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T O P I C     R E V I E W
TradingWizard  - posted
Tahera Corporation: First Quarter Report

TORONTO, May 4, 2004 /PRNewswire-FirstCall via COMTEX/ -- (PR NewsWire)

Tahera Corporation remains highly focused and committed to developing its wholly-owned Jericho Diamond Project as Nunavut's first diamond mine. Tahera is targeting completion of both permitting and project financing initiatives during 2004, and plans to advance the Jericho Project to commercial production as quickly as possible. During the Jericho Mine development phase, Tahera will continue to be an active diamond explorer as previous exploration activities indicate that the Company's properties have high potential for further kimberlite discoveries.

Jericho Diamond Project

Tahera achieved significant progress with respect to permitting its Jericho Diamond Project during the first quarter. The final environmental hearing was conducted in January 2004, and in February 2004, the Nunavut Impact Review Board (NIRB) issued a report recommending approval of the project. The NIRB approval represents a major milestone regarding development of the project as Nunavut's first diamond mine, and Tahera is committed to working with all stakeholders to satisfy the terms and conditions outlined in the NIRB report as it develops the Jericho Diamond Project.

The NIRB recommendation was forwarded to the Minister of Indian and Northern Affairs Canada in February 2004 for federal approval. Tahera anticipates a federal decision with respect to approval of the Jericho Diamond Project during the second quarter.


Tahera mobilized its spring exploration program in May 2004. The program will entail detailed geophysical surveys and prioritization of kimberlite targets on both the Jericho Claims and the Hood River Property. Dependant on equipment availability, drilling of the priority kimberlite targets may be conducted in late May, or alternatively during the summer program.

The recently discovered diamondiferous kimberlite dyke that lies 9 kilometres south of the Jericho pipe will be further evaluated to determine its extent and economic potential during the program, and several other areas that are prospective for kimberlite discovery will be assessed and prioritized. Tahera's Jericho Claims exploration programs are intended to identify new economically viable kimberlites which would provide additional feed to the Jericho plant and thereby extend the mine life.

Exploration on the Hood River Property is the first program undertaken in this area since early 2001. The Hood River Property hosts the diamondiferous Tenacity kimberlite discovered in 2000. Ground geophysical grids will be completed over specific target areas, followed by prioritization of kimberlite targets.


Subsequent to the quarter end, Tahera made a significant addition to its management team with the appointment of Mr. Dan Johnson as Executive Vice President, Operations. Mr. Johnson (P. Eng., MBA) is a seasoned mining executive with extensive experience in mine development and operations in remote locations. Mr. Johnson was employed with BHP Billiton PLC for 16 years from 1981 to 1997, where he worked in various senior management positions throughout the world. His last position with BHP until 1997 was as Project Manager, Mine Development for BHP Diamonds where he was responsible for all aspects of the development, engineering and construction of the Ekati mine, Canada's first diamond mine. Mr. Johnson will oversee all of the construction activities with respect to the Jericho Diamond Project.

Tahera also made a significant addition to its board with the appointment of Mr. Andrew Adams as a director of the Company. Mr. Adams is a financial executive with 25 years of international experience in the natural resource sector. He was employed as Vice President and Chief Financial Officer of Aber Diamond Corporation from 1999 to 2003 where he was responsible for all of Aber's financial and administrative activities including the funding of that company's US$400 million capital commitment to the Diavik diamond project. The credentials and experience of Mr. Adams in financial matters and the diamond business make him an excellent fit for Tahera's Board.

2004 First Quarter Results

At March 31, 2004, Tahera's cash balance was $13,836,000. Tahera has no long-term debt following the conversion of a $2.8 million secured convertible debenture in March 2004. In addition to being completely debt free following this conversion, Tahera will benefit from the elimination of the remaining interest payments and the release of the Jericho project security.

The Company recorded a loss of $581,000 ($0.001 per share) for the quarter ended March 31, 2004, which compares with a loss of $529,000 for the quarter ended March 31, 2003 ($0.002 per share). Operating expenses increased moderately to $632,000 for the quarter ended March 31, 2004 compared to $521,000 for the quarter ended March 31, 2003.

Click here for additional information

SOURCE Tahera Corporation

Tahera Corporation, Grant Ewing - Executive Vice President, Corporate Development; Investor Relations, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free: (877) 777-2004, Email: (TAH.)


TradingWizard  - posted
Tahera is quite low now 0.28
May be good buy (like always do your DD)
They have the diamonds, they are debt free, just it takes time to actually produce them.
TradingWizard  - posted
TAH slowly creeping up, today high as 0.31.
They are getting closer to production schedule.
TradingWizard  - posted
Today high 0.32 (slowly creeping up again).

'Alone we can do so little; together we can do so much.' - Helen Keller

TradingWizard  - posted
Yesterday hit as high as 0.34....its probably the federal approval news and price of gold is driving it up.

'Alone we can do so little; together we can do so much.' - Helen Keller

tic_toc  - posted
.34 today. do you think its still a good price to get in at?
how much potential do you think this has?
TradingWizard  - posted
Trading at 0.35.
Looks like it is on the hype for some reason in the last days.

I got in at 0.50 in my RRSP so holding losses, but I have long term faith.

I also hold some for 0.33 and 0.385 in other accounts.

I personally like this stock, and this is a good buy. It may still go down but for long term it will pay off.

These are my own opinions, do your own DD.
I like them because they have diamonds, and just waiting for that gov approval which should be no problem soon.

'Alone we can do so little; together we can do so much.' - Helen Keller

TradingWizard  - posted
Tahera Corporation announces that the Minister of Indian and Northern Affairs Canada has approved the Company's Jericho Diamond Project. This federal approval of the Jericho Diamond Project follows approval of the Project by the Nunavut Impact Review Board (NIRB) in February 2004. The NIRB will issue a project certificate for the Jericho Diamond Project in the coming weeks.

Tahera is very pleased to have achieved this significant milestone in the diamond mine development process. Tahera can now proceed with finalizing the required permits and authorizations for the Project, including the water permit and land leases. The Company anticipates completing these requirements during 2004, allowing sufficient time to meet Tahera's goal of commencing project construction in early 2005.

Tahera has now successfully completed the environmental assessment process for the Jericho Diamond Project, and finalized an Inuit Impact Benefit Agreement with the Kitikmeot Inuit Associa! tion that outlines Inuit participation in the Project, paving the way for development of Nunavut's first diamond mine.

About Tahera Corporation

Tahera Corporation (, a unique Canadian diamond Company, is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton. The common shares of the Company trade on the TSX under the symbol 'TAH'.

%SEDAR: 00003313E

and CEO, Grant Ewing - Executive Vice President, Corporate Development,
Investor Relations: Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free:
(877) 777-2004, Email: investor_relations(at)

News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2004 CNW, All rights reserved

'Alone we can do so little; together we can do so much.' - Helen Keller

tic_toc  - posted
to the future
TradingWizard  - posted
Nice come back today. High 0.405.

'Alone we can do so little; together we can do so much.' - Helen Keller

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