|Bid||0.0150 x 0|
|Ask||0.0200 x 0|
|Day's Range||0.0150 - 0.0200|
|52 Week Range||0.0150 - 0.4100|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 10, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.05|
LONGUEUIL, Quebec, Aug. 22, 2019 -- Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) announced today that the Toronto Stock Exchange (“TSX”) has.
The non-cash revenues of $148.7 million is comprised of $13.3 million of Stream amortisation and an increase in revenue of $135.4 million resulting from a reduction in contract liabilities related to the upfront proceeds received by the Corporation under the Amended Stream agreement in consideration for future commitments to deliver diamonds at contracted prices (Comparative Quarter - $13.5 million). Cash operating cost per carat recovered1 was $63.8, compared to $147.7 in the Comparative Quarter. Cash operating cost per tonne processed1 and per carat recovered1 decreased due to the ramp up of underground operations, the improved mix of ore sent to the process plant and cost reduction initiatives.
Second quarter diamond sales represent diamonds recovered during the first quarter. Second quarter diamond production was 463,136 carats recovered from the processing of 695,934 tonnes of ore at an average grade of 67 carats per hundred tonnes (“cpht”). Patrick Godin, President and CEO of Stornoway, commented “During the second quarter, both mining and processing operations at Renard have demonstrated strong performance, with an average ore hauling rate of 6,813 tonnes per day from the underground mine, and an average processing rate well above the budgeted rate.
LONGUEUIL, Quebec, June 11, 2019 -- Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) announced today that: Stornoway along with its material.
It is with regret that Mr. Hadjigeorgiou concluded that professional commitments prior to his appointment to the Board of Directors of the Corporation would not allow him to meet the extraordinary, short-term and unexpected investment of time required by each of the Corporation’s Board members given the challenges that the Corporation is currently facing. In this context, Mr. Hadjigeorgiou considered preferable to resign from the Corporation’s Board of Directors. It is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Québec.
LONGUEUIL, Québec, May 15, 2019 -- Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) announces the results of the vote at its annual general.
For the three months ended March 31, 2019, the Corporation reported a net loss of $48.4 million ($ (0.05) per share on a basic and fully diluted basis). Adjusted net loss1 for the first quarter was $51.0 million ($(0.05) per share basic and fully diluted). For the first quarter, the Corporation reported adjusted EBITDA1 of $13.4 million, or 25.2% of revenues, which includes an $8.9 million write-down of cash costs to bring inventory to its net realizable value.
The Renard Mine team won all awards: “Best BG4 Breathing Apparatus Mechanic”, “Best Theoretical and Technical Performance”, “Best First Aid Performance”, “Best Team Management” and “Best Team in the Field”. Patrick Sévigny, Stornoway’s Vice President, Operations, commented: “This second championship is a testament to the very high level of skill of all our Renard Mine rescuers. The Renard Diamond Mine is Quebec’s first producing diamond mine and Canada’s sixth.
Average annual diamond production is forecast at 1.8 million carats per annum over the first 10 years of mining. Readers are referred to the technical report dated January 11, 2016, in respect of the September 2015 Mineral Resource estimate, and the technical report dated March 30, 2016, in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate for further details and assumptions relating to the project. Stornoway is a leading Canadian diamond exploration and production company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal.
LONGUEUIL, Québec, April 17, 2019 -- Stornoway Diamond Corporation (TSX-SWY) (the “Corporation” or “Stornoway”) announces the appointment of Mr. Dino Rambidis as Chief.
The Corporation did not announce the closure of its Renard Mine, but only the temporary suspension of open pit mining operations at its Renard 65 ore body, one of the 3 ore bodies currently in operation at the Renard Mine, and the only ore body currently mined by open pit. The Renard underground mine, which extracts kimberlite from the Renard 2 and Renard 3 kimberlite pipes, provides approximately 93% of the mine's total production.
In terms of total carats sold, pricing and gross proceeds, this represents increases of 38%, 8% and 47% over the fourth quarter of 2018, respectively. First quarter diamond sales represent diamonds recovered during the fourth quarter of 2018. First quarter diamond production was 444,562 carats recovered from the processing of 582,613 tonnes of ore at an average grade of 76 cpht.
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For the year ended December 31, 2018, Stornoway reported Net loss $329.4 million ($ (0.39) per share on a basic and fully diluted basis), compared to Net loss of $114.2 million in 2017 ($ (0.14) per share basic and fully diluted). Included in 2018 results is (i) a non‐cash impairment charge of $83.2 million, (ii) a deferred income tax expense of $77.4 million and (iii) costs of goods sold of $227.1 million, $58.1 million of which is a write-down on inventory to bring it to its net realizable value, all reflecting lower diamond price environment than was originally forecasted by the Corporation. Adjusted Net Loss1 for the fourth quarter was $ 28.6 million and $ 133.8 million for the year.
LONGUEUIL, Quebec, March 19, 2019 -- Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) expects to release its Fourth Quarter and year end 2018 results.
Investors are always looking for growth in small-cap stocks like Stornoway Diamond Corporation (TSE:SWY), with a market cap of CA$175m. However, an important fact which most ignore is: how financiallyRead More...
With more than 25 years of experience in the mining sector, Mr. Sévigny holds a Bachelor’s degree in mining engineering. In this role, Mr. Sévigny has been a key contributor and leader in the start-up of both open-pit and underground operations.
Mr. Lacroix has over thirty years of experience in business and law and has a great expertise in corporate governance. Mr. Lacroix served as President and Chief Executive Officer of CBC/Radio-Canada from January 2008 to June 2018, as Special Counsel at Stikeman Elliott from 2005 to 2008, and as Executive Chairman at Telemedia and other companies of its group from 2000 to 2005.
Fourth quarter diamond sales represent diamonds mainly recovered during the third quarter. FY2018 diamond production of 1.32 mcarats recovered from the processing of 2.33 mtonnes of ore at an attributable grade of 57 cpht. FY2018 run-of-mine diamond sales of 1.04 mcarats sold in nine tenders for gross proceeds1 of $141 million, at an average price of US$105 per carat ($136 per carat3).
A $10 million private placement (the “Private Placement”) with Ressources Québec inc. (“RQ”), acting as agent for the Government of Québec, was completed on December 7, 2018. RQ subscribed for 28,571,428 units at a price of $0.35 per unit, each unit comprising one common share of the Corporation (a “Common Share”) and one-half of a common share purchase warrant (each whole common share purchase warrant, a “Warrant”).
Mr. Godin is currently the Corporation’s Chief Operating Officer, and has served in this role since 2010. Ebe Sherkus, the chairman of the Stornoway Board of Directors, commented: “We would like to thank Matt for his service to Stornoway.