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

Bullboard Posts

Post by ljones1on Jun 23, 2010 1:41pm

468 Views

Post# 17214943

Salman Partners - buy MPV - Chinese demand

from today's Morning Note:

Diamonds
Chinese diamond demand could reach the same level as the U.S., says De Beers
De Beers Managing Director, Mr. Gareth Penney, stated that Chinese diamond demand could reach the same level as the U.S., which is largest consumer in the world, in the next decade, according to Mining Weekly this morning. Mr. Penney also noted that, “What we’re now seeing, with China growing as rapidly as it is [is] double-digit growth compounded over a
period of five years. We think you’ll see greater China, including Hong Kong, at not dissimilar levels overall [to the U.S.] …about a third of world demand in about ten years time.” Mr. Penney also noted that 20 years ago, hardly any Chinese brides received engagement rings, but now nearly half of the couples getting married in the eastern seaboards cities of Beijing, Shanghai and Guangdong were buying them.
On the supply side, Mr. Penney believes that diamond supply is likely to decline in the future, “These great mines that were discovered ten, 20, 30 years ago are not being replaced today. According to the data that is out there, we’re going to see some significant declines in diamonds.”
Given the positive outlook for diamond supply/demand fundamentals we recommend that investors buy the shares of Mountain Province Diamonds Inc. (MPV – TSX; Cdn$2.41; BUY) which is at the feasibility stage, with its partner DeBeers, at the Gahcho Kué diamond project in Northwest Territories, Canada.