Canada

Renard Mine

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Categories

Overview

Mine TypeOpen Pit & Underground
StatusCare and Maintenance
Commodities
  • Diamond
Mining Method
  • Truck & Shovel / Loader
  • Blast Hole Stoping
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Mine Life... Lock
SnapshotStornoway has not published 2019 and 2020 annual reports by the time it was delisted from TSX in September 2019.

On October 27, 2023, Stornoway announced the suspension of operations at its Renard mine. Renard mine has been placed in a "Care and Maintenance" phase to preserve the assets and facilitate a rapid return to normal operations.

Stornoway has also begun the process of placing itself under the protection of the Companies' Creditors Arrangement Act to enable it to restructure its business and turn around its financial situation. The appointment of Deloitte Restructuring inc. is also being sought from the Court to act as Monitor and supervise the restructuring process.

The Company is implementing a process for soliciting investment and sale proposals under the Companies' Creditors Arrangement Act.

Owners

SourceSource
CompanyInterestOwnership
Stornoway Diamonds Corp. 100 % Indirect
Stornoway Diamonds Corp. has a 100% interest in the Renard Diamond Mine through its wholly owned subsidiary, Stornoway Diamonds (Canada) Inc. (SDCI).

Since Stornoway went bankrupt, Deloitte was appointed as trustee. Stornoway got delisted from TSX (since September 2019).

Deposit type

  • Kimberlite

Summary:

The Renard kimberlites were emplaced into granitic and gneissic host rocks, and contain diamonds of economic interest. The bodies comprise a late Neo-Proterozoic to Cambrian kimberlite field in Québec (Girard, 2001; Moorhead et al., 2002; Letendre et al., 2003).

To date, nine kimberlite pipes have been identified over a 2 km2 area in the Renard Cluster (Renard 1 to Renard 10; with Renard 5 and Renard 6 forming one body, referred to as Renard 65). The kimberlite pipes are typically spaced between 50 m and 500 m from each other. Geophysical data and drill information from delineation and bulk sampling programs indicate that, in general, most of the Renard kimberlites are irregular and elliptical in plan view. Surface areas of the kimberlite portion of the pipes range from 0.1 ha to 2.0 ha. Two laterally extensive kimberlite dyke systems, known as the Lynx and Hibou dykes, have been identified to the west and northwest of the pipe cluster, respectively (Figure 7.3). Portions of both dykes are included in the mineral resource estimation. Additional dyke like kimberlites have been discovered elsewhere on the property. These are not included in the mineral resource estimation but may warrant additional work at a later date.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityUnits2019201820172016LOM (Projected)
Diamond k carats 1,950 ^1,3241,64344922,264
All production numbers are expressed as mineral. ^ Guidance / Forecast.

Operational metrics

Metrics202120202019201820172016
Tonnes processed  ....  Subscribe  ....  Subscribe2,556,459 t2,328,300 t1,956,436 t399,162 t
Ore tonnes mined  ....  Subscribe  ....  Subscribe2,115,522 t2,228,273 t2,074,827 t
Daily milling capacity  ....  Subscribe  ....  Subscribe6,000 t6,000 t
Total tonnes mined  ....  Subscribe  ....  Subscribe4,475,854 t7,840,130 t
Plant annual capacity  ....  Subscribe  ....  Subscribe2.16 Mt

Production Costs

CommodityUnits20182017
Cash costs Diamond CAD 100.4 / carat   53.6 / carat  

Operating Costs

Currency20182017
Total operating costs ($/t milled) CAD 57.1  45  

Financials

Units201920182017
Capital expenditures (planned) M CAD 75  
Capital expenditures M CAD 88.2   126.9  
Revenue M CAD 165.5   196.5  
Gross profit M CAD -61.7   47.3  
Pre-tax Income M CAD -258.1   -143.3  
EBITDA M CAD -7.9   85  
Operating Cash Flow M CAD 7   65.9  

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 28, 2023

Aerial view:

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