Shore Gold’s future slow, but favourable
Shore Gold recently released their year-end financial and operating results and their Star-Orion South Diamond Project is still seeking third-party investors.
For the past few years the company has been pursuing options for financing of the Project development at the Fort a la Corne mining site east of Prince Albert and in 2012 they thought they had it.
“In early 2012 one of these financing options reached an advanced stage of negotiation but was not concluded due to world economic uncertainties,” Shore Gold Inc. wrote in a news release.
Since then they’ve had to look at other options of conserving money until investors can be found.
“In light of this development, the management and directors of Shore deemed it necessary to make changes to meet corporate priorities. These measure included reductions in Company Directors, Officers and personnel as well postponement of all arrangements with SaskPower,” the release stated.