Aber Diamond Corporation - Diavik Mine Plan Update
April 17 2006 - 6:35PM
PR Newswire (US)
TORONTO, April 17 /PRNewswire-FirstCall/ -- ABER DIAMOND
CORPORATION (TSX-ABZ, NASDAQ-ABER) reports that the operation of
the Winter Road that services various mining and exploration
operations located northeast of Yellowknife, including the Diavik
Mine, was suspended earlier than anticipated due to deteriorating
ice conditions resulting from unseasonably warm temperatures. It is
anticipated that sufficient fuel is on hand to support the project
until the next winter road delivery considering the reduced
consumption due to the mild winter. Stripping capacity has been
temporarily reduced due to the inability to deliver the heavier
components of a large excavation shovel via the Winter Road.
Alternative methods of transport for this and other bulk supplies
are available and are being evaluated. The Company retains its
earlier production forecast of 8.5 million carats for the coming
year subject to actual performance of transportation alternatives.
Production from current reserves is expected to exceed 10 million
carats in calendar year 2007, with production coming solely from
the higher grade A-154 South pipe. The increase in Aber's share of
the Diavik Mine capital expenditures for calendar years 2006 to
2010 is estimated to be less than 4% and the impact to Aber's share
of operating and exploration costs for calendar 2006 is an
estimated increase of 5%. Information in this news release that is
not current or historical factual information may constitute
forward-looking information or statements within the meaning of
applicable securities laws. Implicit in this information,
particularly in respect of statements as to future operating
results and economic performance of Aber, and resources and
reserves at the Diavik Mine, are assumptions regarding projected
revenue and expense, diamond prices and mining costs. These
assumptions, although considered reasonable by Aber at the time of
preparation, may prove to be incorrect. Readers are cautioned that
actual results are subject to a number of risks and uncertainties,
including risks relating to general economic conditions and mining
operations, and could differ materially from what is currently
expected. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. About Aber
Aber Diamond Corporation is a specialist diamond company focusing
on the mining and retail segments of the diamond industry. The
Company supplies rough diamonds to the global market through its
40% ownership in the Diavik Diamond Mine, located off Lac de Gras
in Canada's Northwest Territories. Aber also holds approximately a
53% interest in Harry Winston Inc., the premier retailer of diamond
jewelry. DATASOURCE: Aber Diamond Corporation CONTACT: Robert A.
Gannicott, Chairman and Chief Executive Officer - (416) 362-2237;
Amir Kalman, Director, Investor Relations - (416) 362-2237 (ext.
244)
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