Tahera Diamond shares suspended from TSX trading

Tahera's Jericho mine, which opened in 2006, ceased operations in December 2008. The federal government is now in charge of maintaining and reclaiming the mine site.(CBC)

Tahera Diamond Corp., which owns a now-defunct diamond mine in Nunavut, had its shares suspended from the Toronto Stock Exchange on Monday.

Toronto-based Tahera (TSX: TAH) voluntarily requested the trading suspension on Friday, stating in a release that no restructuring or liquidation of the company would net a return for shareholders.

However, the company says it's still working on a plan to pay off its creditors.

The trading suspension will remain in effect until further notice.

Tahera opened its Jericho diamond mine in western Nunavut in 2006, touting it as Nunavut's first and only producing diamond mine.

Tahera went into court-ordered creditor protection in January 2008, citing insufficient cash to fund operations at the Jericho mine, the company's main asset.

Operations at the mine were shut down in December, with Tahera handing over responsibility for the site to the federal Indian and Northern Affairs Department.

The company's creditor protection was recently extended until Feb. 27.