North Arrow Minerals Inc. (TSXV:NAR) entered into a letter of engagement with Dundee Securities Ltd., on behalf of a syndicate including Mackie Research Capital Corporation, where they have agreed to purchase 7,700,000 common shares of the Company at a price of $0.65 per share, for total gross proceeds of $5,005,000.
North Arrow Minerals Inc. (TSXV:NAR) confirmed an approved 2014 exploration program and budget of $3.7M for the Qilalugaq Diamond Project in Nunavut. The Company is funding the bulk sampling program as part of an option agreement with Stornoway Diamond Corporation (TSX:SWY). The purpose of the program is to recover a diamond parcel of approximately 500 carats to determine an initial value estimate for the diamonds in the Q1-4 kimberlite.
Stornoway Diamond Corporation (TSX:SWY) provided an update on its exploration joint venture projects, Pikoo and Qilalugaq. These projects are subject to option agreements with North Arrow Minerals Inc. (TSXV:NAR). Highlights include a drill program completed by North Arrow Minerals in 2013, with the most significant discovery being kimberlite PK150, interpreted to be a 10 to 15 m wide, near vertical body, intersected over a 75 m strike length and open to depth and along strike. The Qilalugaq work program is expected to commence in July 2014, with an estimated budget of $3.7 million, to be fully funded by North Arrow Minerals.
North Arrow Minerals Inc. (TSXV:NAR) President and CEO, Ken Armstrong discussed key developments and its diamond prospects with Pat Beechinor, host of Junior Mining Network Radio.
Diamcor Mining Inc. (TSXV:DMI) filed its Financial Statements and MD&A for the interim period ended September 30, 2013 on SEDAR.
Stornoway Diamond Corporation (TSX:SWY) hosted a press event in Montreal to highlight the partnerships between the Company, Québec, and the communities of the James Bay region on the development of the Route 167 Extension-Renard Mine Road and the new Monts Otish regional aerodrome.
Stornoway Diamond Corporation (TSX:SWY) entered into an unsecured non-revolving bridge credit facility of up to $20 million for its Rendard Diamond Project, with Ressources Québec. Ressources Québec is a subsidiary of Investissement Québec, Stornoway’s largest shareholder, through its indirect wholly-owned subsidiary Diaquem Inc.
Diamcor Mining Inc. (TSXV:DMI) recovered the first gem quality “special” diamond in the +10.8 carat category from its Krone-Endora at Venetia Project. The diamond’s near perfect octahedron shape is extremely rare and not typically seen in diamonds of this size.
Fundamental Research Corp. recently featured Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) and how the Company’s third sale of rough diamonds fetched an average price of US $180/carat.
North Arrow Minerals Inc. (TSXV:NAR) intends to complete a non-brokered private placement of up to 7,000,000 shares, for total gross proceeds of $3,500,000, at a price of $0.50 per share. The Company also intends to complete a non-brokered private placement of up to 3,000,000 flow-through shares, for gross proceeds of $1,800,000, at a price of $0.60 per share.