Tahera sells bulk sample plant; Jericho plant planned
Tahera Corp TAH
Shares issued 159,300,000 Nov 11 close $0.055
Fri 12 Nov 99 News Release
Mr. Grant Ewing reports
Tahera has entered into an agreement to sell its bulk sample processing
facility, located at the Lupin mine site, to Winspear Resources Ltd. for
$2.3-million cash, payable at closing. The purchase, which is subject to
due diligence to confirm the seller's title, is expected to close no later
than Nov. 19, 1999.
Tahera is encouraged by the feasibility work performed to date on the
Jericho diamond project and is now planning, subject to the completion of
the feasibility study and receiving regulatory approvals, the construction
of a full-scale diamond processing plant to treat material from the
proposed Jericho diamond mine.
The full-scale plant will be partially located in the building at the Lupin
mine site that is currently occupied by the bulk sample processing
facility, subject to appropriate arrangements between Tahera and Echo Bay
in the course of the implementation of the October, 1996, facilities use
agreement. The proposed full-scale diamond processing plant will also
enable Tahera to treat bulk sample material from future kimberlite
discoveries.
Tahera is engaged in the exploration for and development of diamond
deposits in Canada's Northwest Territories and Nunavut. |
