Dominion Diamond strikes deal to sell Ekati mine

Deal will allow the company to self-fund the Thorny River project from bulk sampling through to mine development.

EY’s Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 12 percent in the third quarter of the year when compared to the previous three-month period.

The property was originally explored as an iron-ore mine prospect but it ended up showing cobalt potential with positive assay results.

Diamcor Mining announced that following its previous release on the initial tender of 2,606.50 carats of rough diamonds, it delivered an additional 5,335.83 carats before the end of October.

The Westhaven surge is a reversal of fortune for Gren Thomas, who got his share position by bankrolling the company, keeping it afloat through years of struggle and shoestring budgets.

Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors.

The advanced-stage gold-copper project features a near surface deposit of high-grade gold and copper.

So far in 2018, Gem has found thirteen diamonds over 100 carats, two of which were found in the third quarter.

Epiroc and Kimberley Ekapa Mining are working together to digitize the latter’s diamond operations.