Dermot Desmond ups stake in Mountain Province as mine’s fortunes turn
The financier has grown his share to 35.4 per cent and offered a $50m loan facility as diamond prices rise and the firm hits a new ‘high-water mark’ for sales
Dermot Desmond has pushed his stake in Mountain Province Diamonds, his Canadian mining company, to more than 35 per cent after spending almost CA$3.5 million on shares.
Desmond’s stake, which he holds through Vertigol, a Dublin-based investment company, has now gone from 33.3 per cent to 35.4 per cent. The businessman has also extended a fresh round of financial support to the company in the form of a US$50 million loan facility.
That gives him ...
