Mountain Province Diamonds Inc

Published : July 28th, 2014

Mountain Province Diamonds Appoints Banks to Arrange and Underwrite US$370M Term Loan Facility

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Keywords :   Canada | Carats | Diamond | Lead | London | United Kingdom |

Mountain Province Diamonds Appoints Banks to Arrange and Underwrite US$370M Term Loan Facility

Shares Issued and Outstanding: 115,204,550
TSX: MPV
NYSE MKT: MDM

TORONTO and NEW YORK , July 28, 2014 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE MKT: MDM) is pleased to announce the appointment of three leading international banks to arrange and underwrite a senior secured term loan facility of up to US$370M (the "Facility") to fund the Company's share of the construction cost of the Gahcho Kué Diamond mine located in Canada's Northwest Territories . Gahcho Kué is a joint venture between De Beers Canada Inc. (51%) and Mountain Province (49%).

Mountain Province has mandated Deutsche Bank A.G., acting through its London Branch, Natixis S.A. and Nedbank Limited as the lead arrangers ("Lead Arrangers") to underwrite, arrange and manage the primary syndication of the Facility, subject to the satisfaction of certain conditions including, but not limited to, the successful completion of due diligence and internal bank approvals of the Lead Arrangers and agreement of Facility documentation, which is expected prior to the end of 2014.

As at the end of June 2014 , the overall project was progressing according to plan and remains on schedule for first production during H2 2016. Mountain Province is currently funding its share of the capital with equity and has arranged sufficient equity to fund planned capital commitments through to the end of 2014.

Mountain Province is being advised by Rockface Capital of the United Kingdom .

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué JV located at Kennady Lake 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 1.57 carats per tonne for total Diamond content of 55.5 million carats.

Gahcho Kué is the world's largest and richest new Diamond development project. A 2014 NI 43-101 feasibility study report filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 32.6%.

Qualified Person
This news release has been prepared under the supervision of Carl G. Verley , P.Geo., who serves as the qualified person under National Instrument 43-101.

Forward-Looking Statements
This news release may contain forward-looking statements, within the meaning of the "safe-harbor" provision of the Private Securities Litigation Reform Act of 1995, regarding the Company's business or financial condition. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside the control of the Company.

SOURCE Mountain Province Diamonds Inc.

Read the rest of the article at finance.yahoo.com
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Mountain Province Diamonds Inc

DEVELOPMENT STAGE
CODE : MDM
ISIN : CA62426E4022
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Mountain Province Diamonds is a diamonds exploration company based in Canada.

Mountain Province Diamonds develops diamonds and gold in Canada, and holds various exploration projects in Canada.

Its main asset in development is BAFFIN ISLAND in Canada and its main exploration properties are BORDEN, GAHCHO KUÉ, TELEGRAPH, KETZA RIVER (EVE / WHITE / WHYTE) and SPRINGTIME in Canada.

Mountain Province Diamonds is listed in Canada and in United States of America. Its market capitalisation is US$ 230.7 millions as of today (€ 219.1 millions).

Its stock quote reached its lowest recent point on February 27, 2009 at US$ 0.54, and its highest recent level on September 18, 2009 at US$ 9.84.

Mountain Province Diamonds has 45 240 000 shares outstanding.

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Financings of Mountain Province Diamonds Inc
3/12/2014Announces Increase to Previously Announced Bought Deal Finan...
3/12/2014Announces C$15.3M Bought Deal Financing
11/18/2013reases Non-Brokered Private Placement to C$29.1M
11/11/2013Announces Non-Brokered Private Placement
Project news of Mountain Province Diamonds Inc
10/6/20152:15 pm Mountain Province Diamonds confirmed that the develo...
8/12/2014Gahcho Kué joint venture welcomes issuance of land use permi...
6/14/2011(Gahcho Kué)De Beers Canada and Mountain Province Diamonds Provide Gahch...
Corporate news of Mountain Province Diamonds Inc
6/22/2016Mountain Province Diamonds Announces Results of Annual Gener...
6/20/2016Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
5/9/2016Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
10/15/2015Mountain Province Appoints Vice President Diamond Marketing
10/6/2015Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
7/16/2015Rio Tinto Reports Sound Q2 Volumes Despite Price Worries - A...
7/7/2015Mountain Province's Gahcho Kué Diamond Mine 62 percent Compl...
7/7/2015Mountain Province’s Gahcho Kué Diamond Mine 62 percent Compl...
4/20/2015General Moly (GMO) Looks Good: Stock Surges 25.9% - Tale of ...
4/16/2015Will Mountain Province Diamonds (MDM) Continue to Surge High...
4/16/2015FMSA Holdings (FMSA) Jumps: Stock Adds 5.8% in Session - Tal...
4/7/2015Mountain Province Diamonds Closes Term Loan Facility to Fund...
3/31/2015Mountain Province Diamonds C$95M Rights Offering Completed a...
3/20/2015Mountain Province Diamonds (MDM) is Oversold: Can It Recover...
3/17/2015Mountain Province Diamonds Provides Gahcho Kué Project Updat...
3/4/2015Mountain Province Diamonds Announces Diamond Recovery Result...
2/18/2015Mountain Province Diamonds Announces C$95M Rights Offering
2/3/2015Mountain Province Diamonds Announces Credit Approval for US$...
1/8/2015Mountain Province Diamonds Updates Term Loan Facility
1/8/2015Mountain Province Diamonds Updates Term Loan Facility
12/24/2014Gahcho Kué Joint Venture and Deninu Kué First Nation Sign Im...
12/20/2014Mountain Province Diamonds to Begin Trading on NASDAQ Stock ...
12/19/2014Mountain Province Diamonds to Begin Trading on NASDAQ Stock ...
12/16/2014Gahcho Kué Joint Venture and NWT Métis Nation Sign Impact Be...
10/16/2014Mountain Province Diamonds Closes C$100M Bought Deal and Non...
10/16/2014Mountain Province Diamonds Closes C$100M Bought Deal and Non...
8/12/2014Gahcho Kué Joint Venture Welcomes Issuance of Land Use Permi...
7/28/2014Mountain Province Diamonds Appoints Banks to Arrange and Und...
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AMEX (MDM)TORONTO (MPV.TO)
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