Mountain Province Diamonds Inc T.MPVD

You got to love the Irish

[Macloud1]

He is picking up free warrants increasing  his holdings to 44% Just for providing a loan to pay of the other loan and to pay for the winter road. at 8% until Dec 2022 and then 10% thereafter. Not bad picking up 14% not at $2.00 a share but .78 cents a share.Big share dilution at a time when they have to renegotiate 300,000,000 million US in bonds. Thank you very much I will stay the course and stay away. Good luck Diamondboy I hope you have been selling because you haven't made a profit until the shares you own are sold.

[stockpunter]

I agree.  DD can do various things to protect his lousy investment, but these will be to the detriment of other shareholders in the long run.

[Diamondboy123]

Thank you kindly McLeod.  I've sold just over half my position.  Started selling at .58 cents right thru to .85.  Didn't get any bites at 86 thru 88.  Got 90 percent of my pricinpal amount invested back.  Will let the rest of my holdings ride.  Actually bought some today at .73 and 75 cents.  Happy new year and thank you once again McLeod .  Your

[explman]

Good to see somebody understands what is going on here!

[Diamondboy123]

Exactly.  Almost a double from low .40 cent range.  What else do you want? Great volume.  Insolvency off the table .  Let's drink!!!

[explman]

What do you think may happen when the $300M nut comes due later this year? Who will pay the heaviest price, equity holdes or debt holders? Or do you believe that they will generate +$300M in FCF and simply pay the debt off?

[Sparks]

Well they must have CAD$40m+ on hand today (net) after those stellar sales in Q3 and Q4. At a combined production of 6.4-6.8 mCTS this year, their share will produce revenues well north of USD$300- so say CAD380m  Cost to run the mine CAD200m albeit CAD130 in the first half due to weather etc leaves a CAD$180M to work with Some exploration costs in Feb CAD$10m (lets hope they find even more

[explman]

If they had 40M on hand from those stellar sales, w2hy did they need to borrow more money to pay for the winter road/supply season?

[Sparks]

Im only interested in the facts that have been given to the market . Winter roads are constructed each year there is no mystery or surprise at the cost- its annual and usually occurs in Q1. Its all in the normalised costs to run the mine which are sjewed 2/3's H1 and 1/3 H2 so lets stick to the facts. 1. Cash Balances as perpiublished  consolidated cash flow in Q3 2021 -CAD 42m Fact 2

[Macloud1]

If you want to stick to facts get them right.  At the end of the third quarter they had 42,488,000 in cash but they also had 40,060,000 in accounts payable and 24,850,000 line of credit, 232,000 in lease liabilities and 375,923,000 canadian bonds outstanding,  plus another 336,000 lease liability and finally 69,943,000 restoration liability. That is 300,000,000 us in bonds

[Sparks]

We wont labour the point- nothing new in your comment other than you are correct they have $42,000,000 in cash at the end of Q3- hope you are not suggesting that the $85m recieved in Q4 has disappeared or indeed the 3 planned sales in Q1 are cancelled. So  cash in Q1 is not an issue and obvioulsy it will be hugely revealing in terms of exploration and updates. So the point stands ill say no

[Macloud1]

Agood part of that 85,000,000 is used up by the cost of mining in the third quarter . There are three sales in the first quarter . Jan 10th closing Jan 21st, February 14th closing Feb 25th and March 21st closing April 1st. This means that there are only two sales that will be on the books in the first quarter. Things are very tight. There can be no interruptions or surprises. 

[DukesMacKensie]

Sparks says hes only interested in facts. FACT: Management, who know how much cash the company will need in Q1 2022 to resupply the Gahcho Kue mine, have said it will need to use the US$25m revolving credit facility. Sparks thinks we dont need to use it (not that we could possibly need it with 3 sales planned) As Mac correctly pointed out we will only have the cash from 2 sales in Q1 2022 and

[Diamondboy123]

Nice dukes.  

[Sparks]

Dukes We will have to beg to differ on what the mine should need in Q1- time will tell- but its hard to argue that it would be better for shareholders if there was no dillution via any new borrowings. Old/ new shareholders thats irrelevant- and from my perspective I have no issue on any rights issue and would certaintly subscribe if i am afforded the opportunity as I see the mine as a very

[DukesMacKensie]

So, Sparks, you’re a newbe with cash. Your recent post mostly repeats what you said in your earlier post. One condescending little sentence rather annoyed me and highlighted your lack of understanding of the key issues at the heart of this discussion – “Old/new shareholders that’s irrelevant”. Sorry, Sparks, in this case it’s very relevant. As Buffet would say, the only real shareholders in a

[walshjj]

a well written post and thats from a long of 22 years.