Tahera gets extenended protection
by Jo Black
Tahera Diamond Corporation has received an extension to its previously announced stayed period under the Companies’ Creditors Arrangement Act (CCAA). The court approved extension is now in place until June 30, 2008. During this time the company will continue to pursue financing alternatives and possible corporate transactions.
As previously announced, mining was suspended at the Jericho Mine on February 6, 2008 to conserve cash and fuel inventory while restructuring efforts are ongoing. Processing of ore will continue for approximately two months or until stockpiles are depleted. The future operations at the Jericho mine will continue to be assessed in the context of the overall corporate restructuring.
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