SlideShare a Scribd company logo
1 of 47
BUILDING QUÉBEC’S FIRST DIAMOND MINE
Red Cloud Mining Annual Fall Showcase, October 8th 2015
Matt Manson Orin Baranowsky
President & CEO Director, Investor Relations
2
Forward-Looking Information
This presentation contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as
“forward-looking statements”, are made as of the date of this presentation and the Corporation does not intend, and does not assume any obligation, to update these
forward-looking statements, except as required by law. These forward-looking statements include, among others, statements with respect to our beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. Although management considers these assumptions to be reasonable based on information currently available to it,
they may prove to be incorrect.
Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited
to, statements with respect to: (i) the amount of Mineral Resources and exploration targets; (ii) the amount of future production over any period; (iii) assumptions relating to
recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the 2011 Feasibility Study or the Optimization Study; (iv)
assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2011 Feasibility Study or the Optimization Study; (v) mine expansion
potential and expected mine life; and (vi) future exploration plans. Any statements that express or involve discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”,
“projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “schedule” or variations thereof or stating that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be
forward-looking statements.
Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual
results, performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such statements.
Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which
Stornoway will operate in the future, including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals, regulatory developments, development
plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters to be reasonable based on
information currently available to it, they may prove to be incorrect. Certain important assumptions by Stornoway or its consultants in making forward-looking statements
include, but are not limited to: (i) anticipated geological formations; (ii) Stornoway’s interpretation of the geological drill data collected and its potential impact on stated
Mineral Resources and mine life; (iii) future exploration plans and objectives. Additional risks are described in Stornoway's most recently filed Annual Information Form,
annual and interim MD&A, and other disclosure documents available under the Corporation’s profile at: www.sedar.com.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these
forward- looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the
assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-looking statements will be
correct, but specifically include, without limitation: (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as
Mineral Resources from that predicted; (ii) variations in rates of recovery and breakage; (iii) the uncertainty as to whether further exploration of exploration targets will
result in the targets being delineated as Mineral Resources; (iv) uncertainty of results of exploration in areas of potential expansion of resources; (v) changes in
development or mining plans due to changes in other factors or exploration results; and (vi) the additional risks described in Stornoway's most recently filed Annual
Information Form, annual and interim MD&A and Stornoway's anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of
factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time.
3
Forward-Looking Information (contd)
Readers are referred to the technical report dated as of February 28th, 2013 entitled “The Renard Diamond Project, Québec, Canada, Feasibility Study Update, NI 43-101
Technical Report, February 28, 2013” in respect of the January 2013 Optimization Study, and the press release dated September 24, 2015 in respect of the September
2015 Mineral Resource estimate for further details and assumptions relating to the project.
The Qualified Persons that prepared the technical reports and press releases that form the basis for the presentation are listed in the Company’s AIF dated July 27, 2015.
Disclosure of a scientific or technical nature in this presentation was prepared under the supervision of Patrick Godin, P.Eng. (Québec), Chief Operating Officer and Robin
Hopkins, P.Geol. (NT/NU), Vice President, Exploration, both “qualified persons” under NI 43-101. Darrell Farrow, PrSciNat, P.Geo.(BC), Ordre des geologues du Quebec
(Special Authorisation # 332) of GeoStrat Consulting Services Inc. is the independent Qualified Person responsible for preparation of the mineral resource estimate for the
Renard Diamond Project. GeoStrat Consulting Services Inc, a mineral resources consultancy, focuses on client interaction and involvement in developing resource
models, and has experience in exploration, geological modeling, resource evaluation, production, resource reconciliation and accounting of diamond deposits around the
globe. GeoStrat has verified the results disclosed herein with respect to the mineral resources, and has conducted appropriate verification on the underlying data, including
visitations to the Renard site and the primary process laboratories.
The Renard
Diamond Project,
September 16, 2015
4
Stornoway Diamond Corporation TSX:SWY
Notes:
1. Assuming a C$:US$ conversion rate of C$1.10
Fully Financed
July 8th 2014: C$946M1 one-shot project financing completed.
On Budget, On Schedule
Construction 41% complete compared to 37% planned by end August 2015. Forecast cost to
complete within C$811m budget. Plant Commissioning 2H 2016. Commercial Production 2Q 2017.
100% Ownership in Renard, Québec’s First Diamond Mine
Road Accessible; Strong Social License; Fully Permitted; Under Construction
Site Overview Sep 16, 2015
The Renard
Diamond Project,
September 16, 2015
5
Publicly Listed Diamond Producers, Developers and Explorers
Consensus Analyst Views on Value
Ticker
Price
(7/10/15)
Shares
O/S
(mm)
Market
Cap
($mm)
NAV/sh(1) Current
P/NAV(1) Target (1) % Return
to Target
Annual
Dividend
Diamond Producers
ALROSA ALRS:M ₽58.85 7,365.0 ₽433,428 (n/a) (n/a) ₽80.92 40% ₽1.47/sh
Dominion Diamonds DDC:T $14.34 85.1 $1,220.8 $30.00 0.5x $26.34 78% US$0.40/sh
Gem GEMD:LN £1.12 138.3 £154.9 £2.16 0.5x £1.83 67% US$0.05/sh
Lucara LUC:T $1.69 379.6 $641.5 $2.48 0.7x $2.51 51% $0.04/sh
Petra PDL:LN £0.98 512.1 £500.8 £1.85 0.5x £1.78 84% £0.02/sh
Diamond Developers
Firestone FDI:LN £0.23 309.0 £71.1 £0.51 0.5x £0.47 106% (n/a)
Mountain Province MPV:T $4.21 159.7 $672.2 $7.15 0.6x $6.69 59% (n/a)
Stornoway SWY:T $0.70 732.3 $512.6 $1.47 0.5x $1.21 73% (n/a)
Diamond Explorers
Kennady Diamonds KDI:LN $3.00 34.2 $102.7 (n/a) (n/a) (n/a) (n/a) (n/a)
North Arrow Minerals NAR:V $0.30 54.0 $16.2 (n/a) (n/a) (n/a) (n/a) (n/a)
Peregrine Diamonds PGD:T $0.17 282.7 $48.1 (n/a) (n/a) (n/a) (n/a) (n/a)
Shore Gold SGF:T $0.15 248.7 $37.3 (n/a) (n/a) (n/a) (n/a) (n/a)
Notes:
1. Bloomberg and Thomson One Analyst Consensus
All Currencies in C$ unless specified
6
Why Stornoway? Renard’s Cash Flow Potential
Based on Base Case Economics
Renard is Expected to Generate Substantial Cash Flow
over its first 11 years of Mining
After Tax, After Stream Operating Cash Flow of between
$150 and $250 million, or $0.20 to $0.30 per share
Assumptions
Mineral reserve case only, averaging 1.6mcarats per annum at US$190/carat
Capital and operating cost parameters as established in the January 2013 Optimization Study
and October 2013 LNG FS
Base case diamond pricing from March 2014; No “special” diamonds.
2.5% annual real diamond price escalation
C$:US$ conversion rate of C$1.10
Based on terms of Financing Transaction closed on July 8th 2014
Assumes full conversion to equity of US$81million of Convertible
Debentures giving 825 million shares outstanding.
Significant Upside Potential from Resource,
Large Diamonds and Processing Capacity
77
Renard: Québec’s First Diamond Mine
8
The Renard Diamond Project
Québec’s First Diamond Mine
Chibougamau
Montréal
Toronto
800km
360km
Renard
1996: Start of initial regional exploration by Ashton & SOQUEM
2001: First kimberlite discovery
2001-08: Drilling, “mini-bulk” sampling, bulk sampling
2008-10: First NI 43-101 Resource and PEA
November 2011: Feasibility Study issued. First mineral reserve
December 2012: ESIA filed
February 2012: Road construction commences under Plan Nord
March 2012: “Mecheshoo Agreement” executed
Nov.-Dec.2012: Mining Lease and Québec Authorizations
issued
January 2013: Optimization Study issued
July 2013: Federal Canadian Authorizations Issued
September 2013: Road opens
April-July 2014: $C946m financing completed. Construction
commences
2Q 2017: Scheduled Commercial Production
2001: First Kimberlite Discovery
+7-9 Years: First NI 43-101 Resource and PEA
+16 Years: Commercial Production
+12 Years: Final Authorizations Issued
9
Lynx
R10
N
R7
R1Hibou
R4
R9
R2
R3
R65
R8
Hibou
Lynx
R4
R9
R2
R3
R65
R1Hibou
Lynx
Legend
Stornoway Properties
Hydro-Québec Facility
Renard Kimberlites
Kimberlitic Dyke
Regional Kimberlites
Hydro-Québec
Powerlines
Route 167 Extension/
Renard Mine Road
Road
Exploration/ Mining
Projects
LEGEND:
0 1 2
Kilometers
60 0 60 120
Kilometers
Renard
LG3LG2
LG4
Laforge 1
Laforge 2
Brisay
Foxtrot Property
Eastmain Mine
Troilus Mine
Eleonore Mine
Temiscamie
Mistissini
Chibougamau
Matagami
Renard Kimberlite Bodies
800m
900m
1100m
1200m
1000m
Renard Mine Plan and Key Operating Assumptions
A Combined Open Pit and Underground Operation
Notes
1. Key Assumptions:C$1=US$1, Oil US$95/barrel, 2.5% real terms diamond
price growth, 82.9% ore recovery, 23.8% mining and internal dilution, 0cpht
dilution grade.
2. Expressed in May 2011 terms. Average price US$190/carat in March 2014
terms.
3. Expressed in October 2012 terms, as adjusted in October 2013 LNG FS.
Includes C$754m of costs and contingencies and C$57m of escalation
allowance.
4. Expressed in October 2012 terms. Operating costs C$54/tonne in October
2013 LNG FS terms. Excludes capitalized preproduction costs.
5. Before stream
Reserve and Resource categories are compliant with the "CIM Definition Standards
on Mineral Resources and Reserves". Mineral resources that are not mineral
reserves do not have demonstrated economic viability. The potential quantity and
grade of any Exploration Target is conceptual in nature, and it is uncertain if further
exploration will result in the target being delineated as a mineral resource.
Reserve Based Mine Plan1
(Jan 2013 FS Optimization and October 2013 LNG
Option FS)
Mine Life 11 years
Mineral Reserve 17.9 mcarats
Ave. Diamond Price2
$180/carat
Production Rate 2.2 mtonnes/yr
Ave. Diamond Production 1.6 mcarats/yr
Gross Revenue (C$M)2
$4,268
Initial Capital Costs3
$811m
Operating Cost4
$58/t ($76/carat)
Operating Margin5
67%
Payback 4.8 years
10
0m
100m
200m
400m
600m
700m
500m
300m
Renard 4
Renard 9
Renard 65
Renard 2
Renard 3
Mineral Resource Estimate Effective September
24, 2015 (NI 43-101)
13 mcarats Inferred Mineral Resources
28 to 60 mcarats TFFE
30 mcarats Indicated Mineral Resources
An Updated Renard Mine Plan, scheduled for Q2
2016, is expected to include additional mine
production from new Indicated Mineral Resources
in Renard 2 and Renard 65, deepening of the
Renard 2-3 open pit, extension of the underground
mine infrastructure to 700m, and an optimized
schedule for plant commissioning and ramp-up.
11
Renard 2 Mineral Resource Update
Effective September 24 2015. Changes to Previous Estimate Shown in Italics
Pipe shape
at surface
(1.89ha)
High TFFE at
1,250m (1.38ha)
Notes
1 Reserve and Resource categories were completed in accordance with the "CIM Definition Standards
on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
2 Totals may not add due to rounding.
3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.
4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are
derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual
Information Form dated July 2015).
0m
700m
850m
1250m
INDICATED
INFERRED
TFFE
600m: Base of
Previous Indicated
Mineral Resources
Depth
Below
Surface
Kimberlite
outline
at surface
(0.75ha)
Low TFFE at
1,250m (0.62ha)
Base of New
Indicated
Resources
(1.55ha)
Indicated Mineral Resources(1,2,4)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(3)
Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%
Renard 2, w/o CRB-
2A, CRB
20.39 +11.0% 20.52 +15.9% 99 -4.3%
CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --
CRB 0.90 n/a 4.28 n/a 21 n/a
Inferred Mineral Resources(1,2)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(3)
Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%
Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%
CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%
Target for Further Exploration(1)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(2)
Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100
North View Renard 2 NI 43-101 Mineral Resource Estimate
Renard 2 Targets for Further Exploration
Notes
1 Represents potential upside that can be reasonably assumed given the nature and grade of material
within the current 2015 Mineral Resource. The potential quantity and grade of any Exploration Target is
conceptual in nature, there has been insufficient information to define a mineral resource, and it is
uncertain if further exploration will result in the target being delineated as a mineral resource.
2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off.
Pinch in
model in area
lacking drill
coverage
12
The Feasibility: 11 years
of mining on 18mcarat
Mineral Reserve
(24mtonnes)
Permitting and Long
Term Plan
The Vision: Deposit still
Open
Millions
of Tonnes TFFE High Range
Inferred Mineral Resource
TFFE Low Range
Indicated Mineral Resource
The Renard Diamond Project
A Large, High Value Diamond Resource with a Very Long Mine Life Potential
0m
100m
200m
400m
900m
700m
500m
300m
Source: Stornoway, 2015
Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve
size cut-off. Reserve and Resource categories are compliant with the "CIM Definition Standards on
Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The potential quantity and grade of any Exploration Target
(previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if
further exploration will result in the target being delineated as a mineral resource.
Renard 65
29/24cpht
Renard 3
102/112cpht
Renard 4
61/52cpht Renard 9
53cpht
Renard 2
84/59cpht
800m
600m
1100m
1200m
1000m
30 mcarat Indicated Mineral Resource
13 mcarat Inferred Mineral Resource
28-60 mcarat TFFE
0
20
40
60
80
100
120
140
160
13
Renard’s Diamonds
Large Diamond Potential Not Included in Base Case Diamond Valuation Models
March 2014 Diamond Valuations
(WWW International Diamond Consultants Ltd.)
Kimberlite
Body
Size of
Valuation
Sample
(carats)
WWW March
2014 Sample
Price
(US$/carat)1
WWW March
2014 Base Case
Price Model
(US$/carat)1
Sensitivities
(Minimum to High)
Renard 2 1,580 $187 $197 $178 to $222
Renard 3 2,753 $179 $157 $146 to $192
Renard 4 2,674 $101 $106 ($155)2
$100 to $174
Renard 65 997 $262 $187 $175 to $211
Notes
1. All prices in US$/carat. Samples utilizing a +1 DTC sieve size cut-off.
2. Should the Renard 4 diamond population prove to have a diamond population with a size distribution
equal to the average of Renard 2 and 3, WWW have estimated that a base case diamond price model
of $155 per carat based on March 2014 pricing. Source: WWW March 2014 Valuation Update
Three Renard 65
diamonds: 9.78 ct and
6.41 ct diamonds
recovered from bulk
sampling and a 4 carat
stone discovered in
drillcore in 2003
Base Case Diamond Valuation
Estimates Using Best Practice
Methodology
Average diamond price estimate in
March 2014 for the Mineral Reserves
at US$190/ct (un-escalated)
compared to US$180/ct in the January
2013 Optimization Study.
High Quality Production with
Large Stone Potential
The Renard kimberlites have similar,
but marginally different diamond
populations exhibiting a high
incidence of large white gems.
Coarse Size Distribution in Renard 2
predicts three to six 50-100ct stones
and one to two +100ct stones every
100,000 carats (two weeks).
Substantial revenue potential from
large diamonds not accounted for in
the base case cash-flow model.
14
Stornoway will be a Significant Diamond Producer
Current and Future Diamond Producers
Source: Kimberly Process, WWW and Company Reports
Latest 12 Month Sales/ Forecast Future
Average Sales
1 De Beers (Anglo/Botswana) $6,312m
2 Alrosa (Russia) $4,901m
3 Dominion Diamond (TSX: DDC) $872m
4 Rio Tinto (ASE: RIO) $801m
5 Petra (L: PDL) $425m
6 Stornoway (note 2; TSX: SWY) $310m
7 Mountain Province (note 2; TSX: MPV) $259m
8 Gem Diamonds (TSX: GEMD) $241m
9 Lucara (TSX: LUC) $196m
10 Firestone (note 3; L: FDI) $125m
11 Others $2,558m
Total $17,000m
DeBeers
37%
Alrosa
29%
Dominion
5%
RioTinto
5%
Petra
2%
SWY
2%
MPV
1%
GEM
1%LUC
1%Firestone
1%
Others
15%
Notes:
1. Renard estimated at FS average annual diamond production of 1.63 million carats, and WWW March 2014 weighted diamond price of US$190/ct, un-escalated
2. Gahcho Kué estimated at 49% of Revised FS average annual production of 4.45 million carats, and average modeled diamond price of US$118/ct, un-escalated
3. Firestone estimated at revised 2015 mine plan average annual production of 0.95 million carats at an average price of US$132/ct un-escalated
6 Stornoway (note 1; TSX: SWY) $310m
15
Rough Diamond Pricing 2009-2015
A tracking of the diamond market since the publication of the November 2011 FS and January 2013 Opt.
FS indicates rough diamond prices have generally remained within the bounds of sensitivities contained
within the FS financial model (May 2011 spot prices and a 2.5% real terms annual price escalator).
May 2011 FS
Diamond Valuation
50
100
150
200
250
300
350
1-Jan-09 1-Jan-10 1-Jan-11 1-Jan-12 1-Jan-13 1-Jan-14 1-Jan-15
Indexto2009=100
WWW Rough Index, Renard Model Price Growth, Real Terms
CAD
USD
FS 2.5% Price Model
(Nominal, adjusted
for CPI) with +/- 10%
Sensitivity
WWW Rough
Diamond Price
Index
1616
Renard Construction Progress
17
Project Well Prepared for Execution
Construction Commenced July 10th 2014
Project Site July 2014
Permitting and Social Licence in Place
Mecheshoo Agreement signed with Crees in March
2012, partnership agreements with Chibougamau and
Chapais in July 2012, Québec and Federal
Authorisations in Dec. 2012 and July 2013 respectively.
Access Infrastructure in Place
Renard Mine Road opened to traffic on Aug. 30th 2013.
Renard Aerodrome opened to landings Nov. 5th 2013.
Owner’s Team and EPCM in Place
Owner’s construction team located in Longueuil. EPCM
contract negotiated with SNC-Lavalin, DRA & AMEC.
LNG Power
LNG power option selected to utilize all-season road
and commercial LNG distribution network in Québec.
Favourable Construction Environment
Competitive cost environment and good contractor/
labour availability in Québec.
R65 Borrow Pit
Exploration Camp
Lac Lagopede
Ground Breaking Ceremony July 8th 2014
18
Jean-Charles
Dumont
VP Finance
SWY since 2011
Formerly Corporate
Controller of La
Mancha.
Ebe Scherkus
Chairman of the
Board
Stornoway’s Management Credentials
Experience in Building and Operating Major Projects
Matt Manson
President, CEO
& Director
Pat Godin
COO & Director
SWY since 2011
Formerly President
and COO of Agnico
Eagle Mines Ltd.
Executive Chairman
of Premier Gold
SWY since 2007
Formerly VP
Marketing/VP
Technical Services,
Aber Diamond Corp
(Dominion Diamond;
Diavik Project)
SWY since 2010
Formerly VP Project
Development Gmining
(Essakane Mine).
Successive mine
management and
project development
positions, Cambior
Ian Holl
VP Processing
SWY since 2014
20 years experience De
Beers in plant
construction,
commissioning and
operation (Victor, Snap
Lake, Jwaneng Mines) Yves Peron
VP Engineering
& Construction
SWY since 2012
Formerly VP Bus. Dev.
at Delsaer and Seneca.
Successive
management roles at
ArcelorMittal and
Xstrata.
Martin Boucher
VP Sustainable
Development
SWY since 2010
Formerly Canadian
Royalties (Nunavik
Project) and Xstrata
(Raglan, Gaspesia,
Koniambo Mines)
Brian Glover
VP Asset
Protection
SWY since 2012
Formerly Director
Security Operations
at Harry Winston
(Dominion Diamond).
More than 20 years
experience RCMP.
Robin Hopkins
VP Exploration
SWY since 2006
Formerly Aber
Resources and
discovery of the
Diavik Mine.
19
Site Progress
Site Overview by Week 61
Project Site March 24, 2015
Project Site Sep 16, 2015
Admin
Process Plant
Accommodation
Maintenance Shop
R2-R3 PitR65 Pit
UG Mine Portal
Crusher
Power Plant
20
Access Infrastructure In Place
The 240km long Route 167 Extension and the Clarence and Abel Swallow Airport
Eastmain River Bridge March 2015
September 2015July 2014
January 2015 Airport Naming Ceremony, March 2015
21
Site Progress
Live Updates on Process Plant Construction at www.stornowaydiamonds.com
Plant Footprint, Oct 21, 2014
Project’s critical path item
Concrete (7 April) steel (14 June)
Building closure scheduled for October 2015
September 25, 2015
First Concrete Pour,
April 7, 2015
August 16, 2015
22
Process Plant at 6,000tpd (2.2Mtonnes per
annum) nameplate capacity, expandable to
7,000tpd (2.6Mtonnes per annum)
Optimization by DRA Americas Inc. has
allowed addition of Large Diamond
Recovery (“LDR”) capacity to the flow sheet
for no additional capital.
Flow sheet:
• Primary jaw crushing to < 230mm
• Twin DMS circuits at +1mm -19mm
• LDR circuit at +19mm -45mm, scalable
to -60mm
• Oversize +45mm to secondary cone
crusher
• LDR and DMS tails +6mm -19mm to
tertiary High Pressure Grinding Rolls
Cap-ex (Direct Costs, without Capitalized Op-ex)
• Jan 2013 Cap-ex without LDR: $162.7m
• Optimized Cap-ex with LDR: $147.1m
Thickening and centrifugal treatment of
fines and tails to create a truckable product
for dry-stack disposal.
Diamond Processing Plant
Represents Single Largest Cap-ex Item and Critical Path for Overall Construction
23
Site Progress
Primary Crusher and Power Plant
September 25, 2015October 1, 2015
24
Site Progress
Maintenance Facility Completed Approximately 6 Months Ahead of Schedule
Maintenance Shed, July 7, 2015
Maintenance Shed, April 20, 2015 Inauguration Ceremony, September 24, 2015
25
Open Pit Mining
Renard 2 – Renard 3 Pit Pre-stripping Commenced March 2015
R2-R3 Pre-Strip, March 5, 2015
Open Pit Mining Team, March 5, 2015
R2-R3
R65
Portal
R2-R3 Pit, May 23, 2015
Decline Ventilation, May 10, 2015
Mining Progress
as of July 31 2015 (FY16 Q1)
1,842,582 tonnes extracted from R2/R3 and vs plan of
2,042,680 (93%)
R2-R3 Pit August 29, 2015
26
Jumbo in Decline, May 25, 2015 Decline Ventilation, Sept 25, 2015
R2-R3
R65
Portal
Decline Progress
as of July 31, 2015 (FY16 Q1)
486m against plan of 504m (96%)
Underground Mining
27
Project Schedule
Based on Construction Mobilization July 10th 2014
Feasibility Study (Complete)
ESIA (Complete)
Public Hearings (Complete)
Reg. Authorizations (Complete)
Specific Operating Permits (50)
Road Construction (Complete)
Project Financing (Complete)
Detailed Engineering
Site Construction
Commissioning and Ramp-up
Commercial Production
2012
2H 2H 2H 2H2H 1H 1H 1H1H
2013 2014 2015 2016
2H1H
2017
Based on the Renard Diamond Project Construction Schedule, Plant
Commissioning is Planned for H2 2016 and Commercial Production in Q2 2017.
Oct 2015
First Vehicle Access
Completion Status
Construction (to Aug 31):
41% (planned 37%)
Engineering (to July 31):
80% (planned 87%)
2828
Corporate Data
29
Shareholding
Share Price (TSX-SWY):
Oct 7, 2015
C$ $0.70
52 week High-Low C$ $0.46–$0.85
Average Daily Volume:
Last 12 Months
384,171
Market Capitalization: C$ 513 million
Total Shares Outstanding: 732 million
Total Options & Warrants Outstanding:
(28.2m Options $0.59-$5.36; 123.8m
warrants $0.90-$1.21)
152 million
Consolidated Cash1,2:
(as of July 31, 2015)
C$ 270 million
Consolidated Debt1:
(as of July 31, 2015)
C$ 220 million
Undrawn Financing Commitments2,3:
(Subject to Financing Agreement CPs)
C$ 352 million
Balance Sheet
Balance Sheet and Capital Structure
Notes
1. Unaudited
2. Does not include funds received from second tranche of the Stream on September 30th
3. Assuming a C$:US$ conversion rate of C$1.10
Investissement Québec 28.6% 22.7%
Orion Mine Finance 19.5% 17.5%
CDPQ 6.1% 6.2%
Float 45.8% 53.6%
DilutedBasic
30
Sources and Uses of Funds to July 31, 2015
On Current C$:US$ Exchange Rates, Unless Noted. Un-audited
(all amounts in millions of C$) Assumed
Actual use
of Proceeds
to July 31,
2015
Renard Diamond Project
Capital Expenditures 811 311
Route 167 Extension (1) 70 70
Financing Costs, Interest during
Construction
58 24
Mine Closure Guarantee 16 2
Pre-production Net Revenue (26) -
Total Project Costs 929 407
General Corporate Purposes
Equity fees and transaction costs 18 29
General working capital,
administrative and salary expenses
14 6
Total Uses 961 442
Costs
Notes
1. The total amount borrowed pursuant to the Renard Mine Road loan was $77 million, of which $70 million was used for construction of the Renard Mine Road and $7
million was used for civil works related to the airstrip. Costs related to the airstrip were included in the $811 million capital expenditures line in the table above.
2. On September 30, 2015, Stornoway received the second tranche of US$80m of stream funding, which was subsequently converted to C$ at an exchange rate of
$1.336, representing a cash gain of C$18.9 million compared to the July 2014 funding plan, which assumed a C$:US$ exchange rate of $1.10.
3. Cost Overrun Facility includes the $20 million Senior Loan Facility, Tranche B and the $28 million Cost Overrun Facility with the CDPQ
4. Assuming a C$:US$ conversion rate of C$1.25
5. This forecast assumes a project cost of $811 million (which includes assumed levels of escalation and contingencies), the satisfaction of all covenants and
conditions precedent for future funding, and a CAD$:US$ exchange rate of $1.25 for unfunded US dollar denominated financing commitments.
(all amounts in millions of C$)
Sources of Funds
Stream Deposits not yet received(2) 213
Senior Loan Facility, Tranche A 100
Cost Overrun Facility(3) 48
Equipment Financing Facility(4) 17
Undrawn Sources of Funds
As of July 31, 2015, Stornoway forecasts excess
financing capacity available to complete the project
of approximately $101 million comprised of $53
million of cash, receivables and expected mine
tax credits and $48 million of undrawn cost
overrun facilities(5).
3131
Appendix 1: Stornoway’s C$946M Project Financing for Renard
32
Renard Project Financing Transaction Structure
Type
Amount
(% of Total)
Description
Common Equity C$374M (40%)
• C$132M marketed public equity offering of subscription receipts
• C$242M private placement to Orion (US$110M), RQ (C$100M) and Caisse (C$22M)
Diamond Stream US$250M (29%) • 20% diamond stream (Orion 16%, Caisse 4%) with ~US$56/ct(1) ongoing payment
Convertible Debentures US$81M (9%)
• Provided by Orion; 7 year, 6.25% coupon, 35% conversion premium to equity issue
price
Senior Debt C$120M (11%) • Provided by IQ; 7 year amortizing payment, Fixed (QC Bond)+5.75% or Prime +4.75%
Equipment Financing US$35M (4%) • Provided by Caterpillar
Cost Overrun Facility C$48M (5%)
• C$20M provided by IQ (same terms as senior debt)
• C$28M provided by Caisse (unsecured, 7 year term, 10% coupon)
Total C$946M (100%)
Assumes US$1.00 = C$1.10
1. Includes reimbursement of marketing expenses
Counter-Party
Amount
(% of Total)
Orion Mine Finance C$367M (39%)
Investissement Québec/
Ressources Québec
C$240M (25%)
Caisse de dépôt et
placement du Québec
C$105M (11%)
Caterpillar Financial C$39M (4%)
Public C$195M (21%)
Total C$946M (100%)
C$77M
C$811M
C$946M
C$70M
C$67M
Financing Funding Requirements
New
Financing
Existing
Financing
C$48M COF &
C$27M Working
Capital
Financing
Costs &
Interest During
Construction
Renard Mine
Road
Initial Capex &
Escalation
Allowance
33
Renard Stream Highlights
The World’s First Diamond Streaming Arrangement
As a component of the Renard Project Financing, Stornoway concluded a streaming arrangement in the
Renard Project with the CDPQ and Orion Mine Finance.
The streamers have the right to purchase 20% of the LOM production from R2, R3, R4, R9 and R65 for
$56/carat, escalating at 1% per annum on 3rd anniversary of commercial production. The streamers also
subscribed to equity and debt.
For this consideration, Stornoway received US$250million, to fund in three tranches, representing 34% of
the initial capital for the project and 29% of the overall financing plan.
The high operating margins of the Renard project and front-ended capital requirements make it ideally
suited for a streaming arrangement.
On spot C$:US$ exchange, the effective cash cost per carat of the project is lower today than in the January
2013 Optimized Feasibility Study, which assumed a parity dollar, even with consideration of the stream.
Notes
1. Average over 11 Year Mineral Reserve Case, Nominal Terms.
2. Shows the impact of a US$1.00 = C$1.25 exchange rate compared to the US$1.00 = C$1.00 rate utilized in the January 2013 Optimization Study
$58.92
$5.04
$20.43
$76.63 $7.76 $58.92
OS Jan 2013 LNG OS Oct 2013 Stream Exchange Rate Cash cost/ct
Effective Project Cash Cost, Before and After Stream (US$/ct)1
3434
Appendix 2: Renard Technical Data
35
Renard Diamond Project NI 43-101 Mineral Resource Estimate
Effective September 24 2015. Changes to Previous Estimate Shown in Italics
Notes
1 Resource categories were completed in accordance with the "CIM Definition
Standards on Mineral Resources and Reserves". Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
2 Totals may not add due to rounding.
3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.
4 Diamond valuation data utilized for the test of prospects of reasonable economic
extraction are derived from a diamond valuation exercise undertaken in March
2014 (see Stornoway Annual Information Form dated July 2015).
Indicated Mineral Resources(1,2,4)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(3)
Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%
Renard 2, w/o
CRB-2A, CRB
20.39 +11.0% 20.52 +15.9% 99 -4.3%
CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --
CRB 0.90 n/a 4.28 n/a 21 n/a
Renard 3 1.86 +2.3% 1.82 +3.4% 102 -1.0%
Renard 4 4.44 +3.0% 7.25 -- 61 +3.0%
Renard 65 2.30 -- 7.87 -- 29 --
Total Indicated
Mineral Resources
30.17 +11.4% 42.63 +20.2% 71 -7.4%
Inferred Mineral Resources(1,2)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(3)
Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%
Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%
CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%
Renard 3 0.61 -- 0.54 -- 112 --
Renard 4 2.46 +3.5% 4.75 -- 52 +3.5%
Renard 65 1.18 -- 4.93 -- 24 --
Renard 9 3.04 -- 5.70 -- 53 --
Lynx 1.92 -- 1.80 -- 107 --
Hibou 0.26 -- 0.18 -- 144 --
Total Inferred
Mineral Resources
13.35 -20.8% 24.49 -17.5% 54 -4.0%
Inferred Mineral Resources
Indicated Mineral Resources
High Range TFFE
Renard 65
775m depth
Renard 4
775m depth
Renard 9
775m depth
Renard 2
1,250m depth Renard 3
1,250m depth
North East View
36
Renard Diamond Project Exploration Potential
Effective September 24 2015. Changes to Previous Potential Shown in Italics
Notes
1 Target for Further Exploration: represents potential upside that can be reasonably assumed given the
nature and grade of material within the current 2015 Mineral Resource. The Renard 2 shape has been
projected 250m below the deepest kimberlite intersection at 1,000m depth. Tonnage and grade ranges
are not directly applicable to potential total carats.The potential quantity and grade of any Exploration
Target is conceptual in nature, there has been insufficient information to define a mineral resource, and
it is uncertain if further exploration will result in the target being delineated as a mineral resource.
2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off.
Notes
Resource categories were completed in accordance with the "CIM Definition
Standards on Mineral Resources and Reserves". Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
Area indicated in yellow represents a gap in drill coverage that may represent
additional exploration potential outside of the current Mineral Resource Estimate
and not included in the current Targets for Further Exploration.
Renard 65
775m depth
Renard 4
775m depth
Renard 9
775m depth
Renard 2
1,250m depth Renard 3
1,250m depth
Targets for Further Exploration(1)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(2)
Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100
Renard 3 3.6 to 6.4 3.4 to 3.8 105 to 168
Renard 4 5.6 to 11.9 11.1 to 15.4 50 to 77
Renard 65 7.3 to 13.5 29.0 to 40.9 25 to 33
Renard 9 2.0 to 4.3 3.9 to 6.3 52 to 68
Lynx 3.0 to 3.8 3.1 to 3.2 96 to 120
Hibou 2.8 to 4.4 2.7 to 2.9 104 to 151
Total TFFE
27.8
+8%
to
59.7
+25%
59.3
+9%
to
88.0
+17%
Inferred Mineral Resources
Indicated Mineral Resources
High Range TFFE
North East View
37
Renard 2 Geological Model and Unit Grades
Effective September 24 2015. Changes to Previous Estimate Shown in Italics
Within the Indicated Mineral Resources
Average Grade
(cpht)(1)
Average Dilution
(%)(2)
Kimb 2a (“Blue”) 76 +3.0% 52 -0.9%
Kimb 2b (“Brown”) 145 +1.0% 30 -0.9%
Kimb 2c (HK)3 229 +0.5% 12 -3.1%
CRB-2a 32 -- 93 --
CRB 21 n/a 96 n/a
Within the Inferred Mineral Resources
Average Grade
(cpht)(1)
Average Dilution
(%)(2)
Kimb 2a (“Blue”) 67 -2.4% 65 +9.2%
Kimb 2b (“Brown”) 145 +0.3% 30 +1.5%
Kimb 2c (HK)3 229 +0.5% 12 -3.1%
CRB 21 +10.5% 96 --
Notes
1 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.
2 Represents the average amount of non-diamond bearing country rock
estimated within each geological unit.
3 The Kimb 2c (Hypabyssal Kimberlite, or “HK”) unit is a constituent component
of each of the Kimb2a, Kimb2b, CRB and CRB-2a units.
Renard 2 Average Mineral
Resource Grades, by Geological Unit
Kimb2b
(“Brown”)
Kimb2a
(“Blue”) CRB CRB-2a Kimb2c (HK)
West View
Contact
Pinch in model in area
lacking drill coverage
0m
700m
850m
1250m
INDICATED
INFERRED
TFFE
600m: Base of
Previous Indicated
Mineral Resources
Depth
Below
Surface
North View
Photographs of
geological units from
the 2007 Renard
underground bulk
sample program
38
Renard 2 Geological Model and Renard 2-Renard 3 Convergence
Effective September 24 2015
Pipe shape
at surface (1.89ha)
Kimberlite outline
at surface (0.75ha)
Kimb2b (“Brown”)
Kimb2a (“Blue”)
CRB
CRB-2a
Surface View, Looking Down
Surface View, Looking Down
0m
700m
850m
1250m
R2 INDICATED
R2 INFERRED
R2 TFFE
Depth
Below
Surface
R3 INDICATED
R3 INFERRED
R3 TFFE
North East View
Resource categories were completed in accordance with the "CIM Definition Standards
on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do
not have demonstrated economic viability. The potential quantity and grade of any
Exploration Target is conceptual in nature, there has been insufficient information to
define a mineral resource and it is uncertain if further exploration will result in the target
being delineated as a mineral resource.
Renard 2 Renard 3
Renard 2
Renard 3
126.6m R3 intersection in DDH R2-
81J (in red) starting 942.2m
downhole: 47m true width.
R3 TFFE:
>500m potential
between drill
intersections
39
Chronology of Renard Studies
Feasibility Study
Released on November 16th 2011. NI 43-101 Technical Report filed December 29 2011.
11 Year Mine Plan based on 18 Mcarat Mineral Reserve derived from January 2011 NI 43-101 Resource.
Long Term Business Plan
Companion study to the Feasibility Study with an extended mine plan incorporating the project`s 17.5 million carats of
Inferred Mineral Resources.
Basis of overall mine design and project permitting. Not part of the project`s public disclosure, consistent with Canadian
reporting standards
Optimization Study
Released on January 28th, 2013. NI 43-101 Technical Report filed March 2013.
Refined of Feasibility mine design, including shaft deferral and a modified underground mining sequence.
11 Year Mine Plan based on 17.9 million carat Mineral Reserve.
Resource Update
Released July 2013. NI 43-101 Resource update with 14% increase in Indicated Resource contained carats
LNG Feasibility Study
Released October 2013. Modified project Cap-ex and Op-ex for LNG powered gen-sets
Resource Update
Released September 2015. NI 43-101 Resource update with 11% increase in Indicated Resource contained carats
40
January 2013 Optimization Study
Project Assumptions, Valuation and Pay-Back in the January 2013 FS Optimization Study
Key Assumptions in the Financial Model1
Mining
Parameters
Reserve Carats (M) 17.9
Tonnes Processed (M) 23.8
Recovered Grade (cpht) 75
Average Ore Recovery (%) 82.9%
Average Mining Dilution (%) 17.9%
Dilution Grade (cpht) 0
Processing Rate (Mtonnes/annum) 2.2
Mine Life (years) 11
Cost
Parameters
Initial Cap-ex (C$M)2 $752
LOM Cap-ex (C$M)4 $1,013
Oil Price (US$/barrel)2 $95
LOM Op-ex (C$/tonne)2 $57.63
LOM Op-ex (C$/carat)2 $76.63
Revenue
Parameters
Gross Revenue (C$M)2 $4,268
Marketing Costs 2.7%
DIAQUEM Royalty 2.0%
Cash Operating Margin (C$M)2 $2,693
% Operating Margin 67%
Income Tax, Mining Duties and IBA
Payments (C$M)1 $625
After Tax Net Cash Flow (C$M) $1,084
Diamond
Price
Parameters3
Renard 2 and Renard 3 (US$/carat) $182
Renard 4 (US$/carat) $164
Diamond Price Escalation 2.5%
Exchange rate 1C$=1US$
Schedule
Parameters6
Effective Date for NPV Calculation Jan. 1 2013
Construction Mobilization/Early Works Aug. 1 2013
Plant Commissioning Commences Dec. 1 2015
Commercial Production Declared Jun. 1 2016
Valuation Results5
(C$m)
Pre-Tax After Tax
NPV5% $894 $537
NPV7% (Base Case) $683 $391
NPV9% $514 $274
IRR 20.4% 16.3%
Pay-Back (years) 4.69 4.82
Notes
1. Optimization Study, released January 28th 2013.
2. Expressed in October 2012 terms.
3. Expressed in May 2011 terms.
4. Expressed in nominal terms.
5. Expressed in de-escalated nominal terms.
6. Schedule parameters are based on the schedule in
the Optimizaton Study, released on January 28th
2013. For revised schedule, please see our AIF
dated July 27th, 2015.
41
Probable Mineral Reserve
Mining Recovery Factors Utilized in the Reserve
Calculation
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained
Carats
(Millions)
Internal
Dilution
Mining
Recovery
Mining
Dilution
Renard 2 OP 95 1.31 1.24 0.0% 96.0% 7.1%
Renard 2 UG 80 17.03 13.62 7.0% 82.4% 20.2%
Renard 3 OP 93 0.72 0.67 0.0% 96.0% 10.5%
Renard 3 UG 84 1.00 0.84 21.1% 85.0% 14.0%
Renard 4 UG 42 3.72 1.58 1.4% 78.2% 14.0%
Total 75 23.79 17.95 5.9% 82.9% 17.9%
Notes: Reserve categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Totals may not add due to rounding. Grades are estimated at a
+1DTC sieve size cut-off.
R2 ,
83%
R3, 8%
R4, 9%
Revenue
R2 , 77%
R3, 7%
R4, 16%
Tonnage
R2 , 83%
R3, 8%
R4, 9%
Carats
NI 43-101 Probable Mineral Reserves
January 28th 2013
42
Liquefied Natural Gas Power Plant
The November 2011 Feasibility Study and January
2013 Optimization Study both contemplated on-site
power generation using traditional diesel fueled gen-
sets.
With a view to project optimization, in 2013
Stornoway undertook an investigation into a more
cost efficient alternatives for on-site power supply.
On October 21st 2013 Stornoway announced it will
proceed with an LNG fuelled gen-set option, made
possible by the ability to receive regular cryogenic
LNG shipments on the Renard Mine Road.
The Renard LNG plant will comprise seven 2.1MW
rated gas gen-sets, providing sufficient power
generation capacity for the project’s normal operating
specification of 9.5MW.
LNG has significant cost and environmental
advantages over traditional diesel powered gen-sets
and a Hydro-Québec power-line option.
Diesel will continue to be used for the mobile mining
fleet and construction activities.
43
Liquefied Natural Gas Power Plant
Feasibility Study Released October 2013
An LNG fuelled powerplant for Renard offers many advantages over diesel:
• Greatly reduced annual operating costs of $8m to $10m per year, for a small incremental
capital cost of $2.6m.
• Up to 43% less greenhouse gas emissions.
• stable supply market utilizing existing commercial distribution network within Québec.
• Elimination of on-site propane, as LNG will be used for building and underground mine
heating
Cost Improvements with LNG
2013 Optimization
Study with Diesel
2013 Optimization
Study with LNG
Unit Power Cost (C$/kWh) 1
$0.299 $0.188 (-37%)
Unit Operating Cost (C$/tonne) 1,2
$57.63 $53.84 (-7%)
Initial Capital Cost (C$m) 1
$752.1 $754.0 (+0.3%)
Life of Mine Capital Cost (C$m) 1,3
$1,013 $1,010 (-0.3%)
Annual Diesel Consumption (million litres) 27.5 5.9 (-79%)
Annual LNG Consumption (thousand m3
/annum) n/a 41.7
Annual Propane Consumption (thousand m3
/annum) 3.5 n/a
Notes
1. 2013 Optimization Study costs expressed in October 2012 terms.
2. Excludes capitalized preproduction costs.
3. Includes all initial, sustaining and deferred capital, contingencies and escalation
Key Assumptions
Based on the 11 year reserve-based mine life (17.9 mcarats) contained within
the 2013 Optimization Study, with a normal operating load of 9.49MW,
C$1=US$1, Oil US$95/barrel
4444
Appendix 3: Management Biographies
45
Hume Kyle
Independent
Pat Godin
COO & Director
Matt Manson
President, CEO
& Director
John LeBoutillier
Independent/
IQ Designate
Monique Mercier
Independent/
IQ Designate
Peter Nixon
Independent
Ebe Scherkus
Independent/
Board Chairman
Executive Officers
Non-Executive Directors
Key Managers
Head Office: Longueuil, Québec
Exploration Office: North Vancouver, BC
Community Offices: Mistissini & Chibougamau Québec
Stornoway’s Board and Management Team
Serge Vézina
Independent
Yves Perron
VP Engineering
& Construction
Ghislain
Poirier
VP Public Affairs
Brian Glover
VP Asset
Protection
Martin Boucher
VP Sustainable
Development
Robin
Hopkins
VP Exploration
Orin
Baranowsky
Director, IR
Douglas Silver
Orion Designate
Ian Holl
VP Processing
Annie Torkia-
Lagacé
VP Legal Affairs
Gaston Morin
Independent/
IQ Designate
Jean-Charles
Dumont
VP Finance
Helene
Robitaille
Director, HR
46
Pat Godin
COO & Director
Biographies
Ebe Scherkus
Chairman of the
Board
Matt Manson was appointed President of Stornoway Diamond Corporation in March 2007 and subsequently President &
CEO in January 2009. Between 1999 and 2005 he was employed by Aber Diamond Corporation (now Dominion
Diamond Corporation) as VP Marketing and subsequently VP Technical Services & Control, during which time he
participated in the US$230m project financing for the Diavik Diamond Project and oversaw Aber's technical and
marketing operations. In March 2015 he was awarded the Viola MacMillan award from the Prospectors and Developers
Association of Canada for the financing and development of Stornoway’s Renard Diamond Project. Mr. Manson is a
graduate of the University of Edinburgh (BSc Geophysics, 1987) and the University of Toronto (MSc Geology 1989 and
PhD Geology, 1996), and has over 20 years of experience in diamond exploration, development and production.
Pat Godin joined Stornoway as COO in May 2010. He was previously VP, Project Development for GMining Services,
responsible for the development of the Essakane Mine in Burkina Faso under contract to IAMGOLD, VP Operations for
Canadian Royalties, and President and General Manager of CBJ-CAIMAN S.A.S., a French subsidiary of Cambior /
IAMGOLD. For many years, he was involved in Cambior’s various Canadian properties in Abitibi-Témiscamingue,
through progressive management positions in project development and mine management. He holds a bachelor’s degree
in mining engineering from Université Laval in Québec and is a member of the “Ordre des Ingénieurs du Québec”. He is
the Chairman of the Board of Geomega Resources.
Ebe Scherkus served as the President and Chief Operating Officer and a director of Agnico-Eagle from 2005 to February
2012. Prior to his appointment as President and Chief Operating Officer in December 2005, Mr. Scherkus served as
Executive Vice-President and Chief Operating Officer from 1998 to 2005, as Vice-President, Operations from 1996 to
1998, as a manager of Agnico Eagle LaRonde Division from 1986 to 1996 and as a project manager from 1985 to 1986.
Mr. Scherkus is a graduate of McGill University (B.Sc.), a member of the Association of Professional Engineers of Ontario
and past president of the Québec Mining Association.
Matt Manson
President, CEO
& Director
47
Stornoway Diamond Corporation TSX:SWY
Head Office:
1111 Rue St. Charles Ouest,
Longueuil, Québec J4K 4G4
Tel: +1 (450) 616-5555
IR Contact:
Orin Baranowsky, CFA, Director IR
obaranowsky@stornowaydiamonds.com
Tel: +1 (416) 304-1026 x103
www.stornowaydiamonds.com
Info@stornowaydiamonds.com

More Related Content

What's hot

Stornoway Updated Mine Plan Support Materials March 30, 2016
Stornoway Updated Mine Plan Support Materials March 30, 2016Stornoway Updated Mine Plan Support Materials March 30, 2016
Stornoway Updated Mine Plan Support Materials March 30, 2016Stornoway Diamonds
 
Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016Stornoway Diamonds
 
Agm may 12 2017 final
Agm may 12 2017 finalAgm may 12 2017 final
Agm may 12 2017 finalPretiumR
 
29th Annual ROTH Conference 2017
29th Annual ROTH Conference 201729th Annual ROTH Conference 2017
29th Annual ROTH Conference 2017PretiumR
 
Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015PretiumR
 
Denver Gold Forum Presentation Sep 25 2017
Denver Gold Forum Presentation Sep 25 2017Denver Gold Forum Presentation Sep 25 2017
Denver Gold Forum Presentation Sep 25 2017Stornoway Diamonds
 
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental MaterialsStornoway Diamond Corporation Q2 2017 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental MaterialsStornoway Diamonds
 
Corporate Presentation Sept 5, 2014
Corporate Presentation Sept 5, 2014Corporate Presentation Sept 5, 2014
Corporate Presentation Sept 5, 2014PretiumR
 
Corporate Presentation Sept 2014
Corporate Presentation Sept 2014Corporate Presentation Sept 2014
Corporate Presentation Sept 2014PretiumR
 
Casey Research 2015 Summit
Casey Research 2015 SummitCasey Research 2015 Summit
Casey Research 2015 SummitPretiumR
 
Denver Gold Forum Sep 21, 2015 final(2)
Denver Gold Forum Sep 21, 2015 final(2)Denver Gold Forum Sep 21, 2015 final(2)
Denver Gold Forum Sep 21, 2015 final(2)PretiumR
 
Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013 Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013 Stornoway Diamonds
 
Stornoway Presentation at PDAC 2014
Stornoway Presentation at PDAC 2014Stornoway Presentation at PDAC 2014
Stornoway Presentation at PDAC 2014Stornoway Diamonds
 
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021Adnet Communications
 
Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012Stornoway Diamonds
 
New gold presentation march 2017 v website
New gold presentation march 2017 v websiteNew gold presentation march 2017 v website
New gold presentation march 2017 v websitenewgold2011
 
New gold presentation november 2017v final
New gold presentation november 2017v finalNew gold presentation november 2017v final
New gold presentation november 2017v finalnewgold2011
 
Stornoway Corporate Presentation PDAC 2015
Stornoway Corporate Presentation PDAC 2015Stornoway Corporate Presentation PDAC 2015
Stornoway Corporate Presentation PDAC 2015Stornoway Diamonds
 
Minerals north apr 2017 final
Minerals north apr 2017 finalMinerals north apr 2017 final
Minerals north apr 2017 finalPretiumR
 
Corporate Presentation Sept 2014
Corporate Presentation Sept 2014Corporate Presentation Sept 2014
Corporate Presentation Sept 2014PretiumR
 

What's hot (20)

Stornoway Updated Mine Plan Support Materials March 30, 2016
Stornoway Updated Mine Plan Support Materials March 30, 2016Stornoway Updated Mine Plan Support Materials March 30, 2016
Stornoway Updated Mine Plan Support Materials March 30, 2016
 
Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016
 
Agm may 12 2017 final
Agm may 12 2017 finalAgm may 12 2017 final
Agm may 12 2017 final
 
29th Annual ROTH Conference 2017
29th Annual ROTH Conference 201729th Annual ROTH Conference 2017
29th Annual ROTH Conference 2017
 
Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015
 
Denver Gold Forum Presentation Sep 25 2017
Denver Gold Forum Presentation Sep 25 2017Denver Gold Forum Presentation Sep 25 2017
Denver Gold Forum Presentation Sep 25 2017
 
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental MaterialsStornoway Diamond Corporation Q2 2017 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q2 2017 Earnings Release Supplemental Materials
 
Corporate Presentation Sept 5, 2014
Corporate Presentation Sept 5, 2014Corporate Presentation Sept 5, 2014
Corporate Presentation Sept 5, 2014
 
Corporate Presentation Sept 2014
Corporate Presentation Sept 2014Corporate Presentation Sept 2014
Corporate Presentation Sept 2014
 
Casey Research 2015 Summit
Casey Research 2015 SummitCasey Research 2015 Summit
Casey Research 2015 Summit
 
Denver Gold Forum Sep 21, 2015 final(2)
Denver Gold Forum Sep 21, 2015 final(2)Denver Gold Forum Sep 21, 2015 final(2)
Denver Gold Forum Sep 21, 2015 final(2)
 
Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013 Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013
 
Stornoway Presentation at PDAC 2014
Stornoway Presentation at PDAC 2014Stornoway Presentation at PDAC 2014
Stornoway Presentation at PDAC 2014
 
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
 
Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012
 
New gold presentation march 2017 v website
New gold presentation march 2017 v websiteNew gold presentation march 2017 v website
New gold presentation march 2017 v website
 
New gold presentation november 2017v final
New gold presentation november 2017v finalNew gold presentation november 2017v final
New gold presentation november 2017v final
 
Stornoway Corporate Presentation PDAC 2015
Stornoway Corporate Presentation PDAC 2015Stornoway Corporate Presentation PDAC 2015
Stornoway Corporate Presentation PDAC 2015
 
Minerals north apr 2017 final
Minerals north apr 2017 finalMinerals north apr 2017 final
Minerals north apr 2017 final
 
Corporate Presentation Sept 2014
Corporate Presentation Sept 2014Corporate Presentation Sept 2014
Corporate Presentation Sept 2014
 

Similar to Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015

Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015Stornoway Diamonds
 
Presentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining ConferencePresentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining ConferenceStornoway Diamonds
 
Renard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion MaterialsRenard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion MaterialsStornoway Diamonds
 
Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016Stornoway Diamonds
 
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...Stornoway Diamonds
 
Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016Stornoway Diamonds
 
Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014Stornoway Diamonds
 
Stornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting PresentationStornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting PresentationStornoway Diamonds
 
Stornoway 2014 English AGM Presentation
Stornoway 2014 English AGM PresentationStornoway 2014 English AGM Presentation
Stornoway 2014 English AGM PresentationStornoway Diamonds
 
A Dive into the International World of Diamonds
A Dive into the International World of DiamondsA Dive into the International World of Diamonds
A Dive into the International World of DiamondsStornoway Diamonds
 
Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017Stornoway Diamonds
 
Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018Stornoway Diamonds
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway Diamonds
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway Diamonds
 
Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results Stornoway Diamonds
 
Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018Stornoway Diamonds
 

Similar to Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015 (20)

Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015
 
Presentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining ConferencePresentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining Conference
 
Renard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion MaterialsRenard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion Materials
 
Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016
 
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
 
Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016
 
Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014
 
Stornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting PresentationStornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting Presentation
 
Swy 2013 AGM Presentation
Swy 2013 AGM PresentationSwy 2013 AGM Presentation
Swy 2013 AGM Presentation
 
Stornoway 2014 English AGM Presentation
Stornoway 2014 English AGM PresentationStornoway 2014 English AGM Presentation
Stornoway 2014 English AGM Presentation
 
A Dive into the International World of Diamonds
A Dive into the International World of DiamondsA Dive into the International World of Diamonds
A Dive into the International World of Diamonds
 
Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017
 
AGM 2017 Presentation
AGM 2017 PresentationAGM 2017 Presentation
AGM 2017 Presentation
 
Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results
 
Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018
 
Stornoway AGM 2018
Stornoway AGM 2018 Stornoway AGM 2018
Stornoway AGM 2018
 
Stornoway AGA 2018
Stornoway AGA 2018 Stornoway AGA 2018
Stornoway AGA 2018
 

More from Stornoway Diamonds

Swy td conference 2019 presentation
Swy td conference 2019 presentationSwy td conference 2019 presentation
Swy td conference 2019 presentationStornoway Diamonds
 
Stornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results PresentationStornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results PresentationStornoway Diamonds
 
Stornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 PresentationStornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 PresentationStornoway Diamonds
 
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental MaterialsStornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental MaterialsStornoway Diamonds
 
Stornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation finalStornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation finalStornoway Diamonds
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway Diamonds
 
Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017Stornoway Diamonds
 
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016Stornoway Diamonds
 
Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017Stornoway Diamonds
 
Corporate Presentation Feb 2017
Corporate Presentation Feb 2017Corporate Presentation Feb 2017
Corporate Presentation Feb 2017Stornoway Diamonds
 
Stornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 GuidanceStornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 GuidanceStornoway Diamonds
 
AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016Stornoway Diamonds
 

More from Stornoway Diamonds (14)

Swy td conference 2019 presentation
Swy td conference 2019 presentationSwy td conference 2019 presentation
Swy td conference 2019 presentation
 
Stornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results PresentationStornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results Presentation
 
Stornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 PresentationStornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 Presentation
 
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental MaterialsStornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
 
Stornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation finalStornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation final
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017
 
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
 
AGA 2017 Presentation
AGA 2017 PresentationAGA 2017 Presentation
AGA 2017 Presentation
 
Swy pdac-2017
Swy pdac-2017Swy pdac-2017
Swy pdac-2017
 
Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017
 
Corporate Presentation Feb 2017
Corporate Presentation Feb 2017Corporate Presentation Feb 2017
Corporate Presentation Feb 2017
 
Stornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 GuidanceStornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 Guidance
 
AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016
 

Recently uploaded

如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书Fir La
 
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书如何办理东俄勒冈大学毕业证(文凭)EOU学位证书
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书Fir La
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024Hector Del Castillo, CPM, CPMM
 
slideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfslideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfsansanir
 
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书Fis s
 
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd
 
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCRSapana Sha
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
Cyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberAgent, Inc.
 
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一Fir La
 
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...First NO1 World Amil baba in Faisalabad
 
如何办理伦敦大学毕业证(文凭)London学位证书
如何办理伦敦大学毕业证(文凭)London学位证书如何办理伦敦大学毕业证(文凭)London学位证书
如何办理伦敦大学毕业证(文凭)London学位证书Fis s
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 60009654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000Sapana Sha
 

Recently uploaded (20)

如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
如何办理密苏里大学堪萨斯分校毕业证(文凭)UMKC学位证书
 
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书如何办理东俄勒冈大学毕业证(文凭)EOU学位证书
如何办理东俄勒冈大学毕业证(文凭)EOU学位证书
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024
 
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Serviceyoung call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
 
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCREscort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
Escort Service Call Girls In Shalimar Bagh, 99530°56974 Delhi NCR
 
slideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfslideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdf
 
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书
如何办理(UTS毕业证书)悉尼科技大学毕业证学位证书
 
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
Osisko Gold Royalties Ltd - Corporate Presentation, April 23, 2024
 
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
Cyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdfCyberagent_For New Investors_EN_240424.pdf
Cyberagent_For New Investors_EN_240424.pdf
 
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Serviceyoung Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
 
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一
定制(UWIC毕业证书)英国卡迪夫城市大学毕业证成绩单原版一比一
 
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...No 1 AMil Baba In Islamabad  No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
No 1 AMil Baba In Islamabad No 1 Amil Baba In Lahore No 1 Amil Baba In Faisl...
 
如何办理伦敦大学毕业证(文凭)London学位证书
如何办理伦敦大学毕业证(文凭)London学位证书如何办理伦敦大学毕业证(文凭)London学位证书
如何办理伦敦大学毕业证(文凭)London学位证书
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
Model Call Girl in Udyog Vihar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Udyog Vihar Delhi reach out to us at 🔝9953056974🔝Model Call Girl in Udyog Vihar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Udyog Vihar Delhi reach out to us at 🔝9953056974🔝
 
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Uttam Nagar Delhi reach out to us at 🔝9953056974🔝
 
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Serviceyoung call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
 
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 60009654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
 

Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015

  • 1. BUILDING QUÉBEC’S FIRST DIAMOND MINE Red Cloud Mining Annual Fall Showcase, October 8th 2015 Matt Manson Orin Baranowsky President & CEO Director, Investor Relations
  • 2. 2 Forward-Looking Information This presentation contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as “forward-looking statements”, are made as of the date of this presentation and the Corporation does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. These forward-looking statements include, among others, statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of Mineral Resources and exploration targets; (ii) the amount of future production over any period; (iii) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the 2011 Feasibility Study or the Optimization Study; (iv) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2011 Feasibility Study or the Optimization Study; (v) mine expansion potential and expected mine life; and (vi) future exploration plans. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “schedule” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which Stornoway will operate in the future, including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters to be reasonable based on information currently available to it, they may prove to be incorrect. Certain important assumptions by Stornoway or its consultants in making forward-looking statements include, but are not limited to: (i) anticipated geological formations; (ii) Stornoway’s interpretation of the geological drill data collected and its potential impact on stated Mineral Resources and mine life; (iii) future exploration plans and objectives. Additional risks are described in Stornoway's most recently filed Annual Information Form, annual and interim MD&A, and other disclosure documents available under the Corporation’s profile at: www.sedar.com. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward- looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-looking statements will be correct, but specifically include, without limitation: (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as Mineral Resources from that predicted; (ii) variations in rates of recovery and breakage; (iii) the uncertainty as to whether further exploration of exploration targets will result in the targets being delineated as Mineral Resources; (iv) uncertainty of results of exploration in areas of potential expansion of resources; (v) changes in development or mining plans due to changes in other factors or exploration results; and (vi) the additional risks described in Stornoway's most recently filed Annual Information Form, annual and interim MD&A and Stornoway's anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time.
  • 3. 3 Forward-Looking Information (contd) Readers are referred to the technical report dated as of February 28th, 2013 entitled “The Renard Diamond Project, Québec, Canada, Feasibility Study Update, NI 43-101 Technical Report, February 28, 2013” in respect of the January 2013 Optimization Study, and the press release dated September 24, 2015 in respect of the September 2015 Mineral Resource estimate for further details and assumptions relating to the project. The Qualified Persons that prepared the technical reports and press releases that form the basis for the presentation are listed in the Company’s AIF dated July 27, 2015. Disclosure of a scientific or technical nature in this presentation was prepared under the supervision of Patrick Godin, P.Eng. (Québec), Chief Operating Officer and Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, both “qualified persons” under NI 43-101. Darrell Farrow, PrSciNat, P.Geo.(BC), Ordre des geologues du Quebec (Special Authorisation # 332) of GeoStrat Consulting Services Inc. is the independent Qualified Person responsible for preparation of the mineral resource estimate for the Renard Diamond Project. GeoStrat Consulting Services Inc, a mineral resources consultancy, focuses on client interaction and involvement in developing resource models, and has experience in exploration, geological modeling, resource evaluation, production, resource reconciliation and accounting of diamond deposits around the globe. GeoStrat has verified the results disclosed herein with respect to the mineral resources, and has conducted appropriate verification on the underlying data, including visitations to the Renard site and the primary process laboratories. The Renard Diamond Project, September 16, 2015
  • 4. 4 Stornoway Diamond Corporation TSX:SWY Notes: 1. Assuming a C$:US$ conversion rate of C$1.10 Fully Financed July 8th 2014: C$946M1 one-shot project financing completed. On Budget, On Schedule Construction 41% complete compared to 37% planned by end August 2015. Forecast cost to complete within C$811m budget. Plant Commissioning 2H 2016. Commercial Production 2Q 2017. 100% Ownership in Renard, Québec’s First Diamond Mine Road Accessible; Strong Social License; Fully Permitted; Under Construction Site Overview Sep 16, 2015 The Renard Diamond Project, September 16, 2015
  • 5. 5 Publicly Listed Diamond Producers, Developers and Explorers Consensus Analyst Views on Value Ticker Price (7/10/15) Shares O/S (mm) Market Cap ($mm) NAV/sh(1) Current P/NAV(1) Target (1) % Return to Target Annual Dividend Diamond Producers ALROSA ALRS:M ₽58.85 7,365.0 ₽433,428 (n/a) (n/a) ₽80.92 40% ₽1.47/sh Dominion Diamonds DDC:T $14.34 85.1 $1,220.8 $30.00 0.5x $26.34 78% US$0.40/sh Gem GEMD:LN £1.12 138.3 £154.9 £2.16 0.5x £1.83 67% US$0.05/sh Lucara LUC:T $1.69 379.6 $641.5 $2.48 0.7x $2.51 51% $0.04/sh Petra PDL:LN £0.98 512.1 £500.8 £1.85 0.5x £1.78 84% £0.02/sh Diamond Developers Firestone FDI:LN £0.23 309.0 £71.1 £0.51 0.5x £0.47 106% (n/a) Mountain Province MPV:T $4.21 159.7 $672.2 $7.15 0.6x $6.69 59% (n/a) Stornoway SWY:T $0.70 732.3 $512.6 $1.47 0.5x $1.21 73% (n/a) Diamond Explorers Kennady Diamonds KDI:LN $3.00 34.2 $102.7 (n/a) (n/a) (n/a) (n/a) (n/a) North Arrow Minerals NAR:V $0.30 54.0 $16.2 (n/a) (n/a) (n/a) (n/a) (n/a) Peregrine Diamonds PGD:T $0.17 282.7 $48.1 (n/a) (n/a) (n/a) (n/a) (n/a) Shore Gold SGF:T $0.15 248.7 $37.3 (n/a) (n/a) (n/a) (n/a) (n/a) Notes: 1. Bloomberg and Thomson One Analyst Consensus All Currencies in C$ unless specified
  • 6. 6 Why Stornoway? Renard’s Cash Flow Potential Based on Base Case Economics Renard is Expected to Generate Substantial Cash Flow over its first 11 years of Mining After Tax, After Stream Operating Cash Flow of between $150 and $250 million, or $0.20 to $0.30 per share Assumptions Mineral reserve case only, averaging 1.6mcarats per annum at US$190/carat Capital and operating cost parameters as established in the January 2013 Optimization Study and October 2013 LNG FS Base case diamond pricing from March 2014; No “special” diamonds. 2.5% annual real diamond price escalation C$:US$ conversion rate of C$1.10 Based on terms of Financing Transaction closed on July 8th 2014 Assumes full conversion to equity of US$81million of Convertible Debentures giving 825 million shares outstanding. Significant Upside Potential from Resource, Large Diamonds and Processing Capacity
  • 8. 8 The Renard Diamond Project Québec’s First Diamond Mine Chibougamau Montréal Toronto 800km 360km Renard 1996: Start of initial regional exploration by Ashton & SOQUEM 2001: First kimberlite discovery 2001-08: Drilling, “mini-bulk” sampling, bulk sampling 2008-10: First NI 43-101 Resource and PEA November 2011: Feasibility Study issued. First mineral reserve December 2012: ESIA filed February 2012: Road construction commences under Plan Nord March 2012: “Mecheshoo Agreement” executed Nov.-Dec.2012: Mining Lease and Québec Authorizations issued January 2013: Optimization Study issued July 2013: Federal Canadian Authorizations Issued September 2013: Road opens April-July 2014: $C946m financing completed. Construction commences 2Q 2017: Scheduled Commercial Production 2001: First Kimberlite Discovery +7-9 Years: First NI 43-101 Resource and PEA +16 Years: Commercial Production +12 Years: Final Authorizations Issued
  • 9. 9 Lynx R10 N R7 R1Hibou R4 R9 R2 R3 R65 R8 Hibou Lynx R4 R9 R2 R3 R65 R1Hibou Lynx Legend Stornoway Properties Hydro-Québec Facility Renard Kimberlites Kimberlitic Dyke Regional Kimberlites Hydro-Québec Powerlines Route 167 Extension/ Renard Mine Road Road Exploration/ Mining Projects LEGEND: 0 1 2 Kilometers 60 0 60 120 Kilometers Renard LG3LG2 LG4 Laforge 1 Laforge 2 Brisay Foxtrot Property Eastmain Mine Troilus Mine Eleonore Mine Temiscamie Mistissini Chibougamau Matagami Renard Kimberlite Bodies
  • 10. 800m 900m 1100m 1200m 1000m Renard Mine Plan and Key Operating Assumptions A Combined Open Pit and Underground Operation Notes 1. Key Assumptions:C$1=US$1, Oil US$95/barrel, 2.5% real terms diamond price growth, 82.9% ore recovery, 23.8% mining and internal dilution, 0cpht dilution grade. 2. Expressed in May 2011 terms. Average price US$190/carat in March 2014 terms. 3. Expressed in October 2012 terms, as adjusted in October 2013 LNG FS. Includes C$754m of costs and contingencies and C$57m of escalation allowance. 4. Expressed in October 2012 terms. Operating costs C$54/tonne in October 2013 LNG FS terms. Excludes capitalized preproduction costs. 5. Before stream Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Reserve Based Mine Plan1 (Jan 2013 FS Optimization and October 2013 LNG Option FS) Mine Life 11 years Mineral Reserve 17.9 mcarats Ave. Diamond Price2 $180/carat Production Rate 2.2 mtonnes/yr Ave. Diamond Production 1.6 mcarats/yr Gross Revenue (C$M)2 $4,268 Initial Capital Costs3 $811m Operating Cost4 $58/t ($76/carat) Operating Margin5 67% Payback 4.8 years 10 0m 100m 200m 400m 600m 700m 500m 300m Renard 4 Renard 9 Renard 65 Renard 2 Renard 3 Mineral Resource Estimate Effective September 24, 2015 (NI 43-101) 13 mcarats Inferred Mineral Resources 28 to 60 mcarats TFFE 30 mcarats Indicated Mineral Resources An Updated Renard Mine Plan, scheduled for Q2 2016, is expected to include additional mine production from new Indicated Mineral Resources in Renard 2 and Renard 65, deepening of the Renard 2-3 open pit, extension of the underground mine infrastructure to 700m, and an optimized schedule for plant commissioning and ramp-up.
  • 11. 11 Renard 2 Mineral Resource Update Effective September 24 2015. Changes to Previous Estimate Shown in Italics Pipe shape at surface (1.89ha) High TFFE at 1,250m (1.38ha) Notes 1 Reserve and Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. 2 Totals may not add due to rounding. 3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off. 4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual Information Form dated July 2015). 0m 700m 850m 1250m INDICATED INFERRED TFFE 600m: Base of Previous Indicated Mineral Resources Depth Below Surface Kimberlite outline at surface (0.75ha) Low TFFE at 1,250m (0.62ha) Base of New Indicated Resources (1.55ha) Indicated Mineral Resources(1,2,4) Contained Carats (millions) Tonnes (millions) Grade (cpht)(3) Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4% Renard 2, w/o CRB- 2A, CRB 20.39 +11.0% 20.52 +15.9% 99 -4.3% CRB-2A 0.29 +2.6% 0.90 +2.6% 32 -- CRB 0.90 n/a 4.28 n/a 21 n/a Inferred Mineral Resources(1,2) Contained Carats (millions) Tonnes (millions) Grade (cpht)(3) Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2% Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9% CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5% Target for Further Exploration(1) Contained Carats (millions) Tonnes (millions) Grade (cpht)(2) Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100 North View Renard 2 NI 43-101 Mineral Resource Estimate Renard 2 Targets for Further Exploration Notes 1 Represents potential upside that can be reasonably assumed given the nature and grade of material within the current 2015 Mineral Resource. The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off. Pinch in model in area lacking drill coverage
  • 12. 12 The Feasibility: 11 years of mining on 18mcarat Mineral Reserve (24mtonnes) Permitting and Long Term Plan The Vision: Deposit still Open Millions of Tonnes TFFE High Range Inferred Mineral Resource TFFE Low Range Indicated Mineral Resource The Renard Diamond Project A Large, High Value Diamond Resource with a Very Long Mine Life Potential 0m 100m 200m 400m 900m 700m 500m 300m Source: Stornoway, 2015 Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve size cut-off. Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Renard 65 29/24cpht Renard 3 102/112cpht Renard 4 61/52cpht Renard 9 53cpht Renard 2 84/59cpht 800m 600m 1100m 1200m 1000m 30 mcarat Indicated Mineral Resource 13 mcarat Inferred Mineral Resource 28-60 mcarat TFFE 0 20 40 60 80 100 120 140 160
  • 13. 13 Renard’s Diamonds Large Diamond Potential Not Included in Base Case Diamond Valuation Models March 2014 Diamond Valuations (WWW International Diamond Consultants Ltd.) Kimberlite Body Size of Valuation Sample (carats) WWW March 2014 Sample Price (US$/carat)1 WWW March 2014 Base Case Price Model (US$/carat)1 Sensitivities (Minimum to High) Renard 2 1,580 $187 $197 $178 to $222 Renard 3 2,753 $179 $157 $146 to $192 Renard 4 2,674 $101 $106 ($155)2 $100 to $174 Renard 65 997 $262 $187 $175 to $211 Notes 1. All prices in US$/carat. Samples utilizing a +1 DTC sieve size cut-off. 2. Should the Renard 4 diamond population prove to have a diamond population with a size distribution equal to the average of Renard 2 and 3, WWW have estimated that a base case diamond price model of $155 per carat based on March 2014 pricing. Source: WWW March 2014 Valuation Update Three Renard 65 diamonds: 9.78 ct and 6.41 ct diamonds recovered from bulk sampling and a 4 carat stone discovered in drillcore in 2003 Base Case Diamond Valuation Estimates Using Best Practice Methodology Average diamond price estimate in March 2014 for the Mineral Reserves at US$190/ct (un-escalated) compared to US$180/ct in the January 2013 Optimization Study. High Quality Production with Large Stone Potential The Renard kimberlites have similar, but marginally different diamond populations exhibiting a high incidence of large white gems. Coarse Size Distribution in Renard 2 predicts three to six 50-100ct stones and one to two +100ct stones every 100,000 carats (two weeks). Substantial revenue potential from large diamonds not accounted for in the base case cash-flow model.
  • 14. 14 Stornoway will be a Significant Diamond Producer Current and Future Diamond Producers Source: Kimberly Process, WWW and Company Reports Latest 12 Month Sales/ Forecast Future Average Sales 1 De Beers (Anglo/Botswana) $6,312m 2 Alrosa (Russia) $4,901m 3 Dominion Diamond (TSX: DDC) $872m 4 Rio Tinto (ASE: RIO) $801m 5 Petra (L: PDL) $425m 6 Stornoway (note 2; TSX: SWY) $310m 7 Mountain Province (note 2; TSX: MPV) $259m 8 Gem Diamonds (TSX: GEMD) $241m 9 Lucara (TSX: LUC) $196m 10 Firestone (note 3; L: FDI) $125m 11 Others $2,558m Total $17,000m DeBeers 37% Alrosa 29% Dominion 5% RioTinto 5% Petra 2% SWY 2% MPV 1% GEM 1%LUC 1%Firestone 1% Others 15% Notes: 1. Renard estimated at FS average annual diamond production of 1.63 million carats, and WWW March 2014 weighted diamond price of US$190/ct, un-escalated 2. Gahcho Kué estimated at 49% of Revised FS average annual production of 4.45 million carats, and average modeled diamond price of US$118/ct, un-escalated 3. Firestone estimated at revised 2015 mine plan average annual production of 0.95 million carats at an average price of US$132/ct un-escalated 6 Stornoway (note 1; TSX: SWY) $310m
  • 15. 15 Rough Diamond Pricing 2009-2015 A tracking of the diamond market since the publication of the November 2011 FS and January 2013 Opt. FS indicates rough diamond prices have generally remained within the bounds of sensitivities contained within the FS financial model (May 2011 spot prices and a 2.5% real terms annual price escalator). May 2011 FS Diamond Valuation 50 100 150 200 250 300 350 1-Jan-09 1-Jan-10 1-Jan-11 1-Jan-12 1-Jan-13 1-Jan-14 1-Jan-15 Indexto2009=100 WWW Rough Index, Renard Model Price Growth, Real Terms CAD USD FS 2.5% Price Model (Nominal, adjusted for CPI) with +/- 10% Sensitivity WWW Rough Diamond Price Index
  • 17. 17 Project Well Prepared for Execution Construction Commenced July 10th 2014 Project Site July 2014 Permitting and Social Licence in Place Mecheshoo Agreement signed with Crees in March 2012, partnership agreements with Chibougamau and Chapais in July 2012, Québec and Federal Authorisations in Dec. 2012 and July 2013 respectively. Access Infrastructure in Place Renard Mine Road opened to traffic on Aug. 30th 2013. Renard Aerodrome opened to landings Nov. 5th 2013. Owner’s Team and EPCM in Place Owner’s construction team located in Longueuil. EPCM contract negotiated with SNC-Lavalin, DRA & AMEC. LNG Power LNG power option selected to utilize all-season road and commercial LNG distribution network in Québec. Favourable Construction Environment Competitive cost environment and good contractor/ labour availability in Québec. R65 Borrow Pit Exploration Camp Lac Lagopede Ground Breaking Ceremony July 8th 2014
  • 18. 18 Jean-Charles Dumont VP Finance SWY since 2011 Formerly Corporate Controller of La Mancha. Ebe Scherkus Chairman of the Board Stornoway’s Management Credentials Experience in Building and Operating Major Projects Matt Manson President, CEO & Director Pat Godin COO & Director SWY since 2011 Formerly President and COO of Agnico Eagle Mines Ltd. Executive Chairman of Premier Gold SWY since 2007 Formerly VP Marketing/VP Technical Services, Aber Diamond Corp (Dominion Diamond; Diavik Project) SWY since 2010 Formerly VP Project Development Gmining (Essakane Mine). Successive mine management and project development positions, Cambior Ian Holl VP Processing SWY since 2014 20 years experience De Beers in plant construction, commissioning and operation (Victor, Snap Lake, Jwaneng Mines) Yves Peron VP Engineering & Construction SWY since 2012 Formerly VP Bus. Dev. at Delsaer and Seneca. Successive management roles at ArcelorMittal and Xstrata. Martin Boucher VP Sustainable Development SWY since 2010 Formerly Canadian Royalties (Nunavik Project) and Xstrata (Raglan, Gaspesia, Koniambo Mines) Brian Glover VP Asset Protection SWY since 2012 Formerly Director Security Operations at Harry Winston (Dominion Diamond). More than 20 years experience RCMP. Robin Hopkins VP Exploration SWY since 2006 Formerly Aber Resources and discovery of the Diavik Mine.
  • 19. 19 Site Progress Site Overview by Week 61 Project Site March 24, 2015 Project Site Sep 16, 2015 Admin Process Plant Accommodation Maintenance Shop R2-R3 PitR65 Pit UG Mine Portal Crusher Power Plant
  • 20. 20 Access Infrastructure In Place The 240km long Route 167 Extension and the Clarence and Abel Swallow Airport Eastmain River Bridge March 2015 September 2015July 2014 January 2015 Airport Naming Ceremony, March 2015
  • 21. 21 Site Progress Live Updates on Process Plant Construction at www.stornowaydiamonds.com Plant Footprint, Oct 21, 2014 Project’s critical path item Concrete (7 April) steel (14 June) Building closure scheduled for October 2015 September 25, 2015 First Concrete Pour, April 7, 2015 August 16, 2015
  • 22. 22 Process Plant at 6,000tpd (2.2Mtonnes per annum) nameplate capacity, expandable to 7,000tpd (2.6Mtonnes per annum) Optimization by DRA Americas Inc. has allowed addition of Large Diamond Recovery (“LDR”) capacity to the flow sheet for no additional capital. Flow sheet: • Primary jaw crushing to < 230mm • Twin DMS circuits at +1mm -19mm • LDR circuit at +19mm -45mm, scalable to -60mm • Oversize +45mm to secondary cone crusher • LDR and DMS tails +6mm -19mm to tertiary High Pressure Grinding Rolls Cap-ex (Direct Costs, without Capitalized Op-ex) • Jan 2013 Cap-ex without LDR: $162.7m • Optimized Cap-ex with LDR: $147.1m Thickening and centrifugal treatment of fines and tails to create a truckable product for dry-stack disposal. Diamond Processing Plant Represents Single Largest Cap-ex Item and Critical Path for Overall Construction
  • 23. 23 Site Progress Primary Crusher and Power Plant September 25, 2015October 1, 2015
  • 24. 24 Site Progress Maintenance Facility Completed Approximately 6 Months Ahead of Schedule Maintenance Shed, July 7, 2015 Maintenance Shed, April 20, 2015 Inauguration Ceremony, September 24, 2015
  • 25. 25 Open Pit Mining Renard 2 – Renard 3 Pit Pre-stripping Commenced March 2015 R2-R3 Pre-Strip, March 5, 2015 Open Pit Mining Team, March 5, 2015 R2-R3 R65 Portal R2-R3 Pit, May 23, 2015 Decline Ventilation, May 10, 2015 Mining Progress as of July 31 2015 (FY16 Q1) 1,842,582 tonnes extracted from R2/R3 and vs plan of 2,042,680 (93%) R2-R3 Pit August 29, 2015
  • 26. 26 Jumbo in Decline, May 25, 2015 Decline Ventilation, Sept 25, 2015 R2-R3 R65 Portal Decline Progress as of July 31, 2015 (FY16 Q1) 486m against plan of 504m (96%) Underground Mining
  • 27. 27 Project Schedule Based on Construction Mobilization July 10th 2014 Feasibility Study (Complete) ESIA (Complete) Public Hearings (Complete) Reg. Authorizations (Complete) Specific Operating Permits (50) Road Construction (Complete) Project Financing (Complete) Detailed Engineering Site Construction Commissioning and Ramp-up Commercial Production 2012 2H 2H 2H 2H2H 1H 1H 1H1H 2013 2014 2015 2016 2H1H 2017 Based on the Renard Diamond Project Construction Schedule, Plant Commissioning is Planned for H2 2016 and Commercial Production in Q2 2017. Oct 2015 First Vehicle Access Completion Status Construction (to Aug 31): 41% (planned 37%) Engineering (to July 31): 80% (planned 87%)
  • 29. 29 Shareholding Share Price (TSX-SWY): Oct 7, 2015 C$ $0.70 52 week High-Low C$ $0.46–$0.85 Average Daily Volume: Last 12 Months 384,171 Market Capitalization: C$ 513 million Total Shares Outstanding: 732 million Total Options & Warrants Outstanding: (28.2m Options $0.59-$5.36; 123.8m warrants $0.90-$1.21) 152 million Consolidated Cash1,2: (as of July 31, 2015) C$ 270 million Consolidated Debt1: (as of July 31, 2015) C$ 220 million Undrawn Financing Commitments2,3: (Subject to Financing Agreement CPs) C$ 352 million Balance Sheet Balance Sheet and Capital Structure Notes 1. Unaudited 2. Does not include funds received from second tranche of the Stream on September 30th 3. Assuming a C$:US$ conversion rate of C$1.10 Investissement Québec 28.6% 22.7% Orion Mine Finance 19.5% 17.5% CDPQ 6.1% 6.2% Float 45.8% 53.6% DilutedBasic
  • 30. 30 Sources and Uses of Funds to July 31, 2015 On Current C$:US$ Exchange Rates, Unless Noted. Un-audited (all amounts in millions of C$) Assumed Actual use of Proceeds to July 31, 2015 Renard Diamond Project Capital Expenditures 811 311 Route 167 Extension (1) 70 70 Financing Costs, Interest during Construction 58 24 Mine Closure Guarantee 16 2 Pre-production Net Revenue (26) - Total Project Costs 929 407 General Corporate Purposes Equity fees and transaction costs 18 29 General working capital, administrative and salary expenses 14 6 Total Uses 961 442 Costs Notes 1. The total amount borrowed pursuant to the Renard Mine Road loan was $77 million, of which $70 million was used for construction of the Renard Mine Road and $7 million was used for civil works related to the airstrip. Costs related to the airstrip were included in the $811 million capital expenditures line in the table above. 2. On September 30, 2015, Stornoway received the second tranche of US$80m of stream funding, which was subsequently converted to C$ at an exchange rate of $1.336, representing a cash gain of C$18.9 million compared to the July 2014 funding plan, which assumed a C$:US$ exchange rate of $1.10. 3. Cost Overrun Facility includes the $20 million Senior Loan Facility, Tranche B and the $28 million Cost Overrun Facility with the CDPQ 4. Assuming a C$:US$ conversion rate of C$1.25 5. This forecast assumes a project cost of $811 million (which includes assumed levels of escalation and contingencies), the satisfaction of all covenants and conditions precedent for future funding, and a CAD$:US$ exchange rate of $1.25 for unfunded US dollar denominated financing commitments. (all amounts in millions of C$) Sources of Funds Stream Deposits not yet received(2) 213 Senior Loan Facility, Tranche A 100 Cost Overrun Facility(3) 48 Equipment Financing Facility(4) 17 Undrawn Sources of Funds As of July 31, 2015, Stornoway forecasts excess financing capacity available to complete the project of approximately $101 million comprised of $53 million of cash, receivables and expected mine tax credits and $48 million of undrawn cost overrun facilities(5).
  • 31. 3131 Appendix 1: Stornoway’s C$946M Project Financing for Renard
  • 32. 32 Renard Project Financing Transaction Structure Type Amount (% of Total) Description Common Equity C$374M (40%) • C$132M marketed public equity offering of subscription receipts • C$242M private placement to Orion (US$110M), RQ (C$100M) and Caisse (C$22M) Diamond Stream US$250M (29%) • 20% diamond stream (Orion 16%, Caisse 4%) with ~US$56/ct(1) ongoing payment Convertible Debentures US$81M (9%) • Provided by Orion; 7 year, 6.25% coupon, 35% conversion premium to equity issue price Senior Debt C$120M (11%) • Provided by IQ; 7 year amortizing payment, Fixed (QC Bond)+5.75% or Prime +4.75% Equipment Financing US$35M (4%) • Provided by Caterpillar Cost Overrun Facility C$48M (5%) • C$20M provided by IQ (same terms as senior debt) • C$28M provided by Caisse (unsecured, 7 year term, 10% coupon) Total C$946M (100%) Assumes US$1.00 = C$1.10 1. Includes reimbursement of marketing expenses Counter-Party Amount (% of Total) Orion Mine Finance C$367M (39%) Investissement Québec/ Ressources Québec C$240M (25%) Caisse de dépôt et placement du Québec C$105M (11%) Caterpillar Financial C$39M (4%) Public C$195M (21%) Total C$946M (100%) C$77M C$811M C$946M C$70M C$67M Financing Funding Requirements New Financing Existing Financing C$48M COF & C$27M Working Capital Financing Costs & Interest During Construction Renard Mine Road Initial Capex & Escalation Allowance
  • 33. 33 Renard Stream Highlights The World’s First Diamond Streaming Arrangement As a component of the Renard Project Financing, Stornoway concluded a streaming arrangement in the Renard Project with the CDPQ and Orion Mine Finance. The streamers have the right to purchase 20% of the LOM production from R2, R3, R4, R9 and R65 for $56/carat, escalating at 1% per annum on 3rd anniversary of commercial production. The streamers also subscribed to equity and debt. For this consideration, Stornoway received US$250million, to fund in three tranches, representing 34% of the initial capital for the project and 29% of the overall financing plan. The high operating margins of the Renard project and front-ended capital requirements make it ideally suited for a streaming arrangement. On spot C$:US$ exchange, the effective cash cost per carat of the project is lower today than in the January 2013 Optimized Feasibility Study, which assumed a parity dollar, even with consideration of the stream. Notes 1. Average over 11 Year Mineral Reserve Case, Nominal Terms. 2. Shows the impact of a US$1.00 = C$1.25 exchange rate compared to the US$1.00 = C$1.00 rate utilized in the January 2013 Optimization Study $58.92 $5.04 $20.43 $76.63 $7.76 $58.92 OS Jan 2013 LNG OS Oct 2013 Stream Exchange Rate Cash cost/ct Effective Project Cash Cost, Before and After Stream (US$/ct)1
  • 34. 3434 Appendix 2: Renard Technical Data
  • 35. 35 Renard Diamond Project NI 43-101 Mineral Resource Estimate Effective September 24 2015. Changes to Previous Estimate Shown in Italics Notes 1 Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. 2 Totals may not add due to rounding. 3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off. 4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual Information Form dated July 2015). Indicated Mineral Resources(1,2,4) Contained Carats (millions) Tonnes (millions) Grade (cpht)(3) Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4% Renard 2, w/o CRB-2A, CRB 20.39 +11.0% 20.52 +15.9% 99 -4.3% CRB-2A 0.29 +2.6% 0.90 +2.6% 32 -- CRB 0.90 n/a 4.28 n/a 21 n/a Renard 3 1.86 +2.3% 1.82 +3.4% 102 -1.0% Renard 4 4.44 +3.0% 7.25 -- 61 +3.0% Renard 65 2.30 -- 7.87 -- 29 -- Total Indicated Mineral Resources 30.17 +11.4% 42.63 +20.2% 71 -7.4% Inferred Mineral Resources(1,2) Contained Carats (millions) Tonnes (millions) Grade (cpht)(3) Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2% Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9% CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5% Renard 3 0.61 -- 0.54 -- 112 -- Renard 4 2.46 +3.5% 4.75 -- 52 +3.5% Renard 65 1.18 -- 4.93 -- 24 -- Renard 9 3.04 -- 5.70 -- 53 -- Lynx 1.92 -- 1.80 -- 107 -- Hibou 0.26 -- 0.18 -- 144 -- Total Inferred Mineral Resources 13.35 -20.8% 24.49 -17.5% 54 -4.0% Inferred Mineral Resources Indicated Mineral Resources High Range TFFE Renard 65 775m depth Renard 4 775m depth Renard 9 775m depth Renard 2 1,250m depth Renard 3 1,250m depth North East View
  • 36. 36 Renard Diamond Project Exploration Potential Effective September 24 2015. Changes to Previous Potential Shown in Italics Notes 1 Target for Further Exploration: represents potential upside that can be reasonably assumed given the nature and grade of material within the current 2015 Mineral Resource. The Renard 2 shape has been projected 250m below the deepest kimberlite intersection at 1,000m depth. Tonnage and grade ranges are not directly applicable to potential total carats.The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off. Notes Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. Area indicated in yellow represents a gap in drill coverage that may represent additional exploration potential outside of the current Mineral Resource Estimate and not included in the current Targets for Further Exploration. Renard 65 775m depth Renard 4 775m depth Renard 9 775m depth Renard 2 1,250m depth Renard 3 1,250m depth Targets for Further Exploration(1) Contained Carats (millions) Tonnes (millions) Grade (cpht)(2) Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100 Renard 3 3.6 to 6.4 3.4 to 3.8 105 to 168 Renard 4 5.6 to 11.9 11.1 to 15.4 50 to 77 Renard 65 7.3 to 13.5 29.0 to 40.9 25 to 33 Renard 9 2.0 to 4.3 3.9 to 6.3 52 to 68 Lynx 3.0 to 3.8 3.1 to 3.2 96 to 120 Hibou 2.8 to 4.4 2.7 to 2.9 104 to 151 Total TFFE 27.8 +8% to 59.7 +25% 59.3 +9% to 88.0 +17% Inferred Mineral Resources Indicated Mineral Resources High Range TFFE North East View
  • 37. 37 Renard 2 Geological Model and Unit Grades Effective September 24 2015. Changes to Previous Estimate Shown in Italics Within the Indicated Mineral Resources Average Grade (cpht)(1) Average Dilution (%)(2) Kimb 2a (“Blue”) 76 +3.0% 52 -0.9% Kimb 2b (“Brown”) 145 +1.0% 30 -0.9% Kimb 2c (HK)3 229 +0.5% 12 -3.1% CRB-2a 32 -- 93 -- CRB 21 n/a 96 n/a Within the Inferred Mineral Resources Average Grade (cpht)(1) Average Dilution (%)(2) Kimb 2a (“Blue”) 67 -2.4% 65 +9.2% Kimb 2b (“Brown”) 145 +0.3% 30 +1.5% Kimb 2c (HK)3 229 +0.5% 12 -3.1% CRB 21 +10.5% 96 -- Notes 1 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off. 2 Represents the average amount of non-diamond bearing country rock estimated within each geological unit. 3 The Kimb 2c (Hypabyssal Kimberlite, or “HK”) unit is a constituent component of each of the Kimb2a, Kimb2b, CRB and CRB-2a units. Renard 2 Average Mineral Resource Grades, by Geological Unit Kimb2b (“Brown”) Kimb2a (“Blue”) CRB CRB-2a Kimb2c (HK) West View Contact Pinch in model in area lacking drill coverage 0m 700m 850m 1250m INDICATED INFERRED TFFE 600m: Base of Previous Indicated Mineral Resources Depth Below Surface North View Photographs of geological units from the 2007 Renard underground bulk sample program
  • 38. 38 Renard 2 Geological Model and Renard 2-Renard 3 Convergence Effective September 24 2015 Pipe shape at surface (1.89ha) Kimberlite outline at surface (0.75ha) Kimb2b (“Brown”) Kimb2a (“Blue”) CRB CRB-2a Surface View, Looking Down Surface View, Looking Down 0m 700m 850m 1250m R2 INDICATED R2 INFERRED R2 TFFE Depth Below Surface R3 INDICATED R3 INFERRED R3 TFFE North East View Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Renard 2 Renard 3 Renard 2 Renard 3 126.6m R3 intersection in DDH R2- 81J (in red) starting 942.2m downhole: 47m true width. R3 TFFE: >500m potential between drill intersections
  • 39. 39 Chronology of Renard Studies Feasibility Study Released on November 16th 2011. NI 43-101 Technical Report filed December 29 2011. 11 Year Mine Plan based on 18 Mcarat Mineral Reserve derived from January 2011 NI 43-101 Resource. Long Term Business Plan Companion study to the Feasibility Study with an extended mine plan incorporating the project`s 17.5 million carats of Inferred Mineral Resources. Basis of overall mine design and project permitting. Not part of the project`s public disclosure, consistent with Canadian reporting standards Optimization Study Released on January 28th, 2013. NI 43-101 Technical Report filed March 2013. Refined of Feasibility mine design, including shaft deferral and a modified underground mining sequence. 11 Year Mine Plan based on 17.9 million carat Mineral Reserve. Resource Update Released July 2013. NI 43-101 Resource update with 14% increase in Indicated Resource contained carats LNG Feasibility Study Released October 2013. Modified project Cap-ex and Op-ex for LNG powered gen-sets Resource Update Released September 2015. NI 43-101 Resource update with 11% increase in Indicated Resource contained carats
  • 40. 40 January 2013 Optimization Study Project Assumptions, Valuation and Pay-Back in the January 2013 FS Optimization Study Key Assumptions in the Financial Model1 Mining Parameters Reserve Carats (M) 17.9 Tonnes Processed (M) 23.8 Recovered Grade (cpht) 75 Average Ore Recovery (%) 82.9% Average Mining Dilution (%) 17.9% Dilution Grade (cpht) 0 Processing Rate (Mtonnes/annum) 2.2 Mine Life (years) 11 Cost Parameters Initial Cap-ex (C$M)2 $752 LOM Cap-ex (C$M)4 $1,013 Oil Price (US$/barrel)2 $95 LOM Op-ex (C$/tonne)2 $57.63 LOM Op-ex (C$/carat)2 $76.63 Revenue Parameters Gross Revenue (C$M)2 $4,268 Marketing Costs 2.7% DIAQUEM Royalty 2.0% Cash Operating Margin (C$M)2 $2,693 % Operating Margin 67% Income Tax, Mining Duties and IBA Payments (C$M)1 $625 After Tax Net Cash Flow (C$M) $1,084 Diamond Price Parameters3 Renard 2 and Renard 3 (US$/carat) $182 Renard 4 (US$/carat) $164 Diamond Price Escalation 2.5% Exchange rate 1C$=1US$ Schedule Parameters6 Effective Date for NPV Calculation Jan. 1 2013 Construction Mobilization/Early Works Aug. 1 2013 Plant Commissioning Commences Dec. 1 2015 Commercial Production Declared Jun. 1 2016 Valuation Results5 (C$m) Pre-Tax After Tax NPV5% $894 $537 NPV7% (Base Case) $683 $391 NPV9% $514 $274 IRR 20.4% 16.3% Pay-Back (years) 4.69 4.82 Notes 1. Optimization Study, released January 28th 2013. 2. Expressed in October 2012 terms. 3. Expressed in May 2011 terms. 4. Expressed in nominal terms. 5. Expressed in de-escalated nominal terms. 6. Schedule parameters are based on the schedule in the Optimizaton Study, released on January 28th 2013. For revised schedule, please see our AIF dated July 27th, 2015.
  • 41. 41 Probable Mineral Reserve Mining Recovery Factors Utilized in the Reserve Calculation Kimberlite Grade (cpht) Tonnes (millions) Contained Carats (Millions) Internal Dilution Mining Recovery Mining Dilution Renard 2 OP 95 1.31 1.24 0.0% 96.0% 7.1% Renard 2 UG 80 17.03 13.62 7.0% 82.4% 20.2% Renard 3 OP 93 0.72 0.67 0.0% 96.0% 10.5% Renard 3 UG 84 1.00 0.84 21.1% 85.0% 14.0% Renard 4 UG 42 3.72 1.58 1.4% 78.2% 14.0% Total 75 23.79 17.95 5.9% 82.9% 17.9% Notes: Reserve categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Totals may not add due to rounding. Grades are estimated at a +1DTC sieve size cut-off. R2 , 83% R3, 8% R4, 9% Revenue R2 , 77% R3, 7% R4, 16% Tonnage R2 , 83% R3, 8% R4, 9% Carats NI 43-101 Probable Mineral Reserves January 28th 2013
  • 42. 42 Liquefied Natural Gas Power Plant The November 2011 Feasibility Study and January 2013 Optimization Study both contemplated on-site power generation using traditional diesel fueled gen- sets. With a view to project optimization, in 2013 Stornoway undertook an investigation into a more cost efficient alternatives for on-site power supply. On October 21st 2013 Stornoway announced it will proceed with an LNG fuelled gen-set option, made possible by the ability to receive regular cryogenic LNG shipments on the Renard Mine Road. The Renard LNG plant will comprise seven 2.1MW rated gas gen-sets, providing sufficient power generation capacity for the project’s normal operating specification of 9.5MW. LNG has significant cost and environmental advantages over traditional diesel powered gen-sets and a Hydro-Québec power-line option. Diesel will continue to be used for the mobile mining fleet and construction activities.
  • 43. 43 Liquefied Natural Gas Power Plant Feasibility Study Released October 2013 An LNG fuelled powerplant for Renard offers many advantages over diesel: • Greatly reduced annual operating costs of $8m to $10m per year, for a small incremental capital cost of $2.6m. • Up to 43% less greenhouse gas emissions. • stable supply market utilizing existing commercial distribution network within Québec. • Elimination of on-site propane, as LNG will be used for building and underground mine heating Cost Improvements with LNG 2013 Optimization Study with Diesel 2013 Optimization Study with LNG Unit Power Cost (C$/kWh) 1 $0.299 $0.188 (-37%) Unit Operating Cost (C$/tonne) 1,2 $57.63 $53.84 (-7%) Initial Capital Cost (C$m) 1 $752.1 $754.0 (+0.3%) Life of Mine Capital Cost (C$m) 1,3 $1,013 $1,010 (-0.3%) Annual Diesel Consumption (million litres) 27.5 5.9 (-79%) Annual LNG Consumption (thousand m3 /annum) n/a 41.7 Annual Propane Consumption (thousand m3 /annum) 3.5 n/a Notes 1. 2013 Optimization Study costs expressed in October 2012 terms. 2. Excludes capitalized preproduction costs. 3. Includes all initial, sustaining and deferred capital, contingencies and escalation Key Assumptions Based on the 11 year reserve-based mine life (17.9 mcarats) contained within the 2013 Optimization Study, with a normal operating load of 9.49MW, C$1=US$1, Oil US$95/barrel
  • 45. 45 Hume Kyle Independent Pat Godin COO & Director Matt Manson President, CEO & Director John LeBoutillier Independent/ IQ Designate Monique Mercier Independent/ IQ Designate Peter Nixon Independent Ebe Scherkus Independent/ Board Chairman Executive Officers Non-Executive Directors Key Managers Head Office: Longueuil, Québec Exploration Office: North Vancouver, BC Community Offices: Mistissini & Chibougamau Québec Stornoway’s Board and Management Team Serge Vézina Independent Yves Perron VP Engineering & Construction Ghislain Poirier VP Public Affairs Brian Glover VP Asset Protection Martin Boucher VP Sustainable Development Robin Hopkins VP Exploration Orin Baranowsky Director, IR Douglas Silver Orion Designate Ian Holl VP Processing Annie Torkia- Lagacé VP Legal Affairs Gaston Morin Independent/ IQ Designate Jean-Charles Dumont VP Finance Helene Robitaille Director, HR
  • 46. 46 Pat Godin COO & Director Biographies Ebe Scherkus Chairman of the Board Matt Manson was appointed President of Stornoway Diamond Corporation in March 2007 and subsequently President & CEO in January 2009. Between 1999 and 2005 he was employed by Aber Diamond Corporation (now Dominion Diamond Corporation) as VP Marketing and subsequently VP Technical Services & Control, during which time he participated in the US$230m project financing for the Diavik Diamond Project and oversaw Aber's technical and marketing operations. In March 2015 he was awarded the Viola MacMillan award from the Prospectors and Developers Association of Canada for the financing and development of Stornoway’s Renard Diamond Project. Mr. Manson is a graduate of the University of Edinburgh (BSc Geophysics, 1987) and the University of Toronto (MSc Geology 1989 and PhD Geology, 1996), and has over 20 years of experience in diamond exploration, development and production. Pat Godin joined Stornoway as COO in May 2010. He was previously VP, Project Development for GMining Services, responsible for the development of the Essakane Mine in Burkina Faso under contract to IAMGOLD, VP Operations for Canadian Royalties, and President and General Manager of CBJ-CAIMAN S.A.S., a French subsidiary of Cambior / IAMGOLD. For many years, he was involved in Cambior’s various Canadian properties in Abitibi-Témiscamingue, through progressive management positions in project development and mine management. He holds a bachelor’s degree in mining engineering from Université Laval in Québec and is a member of the “Ordre des Ingénieurs du Québec”. He is the Chairman of the Board of Geomega Resources. Ebe Scherkus served as the President and Chief Operating Officer and a director of Agnico-Eagle from 2005 to February 2012. Prior to his appointment as President and Chief Operating Officer in December 2005, Mr. Scherkus served as Executive Vice-President and Chief Operating Officer from 1998 to 2005, as Vice-President, Operations from 1996 to 1998, as a manager of Agnico Eagle LaRonde Division from 1986 to 1996 and as a project manager from 1985 to 1986. Mr. Scherkus is a graduate of McGill University (B.Sc.), a member of the Association of Professional Engineers of Ontario and past president of the Québec Mining Association. Matt Manson President, CEO & Director
  • 47. 47 Stornoway Diamond Corporation TSX:SWY Head Office: 1111 Rue St. Charles Ouest, Longueuil, Québec J4K 4G4 Tel: +1 (450) 616-5555 IR Contact: Orin Baranowsky, CFA, Director IR obaranowsky@stornowaydiamonds.com Tel: +1 (416) 304-1026 x103 www.stornowaydiamonds.com Info@stornowaydiamonds.com