WE NEED TO BE PATIENT JUST A LITTLE LONGERFrom the release below it is clear to me that they at least got 127 a carat or better in the second sale. They removed certain caregories of diamonds from the first sale because they did not get the price they wanted. Since they sold all the diamonds in the second sale including those from the first sale that were withdrawn i think they got a good price otherwise they would have withdrawn them from the sale. The first quarter results will be out soon and the dust will settle.
As far as needing to raise cash I think poeple are putting the cart before the horse. There are numerous sales between now and September and they have the cost overun facility with a balance of 70 million for back up because it frees up on September 30th. I really don't think they will need it.
Do you really think Bottin would be buying shares on the open market if there was a possibility of a financing coming.
PE clearly stated :
Diamond sales will continue to occur once every five weeks and all future sales results will be reported with the Company’s quarterly and annual financial results. *
Wait for the first quarter results.
Toronto and New York, March 7, 2017 – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX and NASDAQ: MPVD) today announced the completion of the second sale of Gahcho Ku diamonds at which the Company sold 277,646 carats. The Company received bids on all parcels offered, including unsold parcels carried over from the January sale, and sold all the parcels offered. The Company’s third sale of approximately 193,900 carats of Gahcho Ku diamonds is scheduled for late March 2017. Detailed results of the cumulative first quarter sales will be released with the Company’s Q1 2017 financial results. Diamond sales will continue to occur once every five weeks and all future sales results will be reported with the Company’s quarterly and annual financial results. *