RE:Financing increased by 10 million
This is good news since this brings the total equity position to approximately 141,000,000. Forty seven million on October 10 , 2012, twentynine million on Nov. 18th 2013, twenty eight million on Mar 28th 2014, forty five million on June 20th 2014. According to the release below in 2011 we needed to raise 30% equity of our half of the 860,000,000 dollar cost to build the mine which is $129,000,000 dollars. Gentlemen I think we are there no more private placements . The rest can be financed trhough the bank.
Mountain Province in talks to finance diamond mine
Wed Aug 17, 2011 6:10pm EDT
By Julie Gordon
TORONTO (Reuters) - Mountain Province Diamonds (MPV.TO: Quote) is in talks with a major
Canadian bank to finance its share of the development of the Gahcho Kué diamond mine in
the country's Northwest Territories, the company's chief executive told Reuters.
Patrick Evans said he expects the joint venture with De Beers Canada will raise about $400
million in project financing through a consortium of banks.
"Mountain Province is already engaged with one of the major banks in Canada who's
expressed an interest to us to be our lead to arrange the project finance for the
development of Gahcho Kué," Evans said.
"They've indicated to us that, based on the economics of the project, they think it could
support somewhere in the order of about 70 percent project debt and about 30 percent
equity."