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Jericho Diamond Project Permitting Update |
05/21/2003 |
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Download this Press Release
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May 21, 2003
Tahera Corporation has been notified that the Final Public Hearings for consideration of its Jericho Diamond Project Environmental Impact Statement (EIS), originally scheduled for the last week of May 2003, will be rescheduled.
The Final Public Hearings are being coordinated by the Nunavut Impact Review Board (NIRB), as determined by the Nunavut Land Claims Agreement. The hearings provide a forum for regulators and all other interested parties to discuss the Jericho Diamond Project EIS.
Since considerable time, resources, and expenditures are involved in the public review process, the NIRB has determined that the hearings should be rescheduled to ensure that all of the relevant environmental and socio-economic data and information are available to it before the NIRB executes its decision-making obligations regarding the Jericho Diamond Project.
Tahera is optimistic that its original timeline of receiving regulatory approval for development of the Jericho Diamond Project will not be affected by rescheduling the hearings.
Tahera’s goal is to receive regulatory approval for development of the Project during 2003. Additional information regarding the public hearings will be announced in due course.
Jericho Diamond Project
The Jericho Diamond Project feasibility study (SRK Consulting (2000), Michael J. Michaud, qualified person) indicates robust economics for a diamond mining operation centered on the land-based Jericho kimberlite. The study shows that the Project will produce 3 million carats over a minimum mine life of eight years. An updated feasibility study is scheduled for completion in June 2003.
About Tahera Corporation
Tahera Corporation (www.tahera.com) is a unique Canadian diamond Company in that it has a positive feasibility study completed on an advanced-stage diamond project. Tahera is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton, including the Rockinghorse Property joint venture, where the significantly diamondiferous Anuri kimberlite occurs. The common shares of the Company trade on the Toronto Stock Exchange under the symbol 'TAH'.
For further information:
Tahera Corporation
Grant Ewing - Vice President, Investor Relations & Corporate Development
Tel: (416) 777-1998 Fax: (416) 777-1898 Toll free: (877) 777-2004
Email: investor_relations@tahera.com
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