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Stornoway to Restart Operations at Renard
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Stornoway Diamond Corporation plans to resume operations at its Renard mine in Canada this month after half a year of inactivity, according to a minority shareholder.The miner, which was acquired by its lenders last year following heavy losses...
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Mining
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Sep 15, 2020
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Rapaport News
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Stornoway Shakes Up Top Management
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Patrick Sévigny will take over management of Stornoway Diamonds following the exit of CEO Patrick Godin amid the company’s efforts to streamline its executive team.Sévigny will lead the company as chief operating officer, Stornoway...
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Mining
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Jun 28, 2020
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Rapaport News
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Rough Market Faces Its Toughest Year Yet
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As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium...
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Rough Markets
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Apr 28, 2020
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Avi Krawitz
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Stornoway to Lose Stock-Exchange Listing
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The Toronto Stock Exchange is set to delist StornowayDiamond Corporation following the miner’s move to seek creditorprotection. The company received notice from the bourse that it would be removed from the exchange at close of business on October...
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Mining
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Sep 22, 2019
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Rapaport News
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Lenders to Acquire Stornoway
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Stornoway Diamond Corporation’s major lenders have agreed to take over the company amid mounting debts that prompted the miner to file for protection from creditors.The owner of the Renard mine in Quebec is seeking torestructure...
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Mining
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Sep 10, 2019
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Rapaport News
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Possible Stock Delisting Adds to Stornoway Woes
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Stornoway Diamond Corporation has until December 20 to comply with Toronto Stock Exchange (TSX) requirements or face a delisting of its common shares. “There can be no assurance that the corporation willsuccessfully regain compliance with the TSX...
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Mining
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Aug 25, 2019
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Rapaport News
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Stornoway Diamond Fears for Its Future
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Stornoway Diamond Corporation has given a stern warningabout its ability to remain in business, after failing to find a buyer for the company. The miner had until July 15 to find an investor for its Renard operation as part...
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Mining
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Aug 15, 2019
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Rapaport News
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Stornoway Prices Continue to Fall
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Rough prices slumped for Stornoway Diamond Corporation inthe second quarter, as market weakness dented demand for the miner’s range ofgoods. The average price of the company’s sales slid 18% to $76 percarat in the...
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Mining
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Jul 11, 2019
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Rapaport News
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Struggling Stornoway Seeks Buyer for Renard
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Stornoway Diamond Corporation is looking for investors to help salvage its Renard mine as the company continues to incur high financial losses. The miner called for offers to purchase its Canada operations after receiving $11.7...
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Mining
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Jun 11, 2019
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Rapaport News
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Stornoway Loss Deepens Amid Slow Market
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Stornoway Diamond Corporation fell deeper into the red inthe first quarter, as rough prices softened, it saidMonday. The miner recorded a net loss of CAD 48.4 million ($36million) for the three months ending March...
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Mining
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May 14, 2019
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Rapaport News
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Stornoway Appoints New Finance Chief
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Dino Rambidis will replace Orin Baranowsky as chieffinancial officer of Stornoway Diamond Corporation.“Dino…is a seasoned leader with extensive financialexperience, and is a valuable addition to our leadership team,” Stornoway CEOPatrick Godin said last week. Rambidis will...
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Mining
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Apr 22, 2019
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Rapaport News
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Stornoway to Suspend Open-Pit Operations
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Stornoway Diamonds will halt open-pit mining atits Renard deposit in an effort to cut costs. The Canada-based miner temporarily suspended activities and shut down aportion of its equipment starting this month, it said last week....
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Mining
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Apr 14, 2019
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Rapaport News
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Stornoway Loss Deepens Amid Renard Delays
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Stornoway Diamond Corporation increased its net loss in2018 after experiencing delays in the transition to underground mining at its Renard project in Canada. The deficit widened to CAD 329.4 million ($246.8 million),compared with a loss of CAD...
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Mining
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Mar 31, 2019
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Rapaport News
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Stornoway Appoints Head of Operations
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Stornoway Diamond Corporation has promoted Patrick Sévigny tovice president of operations with immediate effect, the company said Monday. Sévigny has been with the Canada-based miner since 2015 asmanager of mining operations at its...
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Mining
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Jan 30, 2019
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Rapaport News
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Weakness in Low-Value Stones Hits Stornoway
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Stornoway Diamond Corporation’s sales fell in the finalthree months of last year as weakness in the Indian market dented prices oflower-value rough from its Renard mine in Canada. Fourth-quarter proceeds dropped 35% to CAD 32.1 million($24.2...
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Mining
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Jan 20, 2019
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Rapaport News
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Stornoway Names Patrick Godin as CEO
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Stornoway Diamond Corporation has appointed a new CEO after reporting its third successive quarterly loss. Patrick Godin, Stornoway’s chief operating officer, willsucceed Matt Manson on January 1, the company said Wednesday. Stornoway recorded...
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Mining
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Nov 15, 2018
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Rapaport News
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Stornoway Notes Poor Small-Stone Market
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Stornoway Diamond Corporation’s average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging...
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Mining
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Oct 14, 2018
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Rapaport News
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Stornoway Completes Renard Underground Mine
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The Renard underground mine in Canada is running at full capacity,after a slower-than-expected transition from open-pit operations in the firsthalf of the year, Stornoway Diamond Corporation said Tuesday.The miner is producing 6,039 tonnes of ore per day from...
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Mining
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Sep 05, 2018
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Rapaport News
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Stornoway Reports Loss Amid Renard Delays
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Stornoway Diamond Corporation went into the red in thesecond quarter as delays at its Renard mine resulted in lower-quality productionthan it had anticipated. The miner recorded a net loss of $27.4 million (CAD 35.9million) for the three...
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Mining
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Aug 15, 2018
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Rapaport News
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Renard Output and Sales Fall in 2Q
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Stornoway Diamond Corporation saw production and sales dropin the second quarter amid a slowdown while the company transitions from open-pitto underground mining. The miner produced 223,351 carats from its Renard mine...
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Mining
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Jul 08, 2018
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Rapaport News
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