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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

Comment by dabard51on May 26, 2016 12:37pm
143 Views
Post# 24906959

RE:RE:DeBeers seems distracted

RE:RE:DeBeers seems distractedM2, I think deBeers was surprised how difficult it was to deal with MPV/Evans/TIGS in Canada when the original deal was cut, and afterwards with the deal revision and the KDI spin-out ( to legally separate the two entities).  My personal theory is that deBeers was very much accustomed to easily having its own way with its "partners" in projects.  When MPV (backed by TIGS) demanded equitable treatment in the partnership, deBeers caved,  and thus we stand.  In some sense, deBeers is the "junior" partner (despite having 51% share) because what they brought was mining and mill expertise, whereas MPV brought the scarcer commodity:  property rights.  PE earned his salary in this job, my opinion.

I have no idea how big KDI could become... obviously, they're still looking, but the scent must be in the air for them to finance work for the NI43-101 report.  The claims maps around Kennady Lake are interesting and complicated, too...
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