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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Comment by Macloud1on Mar 03, 2017 10:00am

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Post# 25926007

RE:RE:RE:RE:RE:RE:Re: Commercial Production

It is a cost overun facility and is freed up upon achieving commercial production. This is from a press release 18 February 2015.

"The Offering is expected to increase the number of issued and outstanding Common Shares by approximately 17.54%. 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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