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Mountain Province Diamonds Inc T.MPVD

Alternate Symbol(s):  MPVDF

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

Post by chartroomon Nov 22, 2006 1:15pm
273 Views
Post# 11729748

Court case update - Nov 22

Court case update - Nov 22The court between DeBeers Canada vs. MVEIRB was heard yesterday. The female judge wasn't very technical on mining industry, interrupted DB few times to clarify some point of views. DeBeers had 1 lawyer with soft voice verus MVEIRB had a 3-lawyer legal team with strong & swank attitude. DeBeers was using Paramount Resources in Alberta as example as similar issue. DB agrees on POINT A, B, C, D in the MVEIRB manual; According to POINT E, this project SHOULD NOT BE NECESSARY to EIR. MVEIRB was suggesting that they have the authority to make such decision and asked the court NOT to do their job. After the case, chartroom believe MVEIRB has a stronger case, but hey, i'm no law expect, just a street person to invest few dollars in MPV. The decision HAS NOT BEEN made, no further court has been scheduled. The decision will be released by statement without court.
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