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Sale of Bulk Sample Processing Facility |
11/12/1999 |
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Tahera Corporation ("Tahera") has entered into an agreement to sell its bulk sample processing facility, located at the Lupin Mine Site, to Winspear Resources Ltd. for C$2.3 million cash payable at closing. The purchase, which is subject to due diligence to confirm the seller’s title, is expected to close no later than November 19, 1999.
Tahera is encouraged by the feasibility work performed to date on the Jericho Diamond Project and is now planning, subject to the completion of the feasibility study and receiving regulatory approvals, the construction of a full scale diamond processing plant to treat material from the proposed Jericho Diamond Mine.
The full-scale plant will be partially located in the building at the Lupin Mine Site that is currently occupied by the bulk sample processing facility, subject to appropriate arrangements between Tahera and Echo Bay in the course of the implementation of the October 1996 Facilities Use Agreement. The proposed full-scale diamond processing plant will also enable Tahera to treat bulk sample material from future kimberlite discoveries.
For further information, please contact:
Grant Ewing
Vice President Investor Relations and Corporate Development
Email: investor@tahera.com
Web site www.tahera.com
Tel: (416) 777-1998
Fax: (416) 777-1898
Toll Free: (877) 777-2004
Tahera Corporation (TAH:TSE) is engaged primarily in the exploration for and development of diamond deposits in Canada's Northwest Territories and Nunavut
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