Background

At the 2009 PDAC convention this month, CEO and President Matt Manson of Stornoway Diamond Corp.commented that this current economic environment and resultantgovernment plans to increase spending is good for companies trying todevelop mines in the sense of available infrastructure. Mr. Manson wasin particular referring to Stornoway’s Renard diamondproject in the Otish Mountains of central Quebec. The pre-feasibilitystudy released last fall made the assumption that the current winterroad access available to the potential mine site would be upgraded toan all-season paved road by the time construction would commence. Thiswas discussed to in the earlier KIM Report article covering the findings of this study.

The News

Good news came last Monday, when announced inQuebec’s 2009-2010 budget was $698 million for the development of roadsin northern Quebec. Included in this allotment is money for the Route des Monts Otish(Route 167 Extension) that will extend from Chibougamau to the Renardsite intersecting several other (metals) projects along the way (Eastmain, Strateco, and Western Troy). Details of the road projec...

The entire article can be found at its original posting by following this link HERE