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Mountain Province Diamonds Signs Non-Binding Memorandum of Understanding with De Beers Regarding Kennady Diamonds Resources
Mountain Province Diamonds Signs Non-Binding Memorandum of Understanding with De Beers Reg...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n\n\n\nMountain Province Diamonds Signs Non-Binding Memorandum of Understanding with De Beers Regarding Kennady Diamonds Resources\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and NEW YORK, March 16, 2018\n\n\n\nShares Issued and Outstanding: 160,253,501TSX and NASDAQ: MPVD\n\n\n\nTORONTO and NEW YORK, March 16, 2018 /CNW/ - Mountain Province Diamonds Inc. (\"Mountain Province\", the \"Company\") (TSX and NASDAQ: MPVD) today announces it has signed a non-binding memorandum of understanding (\"MoU\") with its partner in the Gahcho Kué mine, De Beers Canada Inc. (\"De Beers\").\n\nThe MoU contemplates incorporating properties owned by Kennady Diamonds Inc. (\"Kennady Diamonds\") into the Gahcho Kué joint venture, in the event that Mountain Province's proposed acquisition of Kennady Diamonds is approved.  Mountain Province and De Beers will now work towards a definitive agreement based on the MoU.\n\nKim Truter, Chief Executive – Canada, De Beers Group, said, \"We have been very pleased with the progress of our partnership with Mountain Province in the Gahcho Kué mine.  Their proposed acquisition of Kennady Diamonds opens up some potential new options for the operation's future, and while further work would be required on the resource and there would need to be agreement on commercial terms, the signing of this non-binding MoU makes sense for both parties as we consider how our partnership might develop.\"\n\nDavid Whittle, Interim President and Chief Executive Officer of Mountain Province, said, \"The start up of the Gahcho Kué mine under De Beers' operatorship has been a clear success, and the positive working relationship that exists between the joint venture partners is a key component of that success.  Mountain Province firmly believes that the proposed Kennady Diamonds transaction can add significant project value through the potential to access Kennady Diamond's kimberlite resources.  We look forward to working with De Beers in the effort to develop a plan t...