Shore Gold Inc. announces second quarter results

About this update from Star Diamond Corporation

[{"type":"text","content":"\n\n\nStock Symbol: SGF: TSX\n\n\nSASKATOON, Aug. 6, 2013 /CNW/ - Shore Gold Inc. (\"Shore\" or the\n \"Company\") reports that the unaudited results of Shore's operations for\n the quarter ended June 30, 2013 will be filed today on SEDAR and may be\n viewed at www.sedar.com once posted. A summary of key financial and operating results for the\n quarter is as follows:\n\n\nHighlights \n\n\n\nPrepared and submitted responses for comments and information requests\n on the Revised EIS that were received from regulators\n\n\nContinued to seek opportunities for development capital through\n participation in the Project by a third party or a syndicate of\n investors\n\n\nWorking capital of $5.8 million at June 30, 2013\n\n\nIssued and outstanding shares of 224,739,242 at June 30, 2013\n\n\n\nOverview\nDuring the second quarter of 2013, the Company's main focus was working\n on the preparation of the final Environmental Impact Statement (\"EIS\")\n for the Star - Orion South Diamond Project (\"Project\") and continuing\n to seek opportunities for development capital for the Project. The\n Company has completed a National Instrument (\"NI\") 43-101 compliant\n Technical Report (\"Feasibility Technical Report\") documenting the\n Feasibility Study and Mineral Reserve for the Project (\"Feasibility\n Study\"), the results of which were announced in July 2011 (See SGF News\n Release dated July 14, 2011). The Feasibility Study includes a cash\n flow model Base Case net present value (\"NPV\") of $2.1 billion (using a\n 7 percent discount rate) for an Internal Rate of Return (\"IRR\") of 16\n percent before taxes and royalties and an after-taxes and royalties NPV\n of $1.3 billion with an IRR of 14 percent. The full details of the\n Feasibility Technical Report can be viewed on the Company's website (www.shoregold.com) or on SEDAR (www.sedar.com).\n\n\nThe Revised EIS, which describes the potential environmental and\n socio-economic effects of the Project, was submitted to Provincial and\n Federal regulators on August 10, 2012 (See SGF News Release dated\n August 10, 2012). The Saskatchewan Ministry of Environment (\"Ministry\")\n is the lead agency on behalf of the Province and the Canadian\n Environmental Assessment Agency (\"CEAA\") is the lead agency for the\n Federal government, which are jointly conducting the environmental\n assessmen...

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