In an alliance with International Mining and Dredging Holdings, the Canadian miner ran a bulk sampling program whose results "were extremely encouraging."
The company's new strategy includes a pre-feasibility study that envisions a high-grade underground mine and puts on hold development plans for the project’s larger open-pit deposit.
With global diamond demand forecast to grow at approx 3.5% annually over next five years, a supply gap down the line seems inevitable if forecasts hold.
Russia's gold-trading banks trying to increase presence in Asian markets, especially since demand for Russian gold in European trading hubs slow since 2014.