RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Mountain Province Increases Private Placement to $45M

Jun 13, 2014 3:14 PM   By Jeff Miller
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT...  Mountain Province Diamonds Inc. increased the size of its previously announced non-brokered private placement from $35 million to approximately $45 million. The first tranche under the private placement closed on June 12  and the second tranche is expected to close on or before June 20.  Common shares issued under the private placement have been priced at $5 per share and are subject to a four month hold period. 

The proceeds of the private placement will be used to support the company's 49 percent share of capital expenditures at the Gahcho Kué diamond project and for general corporate purposes. De Beers Canada holds a 51 percent stake in the project.

First production from Gahcho Kué is expected in the second half of 2016. The project consists of a cluster of four diamondiferous kimberlites, three of which have a probable diamond content total  of 55.5 million carats.

 

Tags: funding, Jeff Miller, mountain province, placement
Similar Articles
AlrosaAlrosa Profit Drops in Third Quarter
Nov 10, 2019
Weak rough-diamond demand led to a decline in profit at Alrosa in the third...
Mountain Province Slides to Net Loss
Gem Diamonds Lowers Full-Year Outlook
Angola Diamond Sales Rise
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us