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by Will Purcell

The critical and specialty minerals box score for Tuesday was a weak 65-110-135 as the TSX Venture Exchange fell five points to 1,032. Dermot Desmond and Jonathan Comerford's wobbly diamond miner, Mountain Province Diamonds Inc. (MPVD), opened at seven cents then recovered, ending the day down one-half cent at 8.5 cents on 1.09 million shares.

The move followed the company's first news since November, when Mark Wall resigned as president and chief executive officer, and the company amended its working capital facility provided by Dunebridge Worldwide Ltd., a private company owned by Mr. Desmond, Mountain Province's major shareholder. Today, Mountain Province said that as part of its cost saving measures, it would not replace Mr. Wall. Instead, Mr. Comerford, Mountain Province's chairman, will also serve as its acting president and CEO.

With the administrative nicety out of the way, Mr. Comerford and his crew got down to dolloping out the latest bad news. Mountain Province, he says, has received three in-kind election notices from De Beers, its majority co-venturer and the operator of the Gahcho Kue mine in the Northwest Territories. The cash calls from De Beers sum to nearly $49.2-million before accruing default interest, and a payment of $38.85-million comes due in mid-March, with unspecified weekly payments required thereafter.

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