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Gahcho Kué is a Joint Venture between Mountain Province (49%) and De Beers Canada (51%). By funding and completing a bankable feasibility study, De Beers has the right to increase its interest to 55%. Following funding and the completion of construction, De Beers has the right to increase its interest further to 60%, with Mountain Province retaining 40%.
Since March 2000, De Beers has been solely responsible for the financing of the exploration, development, permitting and construction of the project without recource to Mountain Province's balance sheet. In return, De Beers has the right to recover that portion of the project costs carried on behalf of the Joint Venture partners from March 2000 to mine commissioning from 90% of the cash flow. The remaining 10% will be distributed between the partners in proportion to their interest in the joint venture.
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