Past year: ▼ 73%(0.05c – 6.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
5 Apr 2007business combination▲ GoodMajor
On 4 April 2007 the company took up 8,891,772 Camphor shares under its take-over bid, bringing its holding to 13,884,522 shares, about 93.3% of Camphor, and extended the offer to 16 April. If the bid succeeds the company would control 49% of the Gahcho Kue venture (44.1% direct plus Camphor's 4.9%).
27 Mar 2007drilling progress report▲ GoodMajor
Preliminary 2007 winter drilling shows the Tuzo pipe flaring to depth, a material increase in volume to 300 m depth according to the company, and geology of the 5034 East and North lobes looks continuous. This cuts the sample needed from the North Lobe to 100 carats (from 500 previously estimated), and the venture is considering large-diameter drilling in summer 2007 instead of winter 2008. It also notes a take-over bid for the rest of Camphor was mailed on 23 February 2007.
6 Feb 2007drilling progress report▼ BadMajor
A bundle of releases from Dec 2006 to Jan 2007. The main points: a proposed C$30M 2007 work program (26 Tuzo core holes, 8,400 m); bulk sampling at Tuzo and 5034 North Lobe delayed to 2008 because no contractor would do the large-diameter drilling; the board said it was 'deeply concerned' and referred to the 'failure of the 2006 bulk sampling program'; De Beers agreed to a standstill (no more shares or unsolicited bid) until 31 Dec 2007 while holding about 5.5%. The 11 January release gives 2006 drill results described as in line with expectations (table truncated in the text provided).
6 Oct 2006drilling progress report● Neutral
Interim results of the 2006 drilling: all 31 core holes were completed, including two extra Tuzo holes added because results were described as encouraging. Two Tuzo holes hit kimberlite earlier than expected, and most micro-diamond results were still pending. The release says the project was referred to an Environmental Impact Review in June 2006 and De Beers sought judicial review in July 2006, with full production still projected for 2012.
27 July 2006drilling progress report● Neutral
A summer drill campaign started at Gahcho Kue, run by De Beers, to finish four core holes left over from the 2005/06 winter program: two in the Tuzo pipe (plus one for geotechnical purposes) and one in the 5034 North Lobe. It is routine follow-up drilling on the existing project.
24 July 2006business combination▲ GoodMajor
On 24 July 2006 the company completed the Camphor purchase announced on 5 July, issuing 1,944,868 new shares for about 33.5% of Camphor; shares outstanding rose from 53,630,847 to 55,575,715. Joint venture stakes stayed at 44.1% (company), 4.9% (Camphor) and 51% (De Beers).
5 July 2006business combination▲ GoodMajor
On 5 July 2006 the company agreed to buy 4,892,750 shares (about 33.5%) of Camphor Ventures, its partner in the Gahcho Kue joint venture, by issuing 1,944,868 of its own shares (39.75 for every 100 Camphor shares). At the time Mountain Province held 44.1% of the venture, Camphor 4.9% and De Beers (operator) 51%.
