Mountain Province Diamonds is engaged in the exploration and production of diamond properties in the Northwest Territories of Canada. Co. is in the process of developing and permitting its mineral properties and has not yet determined whether these properties contain mineral resources that are economically recoverable. Co has not achieved profitable operations and continues to be dependent upon its ability to obtain external financing to meet its liabilities. Co.'s ability to continue operations is dependent on the successful permitting, Co.'s ability to obtain necessary financing and the future production or proceeds from developed properties.
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