Mountain Province Rebounds after Liquidity Woes

By John Jeffay / August 05, 2021 / www.idexonline.com / Article Link

(IDEX Online) -  Mountain Province bounced back from a loss of $18.3m last Q2 to a net income of $21.4m in the corresponding period for 2021. The Canadian miner, which jointly operates Gahcho Ku?? (C) (pictured), in Northwest Territories, with De Beers, agreed a short-term $33m loan last year with Irish billionaire Dermot Desmond, to ease its "near term liquidity needs". It has since recovered, with the return of global demand returns and the lifting of many Covid restrictions.Stuart Brown, president and CEO said: "Gahcho Kue has rebounded well from a difficult start to the year, with production on-track to meet our guidance. "The return to expected levels of production, combined with the strong market recovery we've seen in the first half of the year bodes well for our revenue and cash generation into the second half of the year."

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok