Stories
The Gahcho Kue diamond mine took 21 years to build, and Dermot Desmond was there for every one of them. It has been an investing odyssey. The mine, first backed by Desmond in the mid-1990s, once promised to be one of the world’s richest. It was forecast to produce CAD$10 billion worth of output over the course of its life. But it hasn’t worked out as hoped. The share price of Mountain Province, the Desmond-backed company which is a 49 per cent owner of the mine, peaked the month it opened in September 2016. Since then the share price is…
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