Mountain Province Diamonds Unveils Q2 2025 Results
Mountain Province Diamonds Inc. (TSX and OTC: MPVD) has announced its production and sales figures for the quarter ending June 30, 2025, from its Gahcho Kué Diamond Mine (GK Mine). The company reported significant insights into its operations that will shape its future endeavors, as detailed below.
Production Highlights for Q2 2025
The latest quarter saw a total recovery of 708,072 carats, which represents a 46% decrease compared to Q2 of the previous year, which had 1,318,680 carats. This reduction is noteworthy as it indicates various operational challenges faced during the quarter.
Key Production Metrics
Breaking down the production figures:
- Average Grade: The average grade was 0.8 carats per tonne, reflecting a 41% decrease from 1.37 carats per tonne in Q2 2024.
- Ore Tonnes Mined: A total of 134,597 ore tonnes were mined, an 86% reduction compared to the previous year’s 971,311 tonnes, with all ore treated sourced from stockpiles.
- Total Tonnes Treated: The company treated 883,739 tonnes during this quarter, a 9% decrease from 965,984 tonnes treated in Q2 2024.
Sales Performance Overview
During Q2 2025, Mountain Province Diamonds sold 411,114 carats, generating revenue of $36.8 million (US$26.6 million). This reflects an average sale price of $90 per carat (US$65 per carat). This is in stark comparison to Q2 2024, where sales were higher at 557,361 carats and total revenue reached $56.8 million.
CEO’s Perspective on Operations
Mark Wall, President and CEO, noted the operational challenges faced during this busy time of year. He highlighted that:
- Due to finalizing ice-road resupply at the end of Q1, considerable cold temperatures posed additional management challenges.
- Despite these difficulties, total tonnes mined improved, with a 32% increase over the same period in 2024.
- Mining efforts have focused on the 5034 North East Extension (NEX) orebody, which yielded improved grade but lower overall than expected.
Future Production Strategies
The processing facility has shown strong performance despite the challenges presented by low-quality stockpiles. Plans for Q3 include ramping up production from NEX, with anticipated increases of 100,000 tonnes in July, reaching up to 275,000 tonnes in September. This strategic approach aims to optimize operations and enhance production efficiency moving forward.
Key Information Regarding Earnings Release
The quarterly conference call will take place to discuss Q2 financial results on the scheduled date. Stakeholders are encouraged to engage during this session to gain insights into the future direction of Mountain Province Diamonds.
About Mountain Province Diamonds
Mountain Province Diamonds Inc. is a key player in the diamond mining sector, holding a 49% interest in the Gahcho Kué diamond mine. This joint venture exhibits substantial mineral resources surrounding the site. With extensive mineral claims, the company is focused on ongoing exploration and development opportunities.
Contact Information
For any queries or further information, please reach out to:
Mark Wall, President and CEO
151 Yonge Street, Suite 1100
Toronto, Ontario M5C 2W7
Phone: (416) 361-3562
Email: info@mountainprovince.com
Frequently Asked Questions
What were the total carats recovered in Q2 2025?
The total carats recovered were 708,072.
How has production changed compared to Q2 2024?
Production decreased by 46% from 1,318,680 carats in Q2 2024.
What was the average sale price per carat in Q2 2025?
The average sale price per carat was $90.
What is the company’s focus for Q3 2025?
The focus will be on ramping up production at the NEX orebody.
Who can be contacted for more information regarding Mountain Province Diamonds?
Mark Wall, the President and CEO, is available for inquiries.
