MOUNTAIN PROVINCE DIAMNDS - MPVDF STOCK NEWS

Mountain Province Diamonds has reported record financial results for Q3 2022, achieving a revenue of $110.1 million, marking a 12% increase from Q2 2022. The average price per carat sold was US$104, reflecting a 2% increase adjusted for mix sold. EBITDA reached $54.1 million, while net loss stood at $7.2 million due to $26.3 million in unrealized foreign exchange losses. The company has also repurchased $26.9 million in senior secured notes and proposed a refinancing of $190 million in existing notes. Production levels showed improvement despite a decrease in carat recovery year-over-year.

Mountain Province Diamonds (TSX: MPVD, OTC: MPVD) has announced a special shareholder meeting on December 1, 2022, with a record date of October 28, 2022. The meeting aims to discuss potential debt issuance for refinancing senior secured notes, particularly with involvement from major bondholders, including the company's largest shareholder, Dermot Desmond. Any agreement reached will require approval from disinterested shareholders and regulatory bodies.

Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVDF) has announced the details for its Q3 2022 earnings release and conference call. The Company will release financial results on November 8, 2022, after the market closes, followed by a conference call on November 9, 2022, at 11:00 AM EST. The call will last approximately 60 minutes, providing insights on the Company’s operations and financial health. Mountain Province is a key player in the Gahcho Kué diamond mine, holding a 49% stake and managing extensive mineral claims in the surrounding area.

Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVDF) reported a tragic incident at the Gahcho Kué Mine, where an employee from a contractor died on September 1, 2022. The mine, located in the Northwest Territories, is operated in a joint venture with De Beers Group. All non-essential work has been suspended as investigations are ongoing. The company expressed condolences to the deceased's family and provided counseling services to employees. The Gahcho Kué Mine features significant diamond resources, including an estimated 13.62 million carats from the Kelvin kimberlite.

Mountain Province Diamonds (TSX: MPVD, OTC: MPVDF) has announced a significant upcoming sale featuring a 151.60 carat exceptional octahedron diamond recovered from its Gahcho Kué mine in Canada. This sale will showcase the largest offering of +10.8 carat gem-quality diamonds to date, including over 90 individual special rough diamonds. The diamonds will be available for viewing at Bonas Group's offices in Antwerp, Belgium, from September 5 to September 16, 2022. Reid Mackie, Vice President of Diamond Marketing, emphasized the mine's capability to recover high-quality gems.

Mountain Province Diamonds reported its Q2 2022 financial results, showing a significant performance boost. The Company achieved record adjusted EBITDA of C$55.1M and revenues of $97.8M, marking a 16% increase from Q1 2022. A strong average value per carat, at US$130, reflects robust diamond market demand. The firm repurchased US$26.4M of its Senior Secured Notes, enhancing its balance sheet. Despite operational challenges, including a decrease in carats recovered, net income increased slightly to $22.6M, including unrealized foreign exchange losses.

Mountain Province Diamonds has announced successful interim drilling results from the Hearne Northwest Extension at the Gahcho Kué Mine, which ranks among the world's top diamond producers. The drilling program confirmed the presence of kimberlite in over 60% of 14 completed drill holes, with mineralized intersects ranging from 24.3 to 114.5 meters. As a 49% stakeholder in this joint venture with De Beers, the company is planning further drilling to expand the resource base and potentially increase the mine's lifespan, as stated by CEO Mark Wall.

Mountain Province Diamonds Inc. (MPVD) reported a 16% increase in carats sold for Q2 2022, with 586,763 carats sold, resulting in a 14% revenue increase to US$76 million, the second highest in the company's history. However, production faced challenges due to Covid-19 and operational issues, leading to a 29% decrease in carats recovered compared to Q2 2021, totaling 1,260,899 carats. The company revised its FY 2022 guidance, reducing estimated carats recovered from 6.2-6.4 million to 5.6-5.8 million.

Mountain Province Diamonds has announced interim exploration results for the Kennady North Project, covering 107,000 hectares around the Gahcho Kué Diamond Mine. The winter drill program, comprising 6,000 meters, has completed about half. Notably, kimberlite was intersected in 16 of 20 drill holes across 4 target areas. Key highlights include discovering hypabyssal and volcaniclastic kimberlite in the North and South Anomalies. The exploration aims to enhance the diamond production potential and is set to continue into the summer with follow-up programs based on previous results.