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 2017 | 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 7, 2017 - Mountain Province Diamonds Provides Corporate Update |
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 7, 2017 | By: | /s/ Perry Ing |
| Perry Ing | ||
| Chief Financial Officer | ||
Exhibit 99.1
Mountain Province Diamonds Provides Corporate Update
Shares Issued and Outstanding: 160,173,833
TSX and NASDAQ: MPVD
TORONTO and NEW YORK, March 7, 2017 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX and NASDAQ: MPVD) today announced the completion of the second sale of Gahcho Kué diamonds at which the Company sold 277,646 carats. The Company received bids on all parcels offered, including unsold parcels carried over from the January sale, and sold all the parcels offered.
The Company's third sale of approximately 193,900 carats of Gahcho Kué diamonds is scheduled for late March 2017. Detailed results of the cumulative first quarter sales will be released with the Company's Q1 2017 financial results. Diamond sales will continue to occur once every five weeks and all future sales results will be reported with the Company's quarterly and annual financial results.
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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 consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.88 million tonnes grading 1.57 carats per tonne for total diamond content of 54.64 million carats.
Gahcho Kué is the world's largest and highest grade new diamond mine. 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
Cautionary Statement: This news release contains forward-looking statements under applicable Canadian and US securities regulations
and legislation in which Mountain Province discusses its potential future performance. Forward-looking statements are all statements
other than statements of historical facts, such as projections or expectations relating to ore grades and processing rates, production
and sales volumes, cash costs, operating cash flows, capital expenditures, debt management initiatives, exploration efforts and
results, development and production activities and costs, liquidity, tax rates, the impact of diamond price changes, reserve estimates,
and future dividend payments. The words "anticipates," "may," "can," "plans," "believes,"
"estimates," "expects," "projects," "targets," "intends," "likely,"
"will," "should," "to be", "potential" and any similar expressions are intended to identify
those assertions as forward-looking statements. Under its current project finance facility Mountain Province is not permitted to
pay dividends on common stock unless and until obligations under the facility have been satisfied. The declaration of dividends
is at the discretion of Mountain Province's Board of Directors, subject to restrictions under the Company's project finance facility,
and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant
by the Board.
Mountain Province cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause Mountain Province's actual results to differ materially from those anticipated in the forward-looking statements include supply of and demand for, and prices of, diamonds, mine commissioning, mining sequencing, production rates, cash flow, industry risks, regulatory changes, political risks, labor relations, weather- and climate-related risks, environmental risks and other risk factors.
Investors are cautioned that many of the assumptions upon which Mountain Province's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example diamond prices, which Mountain Province cannot control, and production volumes and costs, some aspects of which Mountain Province may not be able to control. Further, Mountain Province may make changes to its business plans that could affect its results. Mountain Province 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.
To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/March2017/07/c1011.html
%CIK: 0001004530
For further information: Mountain Province Diamonds Inc., Patrick Evans, President and CEO, 161 Bay Street, Suite 1410, Toronto, Ontario M5J 2S1, Phone: (416) 361-3562, E-mail: info@mountainprovince.com, www.mountainprovince.com
CO: Mountain Province Diamonds Inc.
CNW 16:29e 07-MAR-17