Welcome to our dedicated page for Mountain Prov news (Ticker: MPVDF), a resource for investors and traders seeking the latest updates and insights on Mountain Prov stock.
Mountain Province Diamonds Inc. (MPVDF) operates one of the world's largest diamond mines through its strategic joint venture at Canada's Gahcho Kué Mine. This news hub provides investors and industry observers with essential updates about the company's mining operations, financial performance, and resource management strategies.
Access timely press releases and analysis covering quarterly earnings, mineral resource evaluations, and operational developments. Our curated collection includes updates on diamond recovery rates, environmental initiatives, and partnership milestones with De Beers Canada.
Key content categories include production reports from the Northwest Territories operations, technical updates on kimberlite extraction processes, and strategic decisions affecting the company's position in the global diamond market. All content maintains strict compliance with financial disclosure standards.
Bookmark this page for direct access to verified information about MPVDF's mining activities. Check regularly for new developments impacting the company's role in sustainable diamond production and its contributions to Canada's mining sector.
Mountain Province Diamonds (MPVD) has released its Q1 2025 production and sales results from the Gahcho Kué Diamond Mine. The quarter saw 762,978 carats recovered, marking a 40% decrease from Q1 2024. Production metrics showed significant changes with a 48% decrease in grade to 0.82 carats per tonne and zero ore tonnes mined as all ore treated came from stockpiles.
Total tonnes mined increased by 28% to 10,092,47 tonnes, while ore tonnes treated rose 15% to 925,773 tonnes. Sales performance showed 426,268 carats sold for $44 million (US$30.7 million), averaging $103 per carat. The company is currently focused on stripping waste to access the high-grade NEX orebody, expected by the end of Q2.
Mountain Province Diamonds (MPVD) has released its financial and operating results for Q4 and full-year 2024. The company faced significant challenges with total sales revenue declining to $267.7 million from $328.6 million in 2023, while reporting a net loss of $80.8 million ($0.38 per share).
Key operational metrics showed mixed results, with a 41% increase in ore tonnes mined and 12% increase in tonnes treated, but diamond recovery decreased to 4.66 million carats at 1.28 carats per tonne, down 16% from 2023. The average realized diamond price dropped to $98 per carat from $121 in 2023.
Notable achievements include a 60% improvement in safety performance and record processing plant throughput of 3.63 million tonnes. The company recently completed a refinancing transaction to address bonds due in 2025, positioning for expected higher production in 2026 when the high-grade NEX orebody comes online.
Mountain Province Diamonds (TSX: MPVD) has successfully completed its previously announced refinancing transactions. The company has secured a US$20M bridge credit facility from Dunebridge Worldwide and received 100% approval from holders of its Second Lien Notes for restructuring.
Key aspects of the refinancing include addressing reclamation liabilities owed to De Beers (GK Mine operator), providing capital for the 2025 near cash flow deficit, and extending Second Lien Notes maturity to December 2027. The amended terms include deferring the next interest payment to June 15, 2026, with an increased interest rate of 9.6075% on the US$177 million outstanding notes.
The Toronto Stock Exchange has granted the company an exemption from disinterested security holder requirements, but consequently placed MPVD's common shares under delisting review, with continued listing not guaranteed.
Mountain Province Diamonds (TSX: MPVD) announced its Q4 and full-year 2024 production and sales results. In FY 2024, the company sold approximately 2.7 million carats at an average value of $98 per carat, generating total proceeds of $267.7 million, compared to $328.6 million in FY 2023.
Production highlights include 4.66 million carats produced against guidance of 4.2-4.7 million carats, with ore mined at 5.4 million tonnes exceeding guidance of 4.1-4.6 million tonnes. The company achieved record processing plant performance of 3.63 million tonnes.
The company faced challenges with lower diamond prices in 2024, with average realized price dropping to $98 per carat from $121 in 2023. The mine achieved its best safety performance with a 60% improvement in TRIFR. Looking ahead, 2025 production is expected to remain similar to 2024, with significant production increase anticipated in 2026 from the NEX orebody.
Mountain Province Diamonds Inc. (TSX: MPVD) (OTC: MPVD) has released its Q3 2024 production and sales results for the Gahcho Kué Diamond Mine. Key highlights include:
- 1,187,912 carats recovered, 10% less than Q3 2023
- Average grade of 1.24 carats per tonne, 18% less than Q3 2023
- 923,814 ore tonnes mined, 4% more than Q3 2023
- 961,371 ore tonnes treated, 10% more than Q3 2023
Q3 2024 sales totaled 679,599 carats for $69.4 million (US$50.8 million), averaging $102 per carat. The company maintains its 2024 production guidance of 4.2 - 4.7 million carats recovered, expecting to finish in the mid to upper portion of the range. The Q3 2024 earnings release is scheduled for November 6, 2024, with a conference call on November 7, 2024.
Mountain Province Diamonds Inc. (TSX: MPVD) (OTCQX: MPVD) has announced the filing of a technical report for its Gahcho Kué Diamond Mine. The report, titled "Gahcho Kué Mine NI 43-101 Technical Report," has an effective date of April 22, 2024, and provides an updated life of mine plan along with revised Mineral Resource and Reserve estimates.
The 2024 Technical Report, prepared in accordance with National Instrument 43-101, supports the disclosure made in the Company's August 21, 2024 news release. It was prepared by independent Qualified Persons Tysen Hantelmann and Mike Makarenko. The report is now available on SEDAR+ and the Company's website, offering comprehensive information on the mine's resources, reserves, and future operational plans.
Mountain Province Diamonds Inc. has announced an updated life of mine plan and mineral resource/reserve estimate for the Gahcho Kué Mine. Key highlights include:
- Mountain Province's 49% share of operating cash flow from remaining open pit mining is estimated at $626 million
- Ore processing is now estimated to finish in early 2031, extended from 2030
- Total diamond recovery from 2024-2031 is estimated at 36.3 million carats, up from 30.8 million previously
- Updated mineral reserves of 23.6 Mt at 1.47 carats/tonne for 34.6 million carats
- Indicated mineral resources of 24.7 Mt at 1.57 carats/tonne for 38.8 million carats
The updated plan reflects engineering work to steepen pit walls, allowing additional kimberlite to be mined. A supporting NI 43-101 technical report will be filed within 45 days.
Mountain Province Diamonds (TSX: MPVD) (OTC: MPVD) announced Q2 2024 production and sales results from the Gahcho Kué Diamond Mine. Key highlights include:
- 1,318,680 carats recovered, down 2% year-over-year
- Average grade of 1.37 carats per tonne, 24% lower than Q2 2023
- 971,311 ore tonnes mined, up 63% year-over-year
- 965,984 ore tonnes treated, up 29% year-over-year
Sales results show 557,361 carats sold for $56.8 million (US$41.5 million), averaging $102 per carat. The diamond market remains soft, with lower-than-expected demand from China. The company will release Q2 2024 financial results on August 7, 2024, followed by a conference call on August 8, 2024.
Mountain Province Diamonds Inc. announces its financial results for the first quarter of 2024, reporting 938,000 carats sold with proceeds of $89.4 million, adjusted EBITDA of $50.0 million, and net income of $6.8 million. Operational highlights include 805,557 ore tonnes treated, 1,264,887 carats recovered, and an average grade of 1.57 carats per tonne. Sales comparisons show a decrease in carats sold and average price per carat from Q1 2023. The company's President expects positive changes in the mine plan to boost future results.
