Tahera Gains a Backer

Article Excerpt

TAHERA DIAMOND CORP. $1.14 (Toronto symbol TAH; SI Rating: Start-up) (1-877-777- 2004; www.tahera.com; Shares outstanding: 156.3 million; Market cap: $178.2 million) has completed the sale of 30 million units to Teck Cominco at $1.00 per unit. The units are comprised of 30 million common shares and 22.1 million common share purchase warrants, exercisable at prices between $1.20 and $1.50 in 2007, 2008 and 2009. Teck will now hold a 16% interest in Tahera. That will increase to 24.9% if all the warrants are exercised. Teck will also nominate one member to Tahera’s board of directors, and have the right to maintain its percentage interest in Tahera’s common shares. Tahera will use the funds to improve operations at its Jericho mine. Teck Cominco will also provide Tahera with mining and other technical advice and assistance in connection with the Jericho mine. Tahera is now a buy. buy…

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