, 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 Inc., the premier retailer
of diamond jewelry.
SOURCE Aber Diamond Corporation