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Mountain Province Diamonds Updates Status on Term Loan Facility

Jan 9, 2015 9:43 AM   By Jeff Miller
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RAPAPORT... Mountain Province Diamonds Inc. confirmed that it continues to move toward arranging its previously announced $370 million term-loan facility. Finalizing the funds is subject to customary conditions, including final credit approval and an agreement on documentation, which is expected shortly.

Mountain Province Diamonds is a 49 percent participant with De Beers Canada in the Gahcho Kué diamond mine that is located in Canada's Northwest Territories. The Gahcho Kué project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes, grading at 1.57 carats per tonne for total diamond content of 55.5 million carats.

 

Tags: Canada, diamonds, financing, Jeff Miller, mining, mountain province
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