Past year: ▼ 73%(0.05c – 6.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Dec 2022drilling result▲ GoodMajor
Sixteen holes for 5,040 metres through the Hearne Northwest Extension, spotted in a pit bench face in late 2021, showed ten significant kimberlite intersections - up to 86 metres in hole MPV-22-568C - and modelling suggests a volume potentially equal to the Hearne orebody as originally defined. It sits below the exposed benches and plunges north-west, so the joint venture is looking at whether it can be mined underground.
23 Nov 2022drilling progress report▲ GoodMajor
Finished the 2022 Kennady North program with 25 of 35 holes hitting kimberlite over more than 5,000 metres, and a new body, KE, about 450 metres east of the Kelvin deposit - three holes through kimberlite sheets up to 2.13 metres, thin so far and to be drilled again in 2023. Eight volcaniclastic intersections came from the North Anomaly, and the ground now runs to over 113,000 hectares.
17 May 2022drilling progress report▲ GoodMajor
Halfway through a 6,000 metre winter program on Kennady North, 16 of 20 holes had hit kimberlite across three of four target areas - all seven holes north of Faraday 1-3, all five south of Faraday 2 at an average 4.5 metres wide, and four of six south of Kelvin. The North Anomaly holes included volcaniclastic kimberlite, which the company notes often points to a larger body.
29 Mar 2022resource reserve update● Neutral
The full JDS technical report on the Gahcho Kué mine effective 31 December 2021, filed alongside the results announcement of the same day.
29 Mar 2022resource reserve update▲ GoodMajor
The updated technical report put Mountain Province's 49% share of the mine at a C$1,233 million pre-tax and C$964 million post-tax present value at a 7.5% discount. Reserves stood at 42.6 million carats at 1.51 carats per tonne, with 2.6 million carats added before depletion, and the Tuzo reserve grade rose 11% to 1.33 carats per tonne. Outside reserves sit 3.0 million indicated carats at 1.25 and 20.3 million inferred at 1.72 carats per tonne, and the mine plan moved to 3.6 million tonnes a year.
24 Mar 2020resource reserve update▼ BadMajor
Wrote $115.8 million off the carrying value of the mine because expected future diamond prices had been cut to match the market, turning the fourth quarter into a $115.7 million loss, and withdrew all guidance over Covid-19. The mine itself performed: 3.58 million tonnes treated in 2019 for 6.82 million carats at 1.90 carats per tonne, with fourth-quarter grade at 2.11, but realised prices fell to US$64 a carat and cash costs ran at $103 a tonne treated and $49 a carat recovered.
23 Mar 2020resource reserve update● Neutral
The JDS technical report on the Gahcho Kué mine effective 31 December 2019, filed alongside the 2019 annual results.
11 June 2019drilling result▲ GoodMajor
Found a new kimberlite, named Wilson, about 200 metres east of the Tuzo pipe and inside the planned Tuzo open pit - the first kimberlite discovered on the joint venture leases in over 20 years. Holes cut up to 119 metres of kimberlite, it comes to surface under lake sediment, and a 115.2 kilogram sample yielded a 0.28 carat diamond.
28 May 2019resource reserve update● Neutral
Filed the technical report behind the April Faraday 2 increase, effective 24 April 2019. It also restates the neighbouring resources: 1.90 million carats inferred at the Faraday 1-3 complex and 13.62 million carats indicated at Kelvin.
11 Apr 2019resource reserve update▲ GoodMajor
The Faraday 2 resource grew 74% to 5.45 million carats in 2.07 million tonnes, a grade of 2.63 carats per tonne against 2.24 before, after the north-west extension found in 2017 was included. The bigger change was value: US$140 a carat against US$112, on revised stone size distribution modelling - well above the roughly US$60 to US$85 a carat Gahcho Kué itself was fetching at tender.
27 Feb 2019drilling progress report● Neutral
Started a 2,000-metre winter drilling program on the 67,164-hectare Kennady North ground, testing targets west and south-west of the Hearne pipe. The targets came out of a new consolidated database that included proprietary data leased from GGL Resources for a one-off cash payment, glacial till sampling and a LIDAR survey.
19 Sept 2018drilling progress report▲ GoodMajor
Further drilling found kimberlite in the corridor between the 5034 and Tuzo pits with true thicknesses up to 72 metres, and confirmed the Curie gravity target as kimberlite up to 52 metres thick starting only 18 metres below surface. None of this ground is in the current resource and its full extent is not yet known.
12 July 2018drilling progress report▲ Good
Drilling around the mine confirmed the north and south lobes of the Hearne pipe are joined by a kimberlite breccia running from 40 metres depth to at least 220 metres, with true intercepts of 27 to 41 metres in two of six holes; the other four hit nothing. Work continued on the 5034-to-Tuzo corridor and the Curie gravity target.
23 May 2018drilling progress report▲ GoodMajor
First exploration season on the Kennady North ground as owner rather than spectator: 38 holes for 6,826 metres across three rigs, finishing delineation of the north-west extension of Faraday 2 that had added over 150 metres to the kimberlite. The drilling is meant to lift the Faraday 2 pipe model to inferred confidence.
26 Mar 2018resource reserve update● NeutralMajor
Year-end 2017 probable reserves stood at 31.5 million tonnes containing 49.4 million carats at 1.57 carats per tonne, after a year of mining. The grade differs sharply by pipe: 5034 at 1.91 and Hearne at 1.99 carats per tonne against Tuzo, the largest by tonnage at 15.7 million tonnes, at only 1.22.
26 Mar 2018resource reserve update● Neutral
The full JDS technical report on the Gahcho Kué mine, effective 31 December 2017, filed in support of the year-end reserve and resource statement announced the same day.
18 Jan 2018drilling progress report▲ GoodMajor
All six holes drilled so far in the Southwest Corridor between the 5034 and Hearne pits hit diamond-bearing kimberlite, with true thicknesses of 3.1 to 26.4 metres, in ground the mine plan currently treats as waste rock and which is in no resource statement. Surveys also flagged a new gravity target between the Tesla and Tuzo pipes and a possible south-west extension of Tesla; 11 more holes were still to drill.
5 Mar 2015drilling result▲ GoodMajor
Caustic fusion of 434 kilograms of core from the 2014 deep holes recovered 2,514 diamonds weighing 3.24 carats in total, of which 2.46 carats were stones larger than 0.85mm - a sample grade of 5.67 carats per tonne at that cut-off. The coarse end was thin, with a single stone in the +2.36mm class and none above 3.35mm.
30 June 2014drilling result▲ GoodMajor
Follow-up drilling confirmed the Tuzo pipe continues past 740 metres below surface, with hole MPV14-411C cutting kimberlite from 601 to 743 metres and MPV14-406C from 85 to 655 metres, and showed the pipe plunging north-east at depth. Two holes had to be wedged and one abandoned in kimberlite at 457 metres because of unstable ice.
14 May 2014resource reserve update▲ GoodMajor
Filed the 2014 feasibility study report itself, unchanged in its headline numbers from the 2 April announcement, and disclosed that a financial adviser had been hired to arrange project debt - the first step towards funding the C$858.5 million build with something other than equity.
2 Apr 2014resource reserve update▲ GoodMajor
The revised feasibility study put Gahcho Kué at a 32.6% return and a C$1.005 billion net present value at a 10% discount, for C$858.5 million of remaining capital. It plans a 12-year mine treating 3 million tonnes a year for 53.4 million carats in total, averaging 4.45 million carats a year and 5.6 million in the first three full years, at a modelled diamond price of US$118.38 a carat in 2014 money rising to a life-of-mine average of US$149.66.
20 Aug 2013resource reserve update● Neutral
A short notice that the updated Gahcho Kué technical report, whose results were announced on 2 July, had been filed on SEDAR and EDGAR. It carries no figures beyond those already released.
14 Aug 2013resource reserve update● Neutral
The full technical report behind the July resource increase: Mineral Services Canada's updated estimate for the Tuzo kimberlite, effective 2 July 2013.
2 July 2013resource reserve update▲ GoodMajor
The deep drilling paid off in the resource: indicated resources rose 12% to 56.6 million carats (33.8 million tonnes at 167 carats per hundred tonnes) and inferred rose 80% to 18.5 million carats (11.3 million tonnes at 164 carats per hundred tonnes). Almost all of the gain was Tuzo below 350 metres, where inferred carats went from 6.2 million in 2009 to 14.4 million plus 6.0 million now indicated.
12 Apr 2012drilling result▲ GoodMajor
Five deep holes totalling 3,725 metres confirmed substantial kimberlite at Tuzo well below the 350-metre base of the existing resource, with intercepts of 137 to 216 metres and the deepest cutting kimberlite from 604 to 819 metres. The pipe widens with depth, from about 125 metres across near surface to 225 metres at 300 metres, and the company noted the existing resource model shows grade rising with depth.
24 Oct 2011drilling progress report● Neutral
Finished the 3,991 line-kilometre airborne gravity survey (1,198 km over Gahcho Kué, 2,793 km over the wholly-owned Kennady North ground), with results expected in November, and expanded the Tuzo deep drilling program.
7 Oct 2011drilling progress report● Neutral
Started deep drilling at the Tuzo kimberlite to test for diamond-bearing rock between 350 and 750 metres, below the bottom of the existing resource, and began the first property-wide airborne gravity survey flown at Kennady Lake in roughly 17 years of exploration.
