03:50 PM EST - Tahera Diamond Corp. : while still struggling to improve operations at its Jericho mine in Nunavut, is open to acquisitions that can diversify its asset base, or even buyout offers, its chief executive said Tuesday. Peter Gillin told shareholders at the company's annual meeting that the company, which lost more than $25 million in 2006, has a plan to improve the speed and efficiency of its ore extraction. But Gillin also said the company could benefit from consolidation in the diamond mining and exploration sector. "The diamond business hasn't had the level of rationalization the other metals businesses have had. We may be open to that," Gillin said in a speech to shareholders. After the meeting, Gillin said in an interview that the diamond sector is much smaller and more fragmented than metals. "There is certainly a shortage of producing diamond mines of any sort. But there are lots of exploration companies out there," Gillin said. Tahera Diamond Corp.
shares TAH:CA are trading down two cents at $0.73.
