Canadian diamond miner Mountain Province to soon delist from TSX
Mountain Province Diamonds continues to pursue a potential restructuring transaction among its shareholders and creditors, which may include a "go-private" transaction, share consolidation or one or more other transactions, the company received the requisite approval of shareholders to voluntarily delist the company's shares from the TSX and to continue the company from Ontario under the Business Corporations Act.
The company expects its shares to delist from the stock exchange on or about July 17, which is ultimately attributed to a prolonged weakness in the global diamond market.
Additionally, the board is undertaking a concerted search to fill three vacancies on the board, as well as appoint new auditors following the resignation of KPMG.
Mountain Province remains a 49% participant with De Beers Canda in the Gahcho Kué diamond mine, in Canada’s Northwest Territories.
The venture consists of several kimberlites that are actively being mined, developed and explored for future development.
Mountain Province also holds more than 96 000 ha of highly prospective mineral claims and leases surrounding the Gahcho Kué mine that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.