This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Will Purcell
The diamond and specialty minerals stocks box score for Wednesday was a bleak 66-106-138 as the TSX Venture Exchange rose one point to 591. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) lost one-half cent to 45.5 cents on 56,000 shares.
Mountain Province had a solid quarter mining diamonds at its 49-per-cent-owned Gahcho Kue mine at Kennady Lake, 250 kilometres northeast of Yellowknife in the Northwest Territories, but the company is looking beyond a steadily shrinking reserve to extend the life of the operation. Exploration around the three main kimberlite pipes being mined continues and as well, the company continues talks with its majority co-venturer, De Beers Canada, about adding the Kennady North kimberlites to the plan.
Gahcho Kue has grown since mining began in the fall of 2016, with the discovery of satellite deposits and extensions to the main pipes. Including the latest of those finds, the Hearne Northwest Extension, is now a hot topic for discussion thanks to drilling this year that outlines a significant amount of kimberlite. That kimberlite looks to have grades and diamond values roughly in line with those in the main Hearne body currently being mined from surface.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2024 Canjex Publishing Ltd. All rights reserved.