Tahera completes Jericho construction

It’s finished, and it’s up and running.

The Tahera Diamond Corp. announced this week that they’ve finished construction of the Kitikmeot’s Jericho diamond mine, and that their plant will process 2,000 tonnes of ore a day by the end of June.

It’s Canada’s third diamond mine, and the only diamond mine that’s 100-per-cent Canadian-owned.

Tahera also announced that they’ve used up the $35 million in credit extended to them by Tiffany & Co. for the purpose of financing construction of the mine. Tiffany has also agreed to buy and market most of Jericho’s production.

Despite the good news, Tahera’s share price is still low, trading at 67 cents this past Wednesday, down from a high of 83 cents reached the previous month.

That’s likely because of market reaction to news that warm weather forced closure of the ice road used to truck supplies to Jericho and other mines north of Yellowknife.