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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 Oct 06, 2017 3:42pm
152 Views
Post# 26787469

RE:RE:RE:RE:RE:RE:RE:Let's put those 16,000,000 shares to rest.

RE:RE:RE:RE:RE:RE:RE:Let's put those 16,000,000 shares to rest.Mac, thank you.  I did not know of the first of the two exemptions previously.  I now know they can continue open market purchases, according to this source, but are limited to 5% of shares outstanding per year, without making a formal takeover bid for the entire company... here is what I saw as the key provision in Canadian takeover law (which was been adjusted in 2016):  "...Under both the current and new regimes, any purchase in the market that takes a shareholder above 20% ownership of the target company requires the bidder to make a formal take-over bid to all the target’s shareholders on identical terms, subject to two key exceptions to the formal take-over bid rules. The first is the de minimis exemption that permits a shareholder to acquire shares in excess of the 20% threshold through purchases of up to 5% annually at market prices. The second is the private agreement exemption whereby a shareholder may acquire shares in excess of the 20% threshold by way of a private agreement with no more than five sellers, subject to a price limit of 115% of the market price of the shares."

https://www.canadianmergersacquisitions.com/2016/02/26/canadas-new-take-over-bid-rules-seek-to-level-the-playing-field/

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