Jun 21, 2016

First Production From Gahcho Kué Slated For Q3 2016

Mountain Province Diamonds Inc.  in an update on the  Gahcho Kué Diamond Mine Development  (in which it is a 49% stakeholder along with De Beers Canada) said that the first production from the mine  is expected  during Q3 2016.  “The specific timing within Q3 will depend on progress with the remaining commissioning,” the Company said.

Mountain Province President and CEO Patrick Evans commented: “We are pleased with the continuing excellent progress at Gahcho Kué and excited that first production will commence within the next few months. Key areas of focus are finalisation of commissioning of the process plant, remaining earthworks, pre-stripping and mining of kimberlite, as well as preparations for operational readiness.” 

For its part, the Company said it has put in place all the necessary arrangements to sell its share of diamond production from Gahcho Kué. 

Mark Pearton hs been appointed as Manager of Diamond Operations and  Elizabeth Swanson as Manager of Diamond Analysis. They will join the    Company’s diamond marketing team, under the leadership of Reid Mackie, Vice President of Diamond Marketing. 
Evans concluded by saying: “The project also continues to meet our lending group’s tests-to-completion with US$47M advanced to fund cash calls during Q2 2016. A total of US$278M has been drawn against the US$370M facility.”