

12,345

468

15

5,190

296

K147/K148, K220

320

181

40,029

1,051

15

4,986

171

¹ Number of specific gravity measurements for each kimberlite body.

² Number of large diameter drill holes (LDD) used in TFFE for each kimberlite body.

³ Total LDD tonnes from all lithological units from each kimberlite body used in TFFE.

⁴ Total LDD carats from all lithological units from each kimberlite body used in TFFE.

These TFFE tonnage and carat estimates confirm that the initial sampling already conducted on Orion North justifies further exploration and evaluation and Orion North is a potential target for future Trench Cutter ("TC") bulk sampling. Significant drilling has been completed over time on the Orion North kimberlites and the details of these drill programs to date are documented in Table 3 below and the Detailed Map.

Table 3. Orion North Drill Program Details

Kimberlite	Project Year	Number of Holes	Hole Type	Meters Drilled
K120	1991-2020	69	Core & RCA	16,836.45
K120	2007-2008	16	LDD	3,762.54
K147	1991-2020	84	Core & RCA	17,820.39
K147	1999-2006	8	LDD	1,758.28
K148	1991-2020	96	Core & RCA	21,493.13
K148	2006-2007	9	LDD	1,956.27
K220	1996-2006	15	Core & RCA	3,343.90

Orion North: Coarse Diamond Size Frequency Distribution

LDD mini-bulk samples from Orion North K120 and K147/K148 have yielded a significant number of diamonds 0.9 carat and above ( Table 4 ). The elevated proportion of these larger diamonds in LDD mini-bulk samples is anomalous and speaks to the potential for a coarse diamond size frequency distribution in these Orion North kimberlites.

Table 4. Orion North Diamond Statistics for LDD Mini-bulk Samples

Kimberlite

Total
Carats

Total
Stones

Stones
>0.9 carat

Largest Stone
(Carats)

K120

297

3,410

25

7.53

K147/ K148

171

1,960

16

6.89

Orion North: Significant Proportions of Type IIa Diamonds

Type IIa diamonds are very rare and account for less than 2 percent of all natural rough diamonds mined from kimberlites. Only a small number of active diamond mines regularly produce Type IIa diamonds with the most important of these mines being Letseng-la-Terae (Letseng Mine) in the Kingdom of Lesotho and more recently Karowe in Botswana . While Letseng is a low grade (1.5-3 cpht) kimberlite and Karowe approximately (15 cpht), they are probably the most prolific source of large high-value Type IIa diamonds, which contribute to making Letseng and Karowe highly economic deposits. The number and the percentage of Type IIa diamonds for the major EJF units at Orion North are documented in Table 5 below. As shown in Table 5, the 10.8 percent proportion of Type IIa diamonds in K120 is significantly elevated, the 52.1 percent Type IIa proportion in K147/K148 is uniquely high and suggests that K147/K148 has the potential to host many large diamonds.

Table 5. Orion North Kimberlite (Diamonds +7 DTC (0.05 carats) to 7 carats)

Geological Unit

Number of
Diamonds Typed

Number of

Type IIa Diamonds

Percentage

Type IIa Diamonds

Early Joli Fou K147/K148 (LDD)

1,019

531

52.11

Early Joli Fou K120 (LDD)

1,545

167

10.81

The largest stones from the EJF in each kimberlite, both of which are also the highest value stones, are listed in Table 6 below. Diamond descriptions and valuations were completed by Mr. Nelson Karun , Diamond Specialist.

Table 6. Description and Valuation of Largest Diamonds Recovered from K120 and K147/K148

Kimberlite

(Early Joli Fou)

Size
(carats)

Type

Colour

Model

Estimated Price
US$/Carat

Estimated Stone Value
US$ (May 2022)

K120

7.50

I

H

Makeable

4,051

30,391

K147/K148

6.88

IIa

VTLB (H)*

Makeable

3,544

24,404

*VTLB Very Top Light Brown Polishes to the equivalent of H colour

Senior VP Corporate Development Star Diamond, George Read , states: "The Orion North kimberlites have been shown to exhibit a unique set of attributes which make them a target for future exploration: over 500 million tonnes of diamond-bearing kimberlite with coarse diamond size frequency potential and significantly elevated proportions of Type IIa diamonds, particularly in K147/K148. The coarse diamond size frequency distributions, abundance of Type IIa diamonds and the shallower overburden (some 93 metres) offset the relatively low grade (8-11 cpht) and, with additional evaluation, have the potential to have positive economics."

All technical information in this press release has been prepared under the supervision of George Read, Senior Vice President Corporate Development, a registered Professional Geoscientist in the Provinces of Saskatchewan and British Columbia and Mark Shimell, Vice President Exploration, a registered Professional Geoscientist in the Province of Saskatchewan and Alberta , who are the Corporation's "Qualified Persons" under the definition of NI 43-101.

About Star Diamond Corporation

Star Diamond is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the trading symbol "DIAM". Star Diamond's most significant asset is its interest in the Fort à la Corne property in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.

Stay Connected with Us:

Twitter: https://twitter.com/StarDiamondCorp
LinkedIn: https://www.linkedin.com/company/star-diamond-corp
Facebook: https://www.facebook.com/people/Star-Diamond-Corp/100058096376664/
Instagram: https://www.instagram.com/stardiamondcorp/

Caution Regarding Forward-looking Statements

This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. The use of any of the words "anticipate", "plan", "aim", "target", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "shall", "project", "should", "could", "would", "believe", "predict", "forecast", "pursue", "potential", "possible", "capable" and similar expressions are intended to identify "forward-looking statements. Forward-looking statements in this press release include, but are not limited to, expectations regarding the completion of the transactions that are the subject of the Agreement and the Project's potential to be a significant contributor to both the local communities and the broader Saskatchewan economy.

These forward-looking statements are based on Star Diamond's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific. Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings and the additional risks described in Star Diamond's most recently filed Annual Information Form, annual and interim MD&A.

Although management of Star Diamond considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to Star Diamond , those assumptions may prove to be incorrect. When making decisions with respect to Star Diamond , investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events.

Star Diamond does not undertake any obligation to release publicly revisions to any forward-looking statement to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors' own risk.

SOURCE Star Diamond Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2023/12/c1209.html

News Provided by Canada Newswire via QuoteMedia

Star Diamond DIAM:CA Diamond Investing

DIAM:CA

STAR DIAMOND CORPORATION COMPLETES ACQUISITION OF RIO TINTO'S 75% INTEREST IN FORT À LA CORNE JOINT VENTURE

TSX: DIAM

Star Diamond Corporation (" Star Diamond ") today announced the completion of its previously announced transaction (the " Transaction ") with Rio Tinto Exploration Canada Inc. (" RTEC ") whereby RTEC has transferred to Star Diamond all of RTEC's 75% interest in the Fort à la Corne diamond project located in central Saskatchewan (the " Project "). Star Diamond now owns 100% of the Project.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

STAR DIAMOND CORPORATION ANNOUNCES 2023 YEAR END RESULTS

TSX: DIAM

Star Diamond Corporation ("Star Diamond" or the "Company") reports that the audited financial results for the year ended December 31, 2023 will be filed today on SEDAR+ and may be viewed at www.sedarplus.ca once posted.

Overview
Star Diamond Corporation is a Canadian natural resource company focused on exploring and developing Saskatchewan's diamond resources. Star Diamond currently holds, through a joint venture arrangement with Rio Tinto Exploration Canada Inc. ("RTEC"), a wholly-owned subsidiary of Rio Tinto plc, a 25% interest in certain mineral properties (which include the Star – Orion South Diamond Project, or the "Project") within the Fort à la Corne diamond district of central Saskatchewan, Canada . These properties are in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.

The Company also holds a 50% interest in the exploration and evaluation properties and assets of the Buffalo Hills JV located in north-central Alberta, Canada . Canterra Minerals Corporation ("Canterra") holds the remaining 50% interest. Canterra is the operator of the Buffalo Hills JV.

Fort à la Corne mineral properties
On November 28, 2023 , the Company entered into a binding agreement (the "Agreement") with RTEC, providing for the transfer by RTEC to Star Diamond all of RTEC's 75% interest in the Project.

The Agreement provides that, upon closing:

RTEC will transfer to Star Diamond all of RTEC's 75% interest in the Project, such that the Project will be 100% owned by Star Diamond ;
RTEC will transfer to Star Diamond ownership of the trench cutter drill rig used by RTEC to complete its prior bulk sampling program at the Project;
RTEC will transfer to Star Diamond the Bulk Sample Plant located at the Project, including the TOMRA XRT diamond sorting machine that is on-site;
Star Diamond will issue to RTEC and/or an affiliate that number of common shares of Star Diamond that results in RTEC and its affiliates owning 19.9% of the then outstanding common shares of Star Diamond (RTEC and its affiliates currently own approximately 2.3% of Star Diamond's outstanding common shares); and
RTEC and Star Diamond will enter into an Investor Rights Agreement whereby, among other things, RTEC will be granted certain pre-emptive rights to maintain its 19.9% ownership interest in Star Diamond in connection with future financings undertaken by Star Diamond , and RTEC will agree to certain standstill protections provided that RTEC will have the right to increase its 19.9% ownership position in the event that Star Diamond receives an acquisition proposal.

Upon completion of the transactions that are the subject of the Agreement, Star Diamond will have full control and responsibility for the Project, the existing joint venture agreement between RTEC and Star Diamond will terminate, and Star Diamond will release and indemnify RTEC for liabilities arising from or relating to the Project, all in exchange for a $4 million payment from RTEC to Star Diamond . RTEC has agreed that it will provide on Star Diamond's behalf, for up to five years following closing, letters of credit in the aggregate amount of no more than $9.9 million to secure certain environmental remediation and reclamation obligations related to the Project. Star Diamond will be obliged to repay any amounts drawn on these letters of credit and such repayment obligations will be secured against the Project and its assets.

As of the date of this News Release, the Agreement is expected to close in the near future.

Recent activities relating to the Star - Orion South Diamond Project and Fort à la Corne mineral properties
During the first quarter of 2024, Star Diamond continued to work with RTEC and Saskatchewan Ministry of Environment representatives to ensure an orderly close to the Agreement between Star Diamond and RTEC.

Year End Results
For the year ended December 31, 2023 , the Company recorded a net loss of $2.8 million or $0.01 per share (basic and fully diluted) compared to a net loss of $68.8 million or $0.15 per share in 2022. The decrease in net loss year over year was due primarily to the prior year's impairment charge of $66.3 million combined with the mark-to-market loss on the Wescan investment offset by the elimination of the $0.9 million contingent consideration.

At December 31, 2023 , the Company had $0.6 million (2022 – $2.6 million ) in cash and cash equivalents and a working capital deficit of $(0.3) million (2022 - $2.0 million ). The decrease in working capital was a result of administrative and exploration and evaluation expenditures offset by proceeds received from the December 2023 private placement. Subsequent to December 31, 2023 , the Company closed the second and final tranche of a non-brokered private placement. However, the ability of the Company to continue as a going concern and fund its expenses in an orderly manner will require additional forms of financings.

Selected financial highlights include:

Condensed Consolidated Statements of Financial Position	As at December 31, 2023	As at December 31, 2022
Current assets	$ 0.6 M	$ 2.7 M
Exploration and evaluation, investments and other assets	0.6 M	0.4 M
Current liabilities	0.9 M	0.7 M
Non-current liabilities	0.1 M	0.0 M
Shareholders' equity	0.2 M	2.4 M


Consolidated Statements of Loss	Year Ended December 31, 2023	Year Ended December 31, 2022
Expenses	$ 3.0 M	$ 3.0 M
Loss before undernoted items	(3.0)M	(3.0)M
Investment in Wescan Goldfields Inc.	(0.0)M	(0.4)M
Contingent consideration	0.0 M	0.9 M
Impairment charge	0.0 M	(66.3)M
Net loss for the year	(3.0)M	(68.8)M
Net loss per share for the year (basic and diluted)	(0.01)	(0.15)


Condensed Consolidated Statements of Cash Flows	Year Ended December 31, 2023	Year Ended December 31, 2022
Cash flows used in operating activities	$ (2.3)M	$ (4.9)M
Cash flows from investing activities	0.0 M	0.6 M
Cash flows from financing activities	0.2 M	5.7 M
Net increase (decrease) in cash	(2.1)M	1.3 M
Cash – beginning of year	2.6 M	1.3 M
Cash – end of year	0.6 M	2.6 M

Outlook
Fort à la Corne mineral properties
Subsequent to the successful close of the Agreement with RTEC, Star Diamond's technical team will focus on the technical investigation and evaluation of the Star – Orion South Diamond Project, with the goal of a future development decision. The initial work aims to prepare a revised Mineral Resource estimate for the Star – Orion South Diamond Project, which will form the foundation of an updated Prefeasibility study(" PFS"). The PFS will enable a Feasibility Study, on which a production decision can be based.

Buffalo Hills mineral properties
Management continues to review the recent results from the diamond valuation and typing analysis. A more detailed update on activities at the Buffalo Hills JV will be provided as it becomes available.

About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the trading symbol "DIAM". Star Diamond currently holds, through a joint venture arrangement with RTEC, a 25% interest in the Project. The Project is located in central Saskatchewan , in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Company also holds a 50% interest in the exploration and evaluation properties and assets of the Buffalo Hills JV located in north-central Alberta, Canada . Canterra holds the remaining 50% interest and is the operator of the Buffalo Hills JV.

Technical Information
All technical information in this press release has been prepared under the supervision of George Read , Senior Vice President Corporate Development, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia and Mark Shimell , Vice President Exploration, Professional Geoscientist in the Provinces of Saskatchewan and Alberta , who are the Company's "Qualified Persons" under the definition of NI 43-101.

Stay Connected with Us:
Twitter: https://twitter.com/StarDiamondCorp
LinkedIn: https://www.linkedin.com/company/star-diamond-corp
Facebook: https://www.facebook.com/people/Star-Diamond-Corp/100058096376664/
Instagram: https://www.instagram.com/stardiamondcorp/

Caution Regarding Forward-looking Statements

This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. All statements, other than statements of historical fact, are forward-looking statements.

These forward-looking statements are based on Star Diamond's current beliefs as well as assumptions made by and information currently available to Star Diamond and involve inherent risks and uncertainties, both general and specific. Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, statements regarding Rio Tinto Canada, the Company's ability to obtain financing to further the exploration, evaluation and/or development of exploration and evaluation properties in which the Company holds interest, the economic feasibility of any future development projects, developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Star Diamond's most recently filed Annual Information Form, and annual and interim MDA.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.

Forward-looking statements in this news release are made as of the date hereof and Star Diamond assumes no obligation to update any forward-looking statements, except as required by applicable laws.

SOURCE Star Diamond Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/25/c1142.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Q1 2024 Production Figures

	2024 Q1	2023 Q1	YoY Variance
Total tonnes mined (ore and waste)	7,885,445	8,935,015	-12 %
Ore tonnes mined	1,946,856	427,925	355 %
Ore tonnes treated	805,557	766,786	5 %
Carats recovered	1,264,887	1,319,603	-4 %
Carats recovered (49% share)	619,795	646,605	-4 %
Recovered grade (carats per tonne)	1.57	1.72	-9 %

	Q4 2023	Q4 2022	YoY Variance
Total tonnes mined (ore and waste)	9,831,021	10,144,844	-3 %
Ore tonnes mined	1,895,492	705,924	169 %
Ore tonnes treated	855,319	828,644	3 %
Diamonds recovered	1,572,696	1,621,800	-3 %
Carats recovered (49% share)	770,621	794,682	-3 %
Recovered grade (carats per tonne)	1.84	1.96	-6 %

	FY 2023	FY 2022	YoY Variance
Total tonnes mined (ore and waste)	37,147,350	33,947,188	9 %
Ore tonnes mined	3,807,102	4,113,648	-7 %
Ore tonnes treated	3,249,963	3,102,219	5 %
Diamonds recovered	5,557,655	5,519,309	1 %
Carats recovered (49% share)	2,723,251	2,704,461	1 %
Recovered grade (carats per tonne)	1.71	1.78	-4 %

		Three months ended	Three months ended	Year ended	Year ended
		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

GK operating data
Mining
*Ore tonnes mined	kilo tonnes	1,895	706	3,807	4,114
*Waste tonnes mined	kilo tonnes	7,936	9,439	33,340	29,833
*Total tonnes mined	kilo tonnes	9,831	10,145	37,147	33,947
*Ore in stockpile	kilo tonnes	2,316	1,759	2,316	1,759

Processing
*Ore tonnes processed	kilo tonnes	855	828	3,250	3,102
*Average plant throughput	tonnes per day	9,293	9,303	8,904	8,593
*Average diamond recovery	carats per tonne	1.84	1.96	1.71	1.78
*Diamonds recovered	000's carats	1,573	1,621	5,558	5,519
Approximate diamonds recovered - Mountain Province	000's carats	771	794	2,723	2,704
Cash costs of production per tonne of ore, net of capitalized stripping **	$	51	101	82	89
Cash costs of production per tonne of ore, including capitalized stripping**	$	93	160	129	122
Cash costs of production per carat recovered, net of capitalized stripping**	$	28	52	48	50
Cash costs of production per carat recovered, including capitalized stripping**	$	50	82	75	69

Sales
Approximate diamonds sold - Mountain Province***	000's carats	918	758	2,718	2,657
Average diamond sales price per carat	US	$ 64	$ 94	$ 90	$ 112

* at 100% interest in the GK Mine
**See Non-IFRS Measures section
***Includes the sales directly to De Beers for fancies and specials acquired by De Beers through the production split bidding process

		Three months ended	Three months ended	Year ended	Year ended
(in thousands of Canadian dollars, except where otherwise noted)		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Sales	$	79,778	96,315	328,630	388,853
Carats sold	000's carats	918	758	2,718	2,657
Average price per carat sold	$/carat	87	127	121	146
Cost of sales per carat*	$/carat	59	85	83	82
Earnings from mine operations per carat	$	28	42	38	64
Earnings from mine operations	%	32 %	33 %	31 %	44 %
Selling, general and administrative expenses	$	3,837	5,476	14,317	17,171
Operating (loss) income	$	(83,356)	25,257	(23,039)	141,027
Net (loss) income for the period	$	(75,792)	9,421	(43,671)	49,195
Basic (loss) earnings per share	$	(0.36)	0.04	(0.21)	0.23
Diluted (loss) earnings per share	$	(0.36)	0.04	(0.21)	0.23

	Three months ended	Three months ended	Year ended	Year ended
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Net (loss) income for the year	$ (75,792)	$ 9,421	$ (43,671)	$ 49,195
Add/deduct:
Non-cash depreciation and depletion	19,019	17,805	70,803	57,159
Impariment loss on property, plant and equipment	104,593	-	104,593	-
Net realizable value adjustment included in production costs	-	-	9,706	-
Share-based payment expense	228	496	1,363	1,923
Fair value gain of warrants	(1,842)	(391)	(4,816)	(6,242)
Finance expenses	12,672	19,861	41,918	47,812
Derivative (gains) losses	(12,013)	(2,627)	(11,790)	2,513
Deferred income taxes	(610)	5,520	1,980	21,200
Current income taxes	150	-	1,200	-
Unrealized foreign exchange (gains) losses	(6,638)	(25,882)	(6,237)	5,049
Adjusted earnings before interest, taxes, depreciation and depletion (Adjusted EBITDA)	$ 39,767	$ 24,203	$ 165,049	$ 178,609
Sales	79,778	96,315	328,630	388,853
Adjusted EBITDA margin	50 %	25 %	50 %	46 %

FORT À LA CORNE KIMBERLITES ORION NORTH KIMBERLITES: TECHNICAL UPDATE

Latest News

Latest Press Releases

Related News

TOP STOCKS