Mountain Province Faces Nasdaq Delisting

RAPAPORT... Mountain Province has been given six months toraise its share price or it will no longer be eligible to list on the Nasdaqstock exchange, it said Tuesday. The Canada-based miner's stock is currently valued at$0.97, below the minimum bid price of $1 per share required for maintaining aspot on the exchange. It received the warning because its price had fallen below that level for more than 30 consecutive business days. In its compliance notice, Nasdaq granted Mountain Province until February 10 to reach that threshold, Mountain Province explained. Once that level is achieved, it must bemaintained for 10 consecutive trading days in order to be considered effective.If the miner fails to achieve compliance within the six-month period, or if itsprice should not hold for 10 consecutive days once it reaches the $1 mark, itmay apply for additional time to regain compliance with Nasdaq's listing rules. Mountain Province's stock fell from $1.11 per share on June26 amid ongoing challenges in the market, including an oversupply in the midstream,tightened credit to Indian manufacturers, and a slowdown in the market causedby the US-China trade war. The Nasdaq notice does not affect the company's listing onthe Toronto Stock Exchange, the miner noted. Mountain Province owns 49% of the Gahcho Ku?(C) mine in Canada,with the remainder held by De Beers. Image: The Gahcho Ku?(C) mine. (Mountain Province)