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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 Sep 21, 2016 9:05am
164 Views
Post# 25259817

RE:Let MPV stand as an example

RE:Let MPV stand as an exampleFactsR, it is helpful for a company to have, in addition to a fairly loyal shareholder base,  a significant holder willing to backstop the rights offering when it is used, as in MPV's case, to raise additional funds (in this case, for the cost overrun facility).  I do recall some grumbling in this thread at the Rights terms a couple of years ago, but not a wholesale uprising.   I'm sure the "smoothness" of the Rights offering for a not insubstantial amount (C$95mm) was instrumental in negotiating more favorable terms for the otherwise major funding with the consortium of banks.

...and yes, it is now a profitable Rights offering to those who could take advantage of it.

Cheers.
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