Canadian mining company Shear Minerals will now be known as Shear Diamonds Ltd., a name it says better reflects its current focus on diamond exploration.
The name change took effect in November following shareholder approval of share consolidation—one new common share will be traded for every 10 common shares previously issued. The trading symbol on the Toronto Stock Exchange (TSX) remains SRM.
Shear recently acquired the Jericho diamond mine in Nunavut for $38 million from bankrupt Tahera Diamond Corp. According to some news reports, Shear plans to start drilling in the existing open pit this summer.
