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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 kimberon Jul 12, 2016 2:32pm
237 Views
Post# 25045362

Lets stroll back in time...to the Rights Offering

Lets stroll back in time...to the Rights Offeringwhere it was stated the following (below).   Notice the yellow highlight.

The Board of Directors of the Company has directed that funds raised under the Overrun Facility that may be surplus to the requirements of the US$370M term loan facility upon achievement of commercial production at the Gahcho Ku diamond mine should be used for the benefit of shareholders, which may include a future determination to return such funds to shareholders by way of a future share buyback or special dividend, as the Board may determine appropriate at such time. 
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