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Gold/Mining/Energy : MPVIF Mountain Province Mining -- Ignore unavailable to you. Want to Upgrade?

To: .Trev who wrote (2012)	7/19/1999 5:15:00 PM
From: skelly	Read Replies (2) \| Respond to of 2577

Trev and All: Here is the report put out by Klassens at Goepel McDermid on the last PR : \| Home \| Register! \| Community \| My Bull \| Login \| Logout \| RT Quotes \| Mountain Province Mining (MPVIF) Message List Real Time Quote Chart Free E-Mail Raging MPVIF Links < Previous Respond Next > By: Luckyray Reply To: None Thursday, 15 Jul 1999 at 3:35 PM EDT Post # of 17 new at copying and pasting,but this was sent to me yesterday,from mpvif. MOUNTAIN PROVINCE MINING INC. (MPV-T, $3.40) - SPECULATIVE BUY ROBERT KLASSEN (604) 659-8285 Encouraging Bulk Sample Results from Kennady Lake Mountain Province Mining (MPV) yesterday announced positive bulk sample results from the Kennady Lake diamond project (36% MPV / 60% De Beers) in the Northwest Territories. Kennady Lake has the potential to be Canada's third diamond mine. Results to date are comparable to the earlier data from the Ekati mine (Dia Met 29% / BHP 51%) and Diavik project (Aber 40% / Rio Tinto 60%). We rate MPV as a Speculative Buy with a one-year target price of $4.00 per share however, further encouraging results over the summer could push MPV stock to the $5.00 level. Our longer term target for MPV is $9.00 per share. Kennady Lake is situated 120-km south of Lac de Gras. De Beers is the project operator and can earn a 60 percent interest in the project by funding a bulk sample, completing a feasibility study and taking the project through to production. Four diamondiferous pipes, the 5034, Hearne, Tuzo, and Tesla have been delineated for a preliminary resource of 36 million tonnes. Modeled grades and values per carat were assigned to each pipe from mini-bulk data collected during 1998. De Beers completed a bulk sample program during the winter of 1999 to collect approximately 500 tonnes from each pipe (See MPV Insight January 28, 1999 for details). Initial results released yesterday from the 1999 winter bulk sample on the 5034 pipe were a little better than expected. The 5034 pipe returned a grade of 1.71 carats per tonne based on 573 tonnes with the largest diamond being 10 carats. Average values per carat are pending. For comparison, the 50 tonne mini-bulk sample collected in 1998 for the 5034 pipe returned modeled grades of 1.6 carats per tonne at US$51 per carat, with the largest diamond recovered being 2.88 carats. A total of 13 reverse circulation holes were drilled on the 5034 to a depth of 300 metres recovering 614 tonnes. 980 carats were recovered from 573 tonnes of material using a commercial size 1.5-mm square screen cutoff. Results for the remaining 41 tonnes will be reported when available. Diamond distribution within the sample population is good with the three largest diamonds recovered being 10.0, 4.90 and 4.85 carats respectively. In total their were seven diamonds greater than 3 carats, 42 diamonds greater than 1 carat, 113 diamonds between ½ (50 points) carat and 1 carat, and 606 diamonds between 1/5 (20 points) and 1/2 (50 points) carat. The average value per carat for the parcel is pending. MPV trades at a significant discount relative to its peer group. This reflects the earlier stage nature of the Kennady Lake project. MPV share price implies a 10 percent discount rate on cash flows from a mine at Kennady Lake. For comparison, Aber's share price reflects a 7 percent discount rate on cash flow from Diavik while Dia Met's share price reflects a 3 percent discount rate on cash flow from Ekati. We feel the discount rate on MPV will be reduced as the project advances to feasibility, while higher grade or stone valuations would add direct value to the project. Increased focus on the Canadian diamond sector and continued strengthening in the multiples awarded to the peer group, namely Dia Met and Aber, could also result in a higher valuation for MPV. MPV has all the makings of a great diamond development story. Technical results from Kennady Lake continue to meet or exceed expectations and are comparable with early results for Diavik and Ekati. A steady flow of news should help maintain interest as bulk sample grade and valuation results for the Hearne, Tuzo and Tesla pipes will be reported throughout the summer. Caustic fusion results will be reported within the next week for the two new kimberlite bodies, the Wallace and the Faraday, discovered this past winter at Kennady Lake. (Voluntary Disclosure: Position- Long) BoardMark MemberMark Ignore Poster Report TOS Violation MPVIF Update Last 2 3/8 Chg. + 5/32 % +7.04% Time 15:59 Detailed \| Real-Time Nasdaq delayed 15 minutes, 20 min. otherwise. Your $0.02 Wanted! Why just lurk? 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