Louisiana’s Construction Budget Worries Lessen


Readers are referred to the technical report dated December 29th, 2011 in respect of the November 2011 Feasibility Study for the Renard http://www.ihireconstruction.com Diamond Project, and the technical report dated February 28th, 2013 in respect of the January 2013 Optimization Study, for further details and assumptions relating to the project. About Stornoway Diamond Corporation Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec’s first diamond mine. Stornoway is a growth oriented company with a world class asset, in one of the world’s best mining jurisdictions, in one of the world’s great mining businesses. On behalf of the Board STORNOWAY DIAMOND CORPORATION Matt Manson, President and http://www.ihireconstruction.com Chief Executive Officer This press release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995.

The project will be completely funded by private donations, continuing a trend to give the campus a face-lift without use of state General Fund dollars. So far, UK has raised more than $45 million for the business school update. The work will expand the building by 40 percent, adding a 500-seat auditorium, 20 classrooms, study rooms, a special events hall and an atrium in a new main entrance. Work is expected to be finished in the spring of 2016. The flurry of construction work at UK follows legislative action this year that authorized building projects at public universities across Kentucky.

UK unveils next round of construction

At the start of the year, Louisiana was teetering so close to its debt cap that Treasurer John Kennedy said the state’s pool of money to pay for ongoing construction projects was running dry and there was little room to borrow more. Nichols said the situation never was as dire as it had been described. But both the treasurer’s office and Gov. Bobby Jindal’s administration agreed this week that the state has the wiggle room to borrow again, to replenish the construction fund. Kennedy, however, framed it as an improved situation, but one that will keep the state hovering near its debt cap for years. “We’re better, but we’re not well.


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