Stornoway Diamond Corporation(TSX:SWY) announced receiving results of its Renard project powerline feasibilty study. The study was conducted by Hydro-Québec. Stornowaqy does not plan to proceed with the powerline proposal at this time.
As quoted in the press release:
The Hydro-Québec powerline has been designed to support multiple users, including potential mine development projects located to the south of Renard. Hydro-Québec will require that Stornoway finance the powerline’s cost upfront, and have proposed a capital rebate should these other projects be connected in the future. On this basis, Stornoway estimates that the powerline as currently configured will yield only a marginal net economic benefit to the Renard Project over the initial 11 years of Mineral Reserve-based mine life, but will produce a more positive economic return over the longer mine life that would be achieved should the project’s total Mineral Resource be developed.