– CANADA, Longueuil – Stornoway Diamond Corporation (TSX:SWY), announces that, effective January 1, 2019, Matt Manson will step down as President and CEO of the Corporation and will be succeeded by Patrick Godin. Mr. Godin is currently the Corporation’s Chief Operating Officer, and has served in this role since 2010. So as to achieve an orderly transition in 2019, Mr. Manson will provide support to Mr. Godin as he assumes his new role.
Ebe Sherkus, the chairman of the Stornoway Board of Directors, commented: “We would like to thank Matt for his service to Stornoway. Starting in 2005, Matt has been the driving force behind the successful acquisition, financing and development of the Renard Diamond Mine. His determination and energy have been the key ingredients in the Corporation’s transition from junior explorer to mine developer and operator. He will be ably succeeded by Pat who, as COO and a director of the Corporation, has been responsible for the construction and development of both the open pit and underground mining operations at Renard and developing the Corporation’s positive relationships with employees, regulators, communities and stakeholders.”
Matt Manson commented: “Our ramp-up to design capacity at the Renard Mine has now been achieved, and carat production is growing. Our product is well established in the international diamond market, and the recently completed financing transactions have strengthened the Corporation’s balance sheet. Our priority going forward will be realizing the full operating and cash flow potential of the business over the long term. I am confident Pat has the leadership skills required to achieve this task, and I look forward to supporting him in his new duties as President and CEO.”
Patrick Godin commented: “I am pleased to be assuming the leadership of Stornoway through this next stage of its development. Working with our committed employees, partners and shareholders, our near term-term focus will be on delivering further performance improvements, adding to our reserve base, and maximizing free cash flow generation, while being on the lookout for value-creating growth opportunities over the longer-term.”
About Patrick Godin
Patrick Godin joined Stornoway as Chief Operating Officer in May 2010 and was appointed to the Board of Directors in October 2011. Since Pat joined Stornoway, he has had overall responsibility for the development of the Renard Diamond Project through its feasibility study, permitting, construction and operation. Prior to joining Stornoway, Pat acted as Vice-President, Project Development for GMining Services, and was responsible for the development of the Essakane Mine in Burkina Faso under contract to IAMGOLD. He was previously Vice-President of Operations for Canadian Royalties, specifically heading the development of their nickel project in northern Québec. He was also President and General Manager of CBJ-CAIMAN S.A.S., a French subsidiary of Cambior/IAMGOLD, holder of the Camp Caïman gold mining project located in French Guiana.
About The Renard Diamond Mine
The Renard Diamond Mine is Quebec’s first producing diamond mine and Canada’s sixth. It is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Québec. Construction on the project commenced on July 10, 2014, and commercial production was declared on January 1, 2017. Average annual diamond production is forecast at 1.8 million carats per annum over the first 10 years of mining. Readers are referred to the technical report dated January 11, 2016, in respect of the September 2015 Mineral Resource estimate, and the technical report dated March 30, 2016, in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate for further details and assumptions relating to the project.
About Stornoway Diamond Corporation
Stornoway is a Canadian diamond exploration and production company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. A growth oriented company, Stornoway owns a 100% interest in the world-class Renard Mine, Québec’s first diamond mine.
For more information : http://www.stornowaydiamonds.com
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
