Tahera announces suspension of diamond mining at Jericho

Tahera Diamond Corp 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 re-structuring plan. Following the suspension of mining activities, ore processing and diamond recovery are planned to continue for about 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 maximise high-grade ore stockpiles. Nuna Logistics has agreed to provide site services, as required, once mining operations have been suspended and while ore processing continues. The company has been experiencing financial difficulties for some time, mainly due to the mine not performing as designed. Taheera says it will assess all options during this period with a goal of continuing operations at┬áJericho mine.