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RAPAPORT... Mountain Province Diamonds Inc. was approved for listing its shares on the Nasdaq under the symbol "MDM." Trading is expected to begin on December 31, 2014. The junior miner's common stock will continue to trade on the New York Stock Exchange until December 30. Mountain Province Diamonds trades on the Toronto Stock Exchange under the ticker symbol "MPV.TO" and shares closed nearly flat on December 18 at $5.01.
Patrick Evans, the CEO of Mountain Province Diamonds, said, "We are pleased to announce our listing on the Nasdaq. We believe the move to Nasdaq will improve the visibility of our stock, enhance trading liquidity in our shares and provide us with greater exposure to institutional investors."
Mountain Province Diamonds is a 49 percent stakeholder in the Gahcho Kué joint-venture with De Beers Canada, which holds a 51 percent share. the project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes of ore, grading 1.57 carats per tonne for total diamond content of 55.5 million carats.
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