StornowayDiamond Corp. said July 11 that it raised total proceeds of C$82.7million from the exercise of 91,912,732 warrants at 90 cents per share prior totheir July 8 expiry.

"The funds received from this exercise will be used tocomplete the construction of the Renard project ahead of drawing upon our committed C$100million senior loan facility,"said President and CEO Matthew Manson.

Commissioning has started in June at Renard's process plant in Quebecabout eight weeks ahead of construction schedule. First ore processing isexpected to commence shortly.