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Gold/Mining/Energy : MPVIF Mountain Province Mining
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To: Rocket Red who wrote (2361)9/5/2002 9:24:00 AM
From: kidl  Read Replies (3) of 2577
 
This should help a little:

Globe says Kennady Lake diamonds buoy Mountain Province

Mountain Province Diamonds Inc MPV
Shares issued 62,246,188 Sep 4 close $1.42
Thu 5 Sept 2002 In the News
The Globe and Mail reports in its Thursday, Sept. 5, edition that Mountain Province Diamonds soared 31 cents to $1.42 on the Toronto Stock Exchange Wednesday. The Globe's Market Movers column reports that Mountain Province stock headed north after De Beers Consolidated Mines of South Africa said a bulk sample taken from its 51-per-cent-owned Kennady Lake diamond prospect in the Northwest Territories contained several large stones from kimberlite pipe 5034. Mountain Province owns 44.1 per cent of the project. Mountain Province says there is a "very good chance" the value of the diamonds found in the sample will raise the project's estimated revenue by 15 per cent and improve profitability. Under the joint venture deal, if a 15-per-cent internal rate of return is achieved in a desktop study, De Beers must proceed with a feasibility study on a diamond mine or see its ownership cut to 30 per cent. A valuation of the diamonds is expected to be completed by the end of the year, reports The Globe.
(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com
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