Diamond

Mountain Province's Gahcho Kue Mine Over 70 Percent Complete

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Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) announced that development of the Gahcho Kue diamond mine is moving forward on time and on budget. Currently the project as a whole is over 70 percent complete.

Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) announced that development of the Gahcho Kue diamond mine is moving forward on time and on budget. Currently the project as a whole is over 70 percent complete.
As quoted in the press release:

The safety performance at Gahcho Kué remains good with no lost-time injuries over the past 18 months. Detailed engineering and procurement are both complete and the process plant and truck maintenance buildings are on track to be enclosed by the end of October.

Patrick Evans, president and CEO of Mountain Province, commented:

We’re on track for first production in H2 2016. Key areas of focus are contractor productivity and preparation for operational readiness.
Gahcho Kué continues to meet our lending group’s tests-to-completion and further draw-downs against the Company’s US$370M project finance facility have been approved. We have drawn down US$137M against the facility and expect to have drawn down a total of US$158M by yearend.

Click here to read the full Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) press release.

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