Shore Gold waiting on financial partner
Shore Gold has spent the last decade working to prove the diamond mine is feasible, but the exploration company has a long road ahead before the precious stones will be profitable.
“I think people who have been big believers in this are just wishing this would come to pass,” said Paul Martin, a business analyst in Saskatchewan.
Only one in 6,000 diamond exploration projects are proven to work and the Star-Orion South diamond project, in the Fort a la Corne forest near Prince Albert, is one of them, said a spokesperson for Shore Gold.
“To date, some $330 million have been spent to bring us to the point where we know that there is a viable diamond mine in Saskatchewan,” said George Read, senior vice-president exploration and development.