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.

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Mountain Province Diamonds Inc

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Post by ljones1on Aug 30, 2010 1:00pm

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Post# 17396018

India market is a factor...

China will overtake the US as the largest consumer of diamonds in the next decade or so. The Indian market is also growing...from Salman Partners this morning:

We also noted that New York diamond observer Rapaport had reported “very high traffic and strong trading at Mumbai show with sales significantly greater than last year”. Indeed, we suspect that much of that 11% growth forecast by Tiffany growth is more likely to come from India (already the world’s largest consumer of gold) and other Asia – Pacific countries (most notably China), than from North America. In support of this point of view, we have updated our estimate of

seasonally-adjusted sales per store in the Americas.

L.J.

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