TCL Asset Group Inc. to Manage Sale of Assets from Stornoway Renard Diamond Mine Site Related to Underground and Diamond Recovery Operations

Sale Features Millions of Dollars in Assets in "Red Zone" Diamond Process Recovery, Mine Hoisting Operations, Underground/Surface Electrical Support & Related, FAR Surface Infrastructure, Rolling Stock as well as Site-Related Machinery and Inventory

JAMESIE, QC, June 24, 2025 /PRNewswire/ - TCL Asset Group Inc. is pleased to announce that it has been awarded the contract to manage the sale of surplus assets from Stornoway Diamonds (Canada) Inc.'s Renard Diamond Mine Site (Renard Mine).

The site is located approx. 800 km north of Montreal, Quebec in the James Bay region. The Renard Mine is one of only five diamond mines in Canada, and the only diamond mine in the Province of Quebec. In 2023, Deloitte Restructuring Inc. was appointed by the Superior Court of Québec as monitor in the CCAA proceedings of Stornoway. The mine was placed in care and maintenance in March 2025.

TCL will be conducting a Liquidation of the Diamond Recovery Facility and Tomra Sorting System over the course of the next six months through Private Negotiated Sales. Concurrently, TCL will hold an Online Auction scheduled for August/September 2025. Assets available during the Online Auction include rolling stock, underground substations, switch gear, pumping stations, FAR surface infrastructure, mine hoists, inventory of wire and cable, and related underground machinery and equipment.

"This sale is a highly significant event for the underground mining industry, particularly for those involved in the diamond recovery process, as assets related to this final stage of production rarely become available on the open market. We are excited to be working with the Stornoway and Deloitte teams on this unique sales initiative." – Terrance Jacobs, CEO of TCL Asset Group Inc.

About TCL Asset Group Inc.

TCL Asset Group Inc. is a recognized leader in asset management and industrial advisory services. Founded in 1958, the company specializes in machinery and equipment certified appraisals, auctions, private negotiated sales, and real estate auctions. TCL works throughout Canada, the United States, Mexico, and Central and South America. Areas of expertise include Mining; Construction; Food and Beverage; Plastics; Pharmaceuticals; Chemical; Power and other manufacturing and service-based industries.

SOURCE TCL Asset Group Inc.