TORONTO, Jan. 23 /PRNewswire-FirstCall/ -- Tahera Diamond Corporation ("Tahera" or the "Company") (TSX: TAH) announces today that it will suspend mining activities at the Jericho mine in approximately two weeks. The suspension of mining will preserve the Company's existing cash position and fuel inventory at the mine while it works on its previously announced re-structuring plan. Following the suspension of mining activities, ore processing and diamond recovery are planned to continue for approximately two months or until the high-grade ore stockpiles are exhausted. A concerted effort is being made with respect to mining over the next two weeks to maximize high-grade ore stockpiles. Nuna Logistics have agreed to provide site services, as required, once mining operations have been suspended and while ore processing continues.
The Company will assess all options during this period with a goal of continuing operations at its Jericho Mine.
FORWARD LOOKING STATEMENTS
Certain information regarding Tahera in this news release including management's assessment of future plans and operations and the timing thereof, may constitute forward-looking statements under applicable securities laws and may necessarily involve risks including, without limitation, risks associated with mineral exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity and diamond prices, currency fluctuations, imprecision of reserve and resource estimates, environmental risks, competition from other producers, inability to retain services, delays resulting from or inability to obtain required regulatory approvals, the ability to access sufficient capital and the uncertainty involved in Court proceedings and the implementation of a Plan under the CCAA. As a consequence, Tahera's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward looking statements will transpire or occur, or, if any of them do so, what benefits Tahera will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. Furthermore, the forward-looking statements contained in this news release are made as of the date this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Tahera Diamond Corporation
R. Peter Gillin - Chairman and CEO
