Shareholders of the two Canadian mining companies have given their approval by an overwhelming majority for Mountain Province Diamonds to move forward with the acquisition Kennady Diamonds. The proposed deal, first announced in January 2018, will reunite mining operators that divorced some seven years ago. Mountain Province first announced spinning out its Kennady North project into a newly listed public company late in 2011.
De Beers and Mountain Province Diamonds - which together operate the Gahcho Kué mine in a joint venture - have signed a a non-binding Memorandum of Understanding (MoU) that considers incorporating properties owned by Kennady Diamonds into the Gahcho Kué mine.
Mountain Province Diamonds and Kennady Diamonds have entered into a friendly and definitive agreement whereby Mountain Province will acquire all the issued and outstanding shares of Kennady, at a premium. Kennady shareholders will receive 0.975 of a Mountain Province share from each Kennady share they hold. That represents a value of $3.46 per Kennady share, and a premium of 26% to Kennady’s closing price and a premium of 15% based on the 20-day volume- weighted-average-price of Mountain Province Shares on the TSX and Kennady Shares on the TSX-V, both as of close on January 26, 2018.
Kennady Diamonds, a Canadian diamond exploration company headquartered in Toronto, has reported a maiden Inferred Mineral Resource (IMR) of more than 5.02-million carats for the Faraday kimberlites at the Company’s 100 percent owned Kennady North Project in Canada’s Northwest Territories, the company announced in a press release. The IMR result builds significantly on their Kelvin Indicated Resource of 13.62 million carats and, "represents another significant step in the advancement of our Kennady North Project", said President and CEO of Kennady Diamonds Dr. Rory Moore.
Canadian junior miner Kennady Diamonds reports a collective average price of US$109 per carat from its bulk sampling program of diamonds recovered from the Faraday kimberlites at the 100 percent-controlled Kennady North project located in Canada’s Northwest Territories. Valuation results included a 7.78 carat sawable diamond recovered from Faraday 3 valued at US$2,967 per carat. A total of 1,259.16 carats (+0.85mm) recovered from the 2017 bulk sampling program was sent to WWW International Diamond Consultants (‘WWW’) in Antwerp for valuation.
Canadian junior miner Kennady Diamonds has announced "positive" diamond recovery results from sampling from the Faraday 3 and Faraday 1 kimberlites on its Kennady North Project, including the largest high-quality diamonds to date on the project, with a 7.78ct white gem-quality stone as well as numerous diamonds exceeding one carat. The samples were collected during the winter 2017 program that was designed to further delineate both kimberlites as well as to recover sufficient carats from Faraday 3 for valuation. The company summarizes the most relevant results as follows:
Canadian junior miner Kennady Diamonds, whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, announced the terms of a non-brokered private placement whereby the Company plans to raise approximately C$10,000,000 (US$7.3 million) through the issuance of a combination of common shares and flow-through common shares. The common shares to be issued under the offering have been priced at C$3.25 per share and the flow-through common shares have been priced at C$4.38 per share.
Canadian junior miner Kennady Diamonds whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, has completed the bulk sampling program on the Faraday 2 pipe with approximately 265 tons of kimberlite collected from 29 large diameter drill holes. The two reverse circulation drill rigs are now focused on the nearby Faraday 3 kimberlite and have commenced drilling with the target of collecting a 300 ton sample from this pipe. Kennady Diamonds President and CEO, Dr.
Kennady Diamonds Inc., which controls 100 percent of the Kennady North diamond project located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, announced that their bulk sampling of the Faraday 2 kimberlite is progressing well with 12 drill holes completed and 100 tons of kimberlite collected since the program began on January 20. Kennady plans to recover a total of approximately 570 tons of kimberlite from the Faraday kimberlites during the 2017 winter program, including 260 tons from Faraday 2, 300 tons from the Fa
Kennady Diamonds, developer and owner of the Kennady North diamond project in Canada’s Northwest Territories, has announced a maiden indicated Mineral Resource of 13.62 million carats of diamonds contained in 8.50 million tons of kimberlite, with an overall grade of 1.60 carats per ton and an average value of US$63 per carat. The Kelvin kimberlite is located approximately 280 kilometers east-northeast of Yellowknife, and is immediately adjacent to the Gahcho Kué Diamond Mine operated by the De Beers Group and Mountain Province Diamonds Inc.
Kennady Diamonds Inc. has recovered 1,278 carats of diamonds (+0.85mm) from 612 tonnes for a sample grade of 2.09 carats per tonne from its large diameter drilling program focused on the north limb of the Kelvin kimberlite. The miner said the result is very similar to the 2015 bulk sample grade of 2.02 carats per tonne from the south limb. Kennady Diamonds owns 100 percent of the Kennady North diamond project located in Canada's Northwest Territories immediately adjacent to the Gahcho Kué diamond mine currently being operated by De Beers and Mountain Province Diamonds.
Kennady Diamonds Inc. reports that its 2016 winter drilling program was the most successful to date. President and CEO Dr. Rory Moore said: “The 2016 winter drill program was the company’s most successful to date. Highlights include the discovery of the Faraday 3 kimberlite, the subsurface delineation of both Faraday 1 and 3 up to and beyond the shoreline of Faraday Lake, the successful bulk sampling of the Kelvin North Lobe and the successful mini-bulk sampling of Faraday 2. The way is now clear for further land-based drilling at the Faraday kimberlites during the summer.”
Kennady Diamonds Inc. says it has discovered a third kimberlite body at the high-grade Faraday kimberlite cluster following exploration drilling at the Kennady North project. Kennady Diamonds President and CEO, Patrick Evans, commented: “Faraday 3 is the fourth kimberlite body that we have discovered at Kennady North over the past three years.
Kennady Diamonds Inc. has announced the final 2015 diamond recovery results from the Faraday 2 kimberlite at the company’s 100 percent-controlled Kennady North project. A total of 6.4 tonnes of kimberlite was recovered by core drilling at Faraday 2 and a total "commercial" sample grade of 3.04 carats per tone was returned. Kennady Diamonds’ exploration focus is on the 100 percent controlled Kennady North project, located immediately adjacent to the De Beers/Mountain Province Diamonds Gahcho Kué diamond mine in Canada’s Northwest Territories.
Kennady Diamonds Inc. has announced diamond recovery results from the Faraday kimberlites at its Kennady North project. Kennady Diamonds President and CEO Patrick Evans commented: "We are very pleased with these exceptionally high diamond recovery results, which confirm that the Faraday kimberlites have the potential to host high grade diamond resources. The 4.48 carat per tonne sample from Faraday 2 is the highest 'commercial' sample grade recovered to date at the Kennady North project." Kennady Diamonds Inc.
Kennady Diamonds Inc. has announced diamond recovery results from a Kelvin 0.93 tonne sample recovered by core drilling at the Kelvin North Lobe. The sample returned an exceptional sample grade of 3.55 carats per tonne for diamonds of commercial size, the firm said. Kennady Diamonds President and CEO Patrick Evans commented: “Kelvin North Lobe drill samples continue to return outstanding diamond recovery results.
Kennady Diamonds Inc. said the final diamond recovery results from a Kelvin 2.67 tonne sample recovered by core drilling at the Kelvin North Lobe returned an exceptional sample grade of 3.40 carats per tonne for diamonds of commercial size. Kennady Diamonds President and CEO Patrick Evans commented: “Kelvin North Lobe drill samples continue to return outstanding diamond recovery results. Over the course of 2015 we have processed by caustic fusion a total of 12.8 tonnes of core samples from the Kelvin North Lobe, which have returned an average sample grade of 2.79 carats per tonne.
In an interview with Mining Weekly Online addressing the current state of affairs and future outlook throughout the diamond industry, analyst and consultant Paul Zimnisky says he believes Canada was the best-positioned country in the industry given the quality of the current projects. “Looking at the NWT’s Ekati and Diavik mines, for instance, they are still quite profitable projects, even in a weaker price environment.
Diamond industry analyst Paul Zimnisky has published a thorough "State of the Diamond Mining Industry" report as we near the end of 2015 - essential reading, in our opinion. "So far in 2015", writes Zimnisky, "the state of the global has been closely aligned with the posture of the global economy, as it so often is, and should be. The developed nations of the world are growing, but at uninspiring rates... Emerging market growth has slowed... The result in the diamond industry has been an overhang of low-to-medium-quality polished diamonds in the market for about a year now. U.S.
Kennady Diamonds Inc. said the results of a preliminary valuation of diamonds recovered from the Kelvin kimberlite at its Kennady North project in Canada's Northwest Territories found an average price per carat of $56, $70 and $123 for stones from three different zones. WWW International Diamond Consultants (WWW) valued a diamond parcel weighing 989 carats recovered from bulk sampling of the Kelvin kimberlite in Antwerp.
Kennady Diamonds has announced its recovery results from the Kelvin 2015 bulk sample. The five largest diamonds recovered from the Kelvin bulk sample are described by the SRC as:
4.22 carat white/colorless, transparent macle with no inclusions;
3.95 carat brown, transparent aggregate with inclusions;
2.79 carat light brown, transparent aggregate with minor inclusions;
2.63 carat white/colorless, transparent octahedral with inclusions; and
2.59 carat white/colorless, transparent dodecahedron with no inclusions.
Kennady Diamonds Inc. will use the money for exploration, evaluation and permitting programs and for general corporate purposes. The firm controls 100 percent of the Kennady North diamond project located in Canada’s Northwest Territories which is located to the north and west of the Gahcho Kué Diamond mine, a joint venture between Beers Canada and Mountain Province Diamonds.
Kennady Diamonds announced the diamond recovery results from the Faraday 2 2015 spring core drilling program. Approximately 0.93 tonnes of kimberlite returned a sample grade of 1.93 carats per tonne for diamonds of commercial size. Kennady Diamonds CEO Patrick Evans commented: "We are very pleased with these high diamond recovery results, which confirm that the Faraday 2 kimberlite has the potential to host a high grade diamond resource.