New Diamond Plays Message Board

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Gold/Mining/Energy : New Diamond Plays

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From: average joe	10/22/2013 1:20:40 AM
	of 25

The Deal... But the Queen of Diamonds is also back on the diamond hunt in a different TSX Venture vehicle with her prospecting father. In a little-reported deal announced March 14, Stornoway has optioned an 80% interest in three non-core exploration properties – Qilalugaq, Pikoo and Timiskaming – to a numbered company controlled by Eira Thomas (Stornoway can earn back in up to a 40% interest in each project). The projects are located in Nunavut, northern Saskatchewan and on the Ontario/Quebec border. Eira, in turn, is assigning the three option agreements to North Arrow Minerals (NAR) for $20,000 and 500,000 transferrable share purchase warrants. North Arrow is a Gren Thomas-helmed junior with gold and diamond exploration projects in the Canadian North (including a Lac de Gras joint venture with Dominion Diamond within 10 kilometres from Diavik). North Arrow just did a 10-for-1 share consolidation and is trading at 22 cents for 7.4 million shares, giving it a market cap of about $1.6 million. Gren Thomas owns 42% of shares. worldofmining.com

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