Dominion Completes Misery Main Production Trial

(IDEX Online News) – Dominion Diamond Corporation has announced the sorting results from its recent production trial of Misery Main ore feed, conducted in late May and early June.

The trial resulted in the recovery of approximately 130,000 carats, which have now been sorted and valued at an estimated market price of $72 per carat.

“We are extremely pleased with the results of the production trial at Misery Main, the highest value ore body on the Ekati property,” said Dominion CEO Brendan Bell.

“Confirmation of the average carat values for Misery Main, combined with additional confidence and definition on the development capital program, has confirmed the strength of our mid-term cash flow. Strong existing and future cash flows, coupled with the strength of our balance sheet and cash position, allows us to implement a capital allocation strategy that supports the growth of Dominion while also returning additional value directly to shareholders."

The company made further announcements including a board level decision to focus on development opportunities at Dominion’s core assets, including the Sable and Jay projects at Ekati and the A-21 diamond pipe at Diavik.