Mountain Province Diamonds Inc T.MPVD

Alternate Symbol(s): MPVDF

Metals & Mining Industrial Metals & Minerals

Mountain Province Diamonds Inc. is a Canada-based diamond company. The Company’s primary asset is its 49% interest in the Gahcho Kue Mine, a Joint Venture with De Beers Canada. The Gahcho Kue Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company’s Kennady North Project includes approximately 113,000 hectares of claims and leases surrounding the Gahcho Kue Mine that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites. Kelvin is estimated to contain 13.62 million carats (Mct) at 8.50 million tons (Mt) at a grade of 1.60 carats/ton and a value of US$63/carat. Faraday 2 is estimated to contain 5.45Mct in 2.07Mt at a grade of 2.63 carats/ton and a value of US$140/ct. Faraday 1-3 is estimated to contain 1.90Mct to 1.87Mt at a grade of 1.04 carats/ton and a value of US$75/carat.

TSX:MPVD - Post by User

Mountain Province Diamonds Inc > News revolving line of credit reduced

<< Previous

Bullboard Posts

Next >>

Comment by claymore55on Jul 14, 2020 3:58pm

254 Views

Post# 31267271

RE:RE:RE:News revolving line of credit reduced

Yes, I saw that. My point is the banks will not be overly zealous in sticking with that deadline. MPVD has a market value of about $63 million and a debt load of about $480 million. There is not much to be gained if anythng in a foreclosure. As long as the Company & DD are making progress, the banks will be flexible.

We can assume (and hope) that DD has been pulling out all stops in order to secure new financing.
Since he has about $200 million sunk into MPVD, I don't see him giving up very easily. Then again., there are no guarantees on any of this.

<< Previous

Bullboard Posts

Next >>

Rich TV Live's Stocks to Watch this week (July 19, 2024)