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Stornoway Diamond Corporation (SWY.V)
An SI Board Since July 2003
Posts SubjectMarks Bans Symbol
74 12 0 SWY.V
Emcee:  TheSlowLane Type:  Unmoderated
Stornoway Diamond Corporation (SWY.V) is a world class diamond exploration company. The company was formed as a result of a merger between Northern Empire Minerals and Stornoway Ventures LTD.
Northern Empire and Stornoway Announce Completion of Combination: Creation of World Class Diamond Exploration Company; New Company to Control Over 11 Million Acres of Diamond Properties

Northern Empire Minerals Ltd. (NEM) and Stornoway Ventures Ltd. (SWV) announce today that they have completed the combination of their respective businesses originally announced on May 20, 2003. This transaction involved the acquisition of Stornoway by Northern Empire and has the effect of consolidating Northern Empire's and Stornoway's respective 35% interests in the Aviat Project, located on the Melville Peninsula in Nunavut and host to the diamondiferous AV-1 kimberlite. Northern Empire now holds a 70% interest in Aviat, giving Northern Empire greater control over the exploration and development of the 7 million acre Aviat property.

Northern Empire also maintains a 35% interest in the Churchill diamond project, totaling more than 1.5 million acres located near the community of Rankin Inlet, Nunavut. Recent drill testing of priority geophysical targets identified at Churchill in 2002 has resulted in the discovery of nine new kimberlite-like bodies. Many high priority geophysical targets remain to be drill tested as part of an ongoing summer exploration program that also includes geophysics, prospecting and sampling.

Other diamond interests held within prospective diamond regions throughout Canada include the Coronation (North Slave) properties in Nunavut as well as the Otish Mountain property in Quebec Northern Empire's diamond properties now encompass over 11 million acres, making its landholdings one of the largest in Canada.

Eira Thomas, the CEO of Stornoway has been appointed the CEO and President of Northern Empire and will be responsible for the operational activities and development of the exploration assets of the company. Ms. Thomas is well known for her previous involvement in the discovery of the Diavik deposit, Canada's newest producing diamond mine.

John Robins, former President of Northern Empire and Catherine McLeod-Seltzer, President of Stornoway have been appointed Co-Chairs of Northern Empire. Bruce McLeod has been appointed Chief Operating Officer.

The Board of Directors of Northern Empire has been re-constituted and consists of John Robins, Catherine McLeod-Seltzer, Eira Thomas, Bruce McLeod and Peter Nixon.

As a consequence of closing the transaction each Stornoway shareholder prior to closing now holds 0.8734 of a common share of Northern Empire for each common share of Stornoway previously held. Northern Empire owns 100% of the outstanding shares of Stornoway, which shares have been halted and will be delisted from the TSX Venture Exchange.

Shareholders approved a name change at the recent Extraordinary General Meeting. The Company's name will be changed to Stornoway Diamond Corporation and will trade under the symbol SWY on the TSX Venture Exchange effective July 22, 2003.


This thread was created to succeed the NEM thread:

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74Deloitte Restructuring Inc. is to be hired to oversee the process under the CompInternship-9/20/2019
73Hello.......anyone watching this recently? Small pop in the price. Road approvalwayne cath-1/16/2013
72Stornoway (SWY.TO) Completes Renard 65 Bulk Sample Field Program MONTREAL, Rob J23-11/21/2012
71Stornoway Announces New Agreement To Complete Route 167 Extension QuébeRob J23-11/15/2012
70Stornoway Announces the Successful Completion of the Final Public Hearings for RRob J23-8/30/2012
69Stornoway Signs Partnership Accord With Chibougamau and Chapais VANCOUVER, BRITRob J23-7/5/2012
68head Up on swyTheStag-9/28/2009
67SWY.TO forms joint venture in Botswana
66Raymond James picks it finance.lycos.comjrhana-12/18/2004
65SWY.V with a glimmer of life? I have no gems currently hope to rejrhana-12/1/2004
64OTOH I wish I had your base metal plays Oh well, you can't have it all (or jrhana-2/15/2004
63Nice find, thanks. Concur with your thoughts on this sector, my only concern isTheSlowLane-2/15/2004
62Clicking around I came across this portrait of our leader Brilliajrhana-2/15/2004
61I am not selling <g>jrhana-2/3/2004
60You have not seen nothing yet WAITRocket Red-2/3/2004
59They are already hot
58Diamond stocks will become super hot this spring lots of dollars going to be speRocket Red-2/3/2004
57SWY and SRm expand landholdings The stock is certjrhana-2/3/2004
56It is to forget the vastness of SWY's holdings encompassing several projectsjrhana-1/28/2004
55I would say by all means diversify I now own positions in 4 of the 5 top picks jrhana-1/23/2004
54I've been contemplating whether to add SWY or diversify with another diamondTheSlowLane-1/23/2004
53SWY is getting some play now Message 19713792 Hopefully some diamonds are comijrhana-1/23/2004
52I looked at that chart more than once last week...thinking...that one looks ripeTheSlowLane-12/8/2003
51I just doubled my position at 1.85-1.90 I believe Canadian diamonds are about tjrhana-12/8/2003
50I think they might really do it More news will be on the way: <Approximateljrhana-12/8/2003
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