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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 arlekinoon Feb 09, 2018 12:14am
163 Views
Post# 27531448

Second stage -MPVD Going private

Second stage -MPVD Going private Lawman Thank you for sharing link Minimum Tender Condition Under the new take-over bid regime, an offeror must comply with the Minimum Tender Requirement. The offeror may also set a higher tender threshold where the offerors objective is to acquire all of the outstanding shares of the target company. In that event, there will also be a minimum tender condition, which is typically set at 66% (75% in the case of some B.C. corporations) ownership by the offeror in order for the offeror to be certain that it will acquire sufficient shares to effect a second-stage, going private transaction. If an acquiror acquires more than 90% of the securities subject to the offer (which excludes shares held at the date of the take-over bid by the acquiror, its affiliates and associates), Canadian federal and provincial corporate legislation provide a procedure for the compulsory acquisition of the balance of the shares. No shareholder vote is required, although shareholders have the right to dissent and be paid the fair value of their shares. When less than 90% but more than 66% (or 75% in the case of some B.C. corporations) of the outstanding shares are acquired, the offeror can complete the acquisition of 100% of the target company by means of a subsequent going private transaction. This will require holding a special meeting of the shareholders of the target company to vote on the transaction. In this circumstance, the offeror can vote the shares that were acquired under the offer. Since the voting threshold under applicable corporate law for approval of a going private transaction (such as an arrangement or an amalgamation) is 66% (or 75% in the case of some B.C. corporations) of the votes cast at the meeting of shareholders, the offeror can be assured that the transaction will be approved . Why does Mountain Province Diamonds have meeting in BC? There are a few why!!!! Why MPVD shares under 3.50 for a long time? That's why... If MPVD and KDI merger approved , there is no future for minority shareholders, no bye and kiss speech from MPVD major shareholder, just prepare lubricant....O no, not for our pleasure. Future development of KDI could result in a mine life of 20+ years . read on one post here Gahcho Kue is now 20+ years
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