Wednesday, April 26, 2017

Mountain Province Diamonds - MPVD.t

Mountain Province Diamonds - MPVD.t is a Canadian diamond exploration and development company headquartered in Toronto, Ontario.

In joint venture with De Beers, Mountain Province is developing the Gahcho Kué Project, located in Canada's Northwest Territories.

On April 25, 2017 the company released News

Mountain Province Diamonds Inc. today released its production figures for the first quarter ended March 31, 2017, from the Gahcho Kue (GK) diamond mine.

The GK mine declared commercial production on March 1, 2017, having achieved more than 70 per cent of nameplate capacity of 8,333 tonnes per day over the preceding 30-day period. Mining of overburden, waste rock and ore in the 5034 open pit for the three months ended March 31, 2017, was approximately 7.7 million tonnes, with approximately 222,600 tonnes of ore (100-per-cent basis) stockpiled at period-end. For the three months ended March 31, the GK mine treated approximately 492,000 tonnes of ore through the process plant and recovered approximately 867,000 carats on a 100-per-cent basis for an average grade of approximately 1.76 carats per tonne. The company's attributable share of first quarter diamond production was approximately 424,830 carats.

In addition, the company anticipates achieving a realized diamond price for the balance of 2017 of between $70 (U.S.) and $90 (U.S.) per carat.