Mining royalty and streaming company Osisko Gold Royalties has entered into a letter of intent (LoI) to form an entity to acquire embattled diamond miner Stornoway Diamonds, which was granted creditor protection by a Quebec court on Monday.
Osisko and secured creditors would acquire “all, or substantially all, of the assets and properties of Stornoway and assume the debts and liabilities owing to the secured creditors, as well as the ongoing obligations relating to the operation of the Renard mine”.