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Wawa diamond digger gets $30-million line of credit

Dianor Resources has secured a $30 million equity line of credit from Kodiak Capital Group LLC of New York to advance bulk sampling in their search for big, economical diamonds at Wawa.
Northern Ontario Business Staff

Dianor Resources has secured a $30 million equity line of credit from Kodiak Capital Group LLC of New York to advance bulk sampling in their search for big, economical diamonds at Wawa.

The Val d'Or junior miner's flagship project is its Leadbetter diamond project in northeastern Ontario.

In a March 3 announcement, Dianor CEO John Ryder called the line of credit a "vote of confidence" in their diamond properties and in the progress of the project.

"In this challenging financial times, especially for junior exploration companies, Kodiak has stepped up to the plate and committed to our diamond projects,
The company announced last May it had secured provincial approval to proceed with a 50,000-tonne bulk sampling program to recover diamond, rubies, sapphires and gold.