Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwire – Oct. 6, 2011) – Shear Diamonds Ltd. (TSX VENTURE:SRM) today announces the recovery of the first 200 carats of diamonds from trial tests performed in the recently restarted recovery portion of Shear’s 100% owned Jericho Diamond Mine, Nunavut. In addition Shear has completed a new geological interpretation and 3- D Model for the Jericho Kimberlite Complex.
“The recoveries are an important part of proving Jericho’s real potential, and speaks to the lost grade from past operations. We are excited to see that the diamond recoveries from the recovery rejects tailings pile are in line with audits done by both Tahera and Shear (refer to press release dated Februrary 8, 2011)” says Julie Lassonde, CEO and Chair of Shear. “Diamond recoveries continue during our plant trial, which has seen periodic stoppages to address the inevitable issues which arise in recommissioning a circuit that has been dormant for the past three years. Shear’s ultimate goal is to generate cash flow from diamond sales in the coming months and continuing through all of 2012.”
