Gahcho Kué Gets Good Grades in 1Q

RAPAPORT… The Gahcho Kué mine in Canada yielded 1.6 million carats in
the first quarter ending March 31, keeping the asset on track to reach its
production guidance for the year.

“The grades continue to perform well at the Gahcho Kué mine,
and are a key driver of the production results,” said David Whittle, CEO of
Mountain Province, which owns the mine in partnership with De Beers.

“Throughput”
— the volume of ore that undergoes processing in a given time — was higher than
Mountain Province originally anticipated, Whittle added. The overall production
figure for the quarter was 89% higher than a year ago, with mining operations beginning
in late 2016.

Mountain Province’s share of production came to 804,000
carats, as the company owns 49% of the project. De Beers holds the remaining
51%.

Mountain Province still expects its Gahcho Kué mine to
produce 6.3 million to 6.6 million carats for the year, Whittle added.