Mountain Province Diamonds Inc
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Mountain Province taps Dunebridge for US$33M loan
Citing “serious financial difficulty,” Mountain Province Diamonds (TSX: MPVD) has again tapped its largest shareholder for a loan, this time adding a US$33-million term loan facility to its existing US$25-million revolving credit facility with Dunebridge Worldwide. Mountain Province owns a…
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Gahcho Kué, Brucejack mines grapple with Covid outbreaks
De Beers and Mountain Province Diamonds have suspended operations at their jointly owned Gahcho Kué diamond mine, 280 km north of Yellowknife, as they work to contain a Covid-19 outbreak that began last week. In addition to two cases in…
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Sale of Ekati mine to Arctic Canadian Diamond closes
Dominion Diamond‘s sale of Canada’s first diamond mine, Ekati, to Arctic Canadian Diamond Company has been completed. Full operations at the site, which had been placed on care and maintenance at the beginning of the pandemic last March, resumed on…
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Mountain Province’s first diamond sale of 2021 shows 8% price rise
After a devastating 2020 which saw a near collapse in the global diamond trade, Mountain Province Diamonds‘ latest sales figures show the sparkle may be starting to return to the diamond sector. The 49%-owner of the Gahcho Kué mine in…
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Mountain Province sees ‘positive momentum’ in battered diamond market
Since resuming regular diamond tenders in September, Mountain Province Diamonds has seen prices for its goods start to rise. In fact, the diamond junior, which owns a 49% stake in the Gahcho Kué mine in the Northwest Territories, says…
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Diamond market shows signs of revival
After being virtually shut down since March, the diamond market has slowly come back to life. This fall, De Beers, the world’s largest diamond producer by value, has reported a growing momentum in sales. Several small producers also reported their…
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Mountain Province resumes diamonds sales in Antwerp
Mountain Province Diamonds held its first traditional diamond sale since the pandemic began on Sept. 19 in Antwerp. And while the sales figures are modest, the resumption of diamond sales is a major positive development for the diamond sector, which…
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DIAMONDS: Mountain Province looks to biggest shareholder for revenue, refinancing
TORONTO – Mountain Province Diamonds‘ biggest shareholder is once again providing a lifeline to the diamond miner, which has been starved of revenue since the coronavirus pandemic began in March. After closing a $50-million alternative diamond sale deal in June…
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Diamonds Snapshot: Six juniors staying in the game
For companies without the size and heft of the big producers De Beers and Alrosa, the diamond space has always been a challenging one – even before the coronavirus pandemic. But with long-term fundamentals that point to a bright future…
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DIAMONDS: Mountain Province arranges $50M alternative diamond sale
TORONTO – With the diamond trade still largely shut down due to the coronavirus pandemic, Mountain Province Diamonds has found a way to bring in much needed revenue with a $50-million sale of rough to a company owned by its…
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MINING PEOPLE: Freeman Gold, Golden Tag, Heatherdale Resources, New Pacific Metals, Skeena
Management moves announced this week include: Dean Besserer is now VP of exploration with Freeman Gold. Golden Tag Resources has named Greg McKenzie president, CEO and a director with Carmelo Marrelli appointed to the CFO role. Will Ansley is now…
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DIAMONDS: Coronavirus curbs Mountain Province revenue
Unlike many other mines in Canada and around the world that have been put on care and maintenance in the last week because of the global COVID-19 pandemic, De Beers‘ (51%-owned) and Mountain Province Diamonds‘ (49%-owned) Gahcho Kué mine in…
