Wednesday, August 24, 2011 10:31:07 AM
Commenting, Mountain Province President and CEO, Patrick Evans, said: "Gahcho Kué is the world's largest and highest grade diamond development project, located in the world's most stable diamond producing region, so it's inevitable that we've attracted the interest of other participants in the diamond industry. While the Board has welcomed third party interest in Mountain Province, the Company is currently focused on advancing the permitting and financing for the first mine at Kennady Lake, two activities that require the full attention of management. Also, our two major exploration programs at Kennady Lake - the planned Kennady North airborne gravity survey and the Tuzo Deep drill program - both have the potential to add significantly to Gahcho Kué's current 49 million carat reserve. Under the circumstances, the Board is of the view that further engagement with third parties might be premature before the results of these exploration programs have been announced."
Mountain Province recently announced that the Gahcho Kué Environmental Impact Review Panel ("Panel") has declared that the 11,000-page Gahcho Kué Environmental Impact Statement conforms to the rigorous terms of reference set by the Panel, which clears the way for the commencement of the environmental review. Mr. Evans added: "The environmental review is a period of intense engagement that requires the full attention of the Gahcho Kué JV partners to ensure its successful conclusion".
Mountain Province is also pleased to announce that following the approval by the JV partners of the definitive feasibility study the Company has been approached by one of Canada's major commercial banks proposing to lead the arrangement of a project finance facility for Mountain Province's share of the construction costs for the first mine at Gahcho Kué. Discussions relating to this are continuing and the Company expects to make a further announcement in due course.
The first phase of the Tuzo Deep drill program, which is designed to test the depth extension of the Tuzo kimberlite pipe located on the Gahcho Kué JV property, is also set to commence during the current third quarter of 2011. Based on the success of this first phase drill program, the JV partners will plan a second phase infill drill program to commence in early 2012.
Exploration at the Kennady North Project, which is located immediately to the west and north of the Gahcho Kué JV property at Kennady Lake, is set to resume with a planned 50-meter line-spacing airborne gravity survey. The airborne gravity survey will also be flown over the four leases of the Gahcho Kué JV. Subject to favourable weather conditions, the airborne gravity survey is expected to be commence during the current third quarter of 2011.
Recent MPVD News
- MOUNTAIN PROVINCE DIAMONDS ANNOUNCES UPDATED LIFE OF MINE PLAN AND UPDATED MINERAL RESOURCE AND RESERVE ESTIMATE • PR Newswire (US) • 08/21/2024 10:37:00 PM
- MOUNTAIN PROVINCE DIAMONDS ANNOUNCES UPDATED LIFE OF MINE PLAN AND UPDATED MINERAL RESOURCE AND RESERVE ESTIMATE • PR Newswire (Canada) • 08/21/2024 09:40:00 PM
- MOUNTAIN PROVINCE DIAMONDS ANNOUNCES UPDATED LIFE OF MINE PLAN AND UPDATED MINERAL RESOURCE AND RESERVE ESTIMATE • PR Newswire (US) • 08/21/2024 09:40:00 PM
- Mountain Province Diamonds Announces Second Quarter Financial Results for 2024 • PR Newswire (US) • 08/07/2024 11:21:00 PM
- Mountain Province Diamonds Announces Second Quarter Financial Results for 2024 • PR Newswire (US) • 08/07/2024 10:23:00 PM
- Mountain Province Diamonds Announces Second Quarter Financial Results for 2024 • PR Newswire (Canada) • 08/07/2024 10:23:00 PM
- Mountain Province Diamonds Announces Second Quarter 2024 Production and Sales Results, Details of Second Quarter 2024 Earnings Release and Conference Call • PR Newswire (US) • 07/25/2024 09:31:00 PM
- Mountain Province Diamonds Announces Second Quarter 2024 Production and Sales Results, Details of Second Quarter 2024 Earnings Release and Conference Call • PR Newswire (Canada) • 07/25/2024 09:30:00 PM
- Mountain Province Diamonds Announces Second Quarter 2024 Production and Sales Results, Details of Second Quarter 2024 Earnings Release and Conference Call • PR Newswire (US) • 07/25/2024 09:30:00 PM
- Mountain Province Diamonds Announces Voting Results from 2024 Annual General Meeting of Shareholders • PR Newswire (US) • 07/11/2024 09:00:00 PM
- Mountain Province Diamonds Announces Voting Results from 2024 Annual General Meeting of Shareholders • PR Newswire (Canada) • 07/11/2024 09:00:00 PM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (US) • 05/09/2024 11:00:00 AM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (US) • 05/09/2024 11:00:00 AM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (Canada) • 05/09/2024 11:00:00 AM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (US) • 05/09/2024 12:00:00 AM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (Canada) • 05/08/2024 11:37:00 PM
- Mountain Province Diamonds Announces First Quarter Financial Results for 2024 • PR Newswire (US) • 05/08/2024 11:37:00 PM
- Mountain Province Diamonds Announces First Quarter 2024 Production and Sales Results, Details of First Quarter 2024 Earnings Release and Conference Call • PR Newswire (US) • 04/22/2024 09:09:00 PM
- Mountain Province Diamonds Announces First Quarter 2024 Production and Sales Results, Details of First Quarter 2024 Earnings Release and Conference Call • PR Newswire (US) • 04/22/2024 09:01:00 PM
- Mountain Province Diamonds Announces First Quarter 2024 Production and Sales Results, Details of First Quarter 2024 Earnings Release and Conference Call • PR Newswire (Canada) • 04/22/2024 09:01:00 PM
- Mountain Province Diamonds Announces Full Year and Fourth Quarter 2023 Results • PR Newswire (US) • 04/02/2024 01:15:00 AM
- Mountain Province Diamonds Announces Full Year and Fourth Quarter 2023 Results • PR Newswire (US) • 04/02/2024 12:59:00 AM
- Mountain Province Diamonds Announces Full Year and Fourth Quarter 2023 Results • PR Newswire (Canada) • 04/02/2024 12:59:00 AM
- Mountain Province Diamonds Announces Revised Details for Q4 and Full-Year 2023 Earnings Release and Conference Call • PR Newswire (US) • 03/25/2024 11:24:00 PM
- Mountain Province Diamonds Announces Revised Details for Q4 and Full-Year 2023 Earnings Release and Conference Call • PR Newswire (US) • 03/25/2024 11:00:00 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM