Mountain Province Diamonds

is a publicly listed diamond mining company (
). The company is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kué is the world’s largest new diamond mine and projected to produce an average of 4.5 million carats a year over the projected 12 years of the first phase of mine development.
Varshney Capital Corp. was involved in the financing which lead to the drilling of the “discovery” hole on the project. Through its joint venture with De Beers, the company is well placed to capitalize from the experience of the world’s leading international diamond producer. Canada is now the third largest and most politically stable diamond producing country.
The Gahcho Kué project consists of a cluster of four diamondiferous kimberlites, three of which are being developed in the first phase of mining and 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. Mountain Province intends to maximize shareholder value through the optimal operation of the Gahcho Kué mine.