Star Diamond Rio Tinto Agreement

Justice Grant Currie said the Saskatoon-based company may find it difficult to prove that Rio Tinto Exploration Canada (RTEC) unfairly exercised its options for a majority stake in the diamond mine project. Based on the recent economic study on the project, Star-Orion has the potential to produce 66 million carats over a 34-year lifespan. It would be the first diamond mine in operation in the province. Star Diamond Corp., which owns the exploration rights to diamond kimberlite on the Horn field, says an internal study shows that mining and mass sampling methods at mining giant Rio Tinto are unproven and harm diamonds while resulting in significant cost overruns. In 2018, the company announced the positive results of the AEP on the project. The AEP estimates that 66 million carats of diamonds in a surface mine over a 38-year lifespan with a net present value (7%) The USSR commission has been rebalanced. $2.0 billion after tax, an internal return of 19% and an after-tax amortization period of 3.4 years after the start of diamond production (see press release of April 16, 2018). In a press release released Thursday, Star Diamond said the study showed in part that rio Tinto`s processes for diamond recovery and mass sampling « caused undue ruptures, resulting in significant unnecessary cost overruns and significantly damaged Star Diamond`s interest in the [project]. » For more information: [email protected] or (306) 664-2202; www.stardiamondcorp.com In the press release, Ken MacNeill, President and CEO of Star Diamond, called Rio Tinto`s methods « ineffective … in the extraction of larger diamonds and less broken diamond, and said Rio Tinto had predicted more than $100 million for its bulk sampling program « … but did a little more than replicate the historical results of the diamond-grade of Star Diamond`s own underground mass grab… [implementation] at a fraction of the costs between 2004 and 2009. Located east of Prince Albert, Saskatchewan`s third largest city, the Star-Orion is a large, substandard project containing high-quality diamonds (high-quality diamonds and rare Type IIa stones). Therefore, RTEC is prohibited from calling and/or arranging a management committee meeting as part of the joint enterprise agreement for a period of 120 days after the completion of the processing, the recovery of the diamonds and the disclosure of all the results obtained from the samples taken from the 10 milling holes completed in 2019.