Mountain Province Diamonds announced that the Company and Patrick Evans, its President and Chief Executive Officer, have reached a mutual decision that Evans will depart the Company effective immediately, with David Whittle being appointed Interim President and Chief Executive Officer in his place.
Mr. Evans will continue as a director of the Company. Mr. Evans will provide assistance to the Company to facilitate the transitional period.
Mr. Whittle is currently the Lead Outside Director of the Company, and has 25 years of senior executive experience in the mining industry. He has been a director of the Company since 1997, and was President of Mountain Province's joint venture partner, Glenmore Highlands Inc., at the time of the original discovery of Gahcho Kué's 5034 kimberlite pipe in 1995. A Canadian Chartered Professional Accountant (CPA,CA), Mr. Whittle has extensive experience in corporate finance, transactional negotiation and structuring, and operational management, with a strong background in corporate governance.
Jonathan Comerford, Chair of the Board of Directors of the Company, said, "On behalf of the Board, I would like to thank Patrick for his service as CEO of Mountain Province for the past 11 years. He worked tirelessly to bring the Gahcho Kué project to a positive development decision, and has brought the Company to where we are today as a diamond producer and marketer. We appreciate his efforts, and wish him the best in his future endeavors."
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 is the world's largest new diamond mine and projected to produce an average of 4.5 million carats a year over a 12 year mine life.
The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.3 million tonnes grading 1.57 carats per tonne for total diamond content of 53.7 million carats.