SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF ISSUER PURSUANT TO SECTION 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
| For the Month Ended | Commission File Number |
| March, 2016 | 000-27322 |
MOUNTAIN PROVINCE DIAMONDS INC.
(Exact name of the registrant as specified in its charter)
ONTARIO
(Jurisdiction of Incorporation or Organization)
161 Bay Street, Suite 2315, P.O. Box 216
Toronto, Ontario, Canada M5J 2S1
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20F- or Form 40-F.
| FORM 20-F x | FORM 40-F o |
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| Yes o | No x |
If "Yes" is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
EXHIBIT LIST
| Exhibit | Description |
| 99.1 | News Release dated March 14, 2016 - Mountain Province Updates Gahcho Kué Diamond Mine Development |
MOUNTAIN PROVINCE DIAMONDS INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| MOUNTAIN PROVINCE DIAMONDS INC. | ||
| Date: March 14, 2016 | By: | /s/ Bruce Ramsden |
| Bruce Ramsden | ||
| Chief Financial Officer | ||
Exhibit 99.1
Mountain Province Updates Gahcho Kué Diamond Mine Development
| · | Overall project more than 87 percent complete |
| · | On plan for first production in H2 2016 |
| · | Appointment of Mine General Manager |
Shares Issued and Outstanding: 159,678,833
TSX: MPV
NASDAQ: MDM
TORONTO and NEW YORK, March 14, 2016 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NASDAQ: MDM) is pleased to announce that development of the Gahcho Kué diamond mine is progressing according to plan with the overall project more than 87 percent complete and on track for first production during H2 2016.
Patrick Evans, Mountain Province President and CEO, commented: "We continue to make excellent progress at Gahcho Kué. Key areas of focus are remaining earthworks, commissioning of the primary crusher and diamond plant, pre-stripping and stockpiling of kimberlite as well as preparations for operational readiness."
Mountain Province is also pleased to announce that the Gahcho Kue Joint Venture has appointed Allan Rodel as the mine general manager. Mr. Rodel joined the De Beers Group in 1997 and has held a number of senior management positions, including that of Gahcho Kue project manager since 2013. Mr. Rodel has an honors degree in chemical engineering from the University of Natal and resides in Yellowknife, N.T.
In addition to Mr. Rodel, nine senior operational appointments have been made at Gahcho Kue, including the mining manager, engineering and maintenance manager, ore processing manager and technical services manager. Under the leadership of Mr. Rodel and the operations management team, commissioning of the Gahcho Kue mine is well underway.
Mr. Evans added: "We are also pleased to report that the ice road deliveries to Gahcho Kue are proceeding to plan. Importantly, delivery of critical large mining equipment to site was completed last week with the bulk of the remaining deliveries being diesel fuel. The project also continues to meet our lending group's tests-to-completion with US$73M advanced to fund cash calls during Q1 2016. A total of US$231M has been drawn against the US$370M facility. An update on performance against budget will be provided with the yearend results at the end of March."
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Mountain Province Diamonds 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 be amongst the highest margin diamond mines due to the high grade and open-pit nature of the operation.
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.
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%.
The Gahcho Kué diamond mine is expected to produce an average of 4.5 million carats a year over a 12 year mine life.
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 includes certain information that may constitute "forward-looking information" under applicable Canadian
and US securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future
operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may
cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation
to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except
as required by law.
SOURCE Mountain Province Diamonds Inc.
%CIK: 0001004530
For further information: Mountain Province Diamonds Inc., Patrick Evans, President and CEO, Phone: (416) 361-3562, E-mail: info@mountainprovince.com, www.mountainprovince.com
CO: Mountain Province Diamonds Inc.
CNW 09:00e 14-MAR-16