Mountain Province Diamonds Inc. Production and Sales Overview
Mountain Province Diamonds Inc. (TSX: MPVD) recently announced its production and sales results for the third quarter of 2025, highlighting key performance indicators from the Gahcho Kué diamond mine.
Q3 2025 Production Highlights
The company reported recovery of 1,000,887 carats, reflecting a 16% decline compared to the same quarter in the prior year, where 1,187,912 carats were recovered. The average grade also decreased by 12%, dropping from 1.24 carats per tonne to 1.18 carats per tonne.
In terms of ore mined, a total of 807,458 tonnes were extracted, which is down by 13% from 923,814 tonnes in Q3 2024. The tonnes treated also saw a decrease, totaling 847,024, a 12% decline compared to 961,371 tonnes treated in the same period last year.
Q3 2025 Production Figures
Let’s delve into the production figures for Q3 2025:
- Total tonnes mined (ore and waste): 9,922,231, up 15% from 8,603,369 tonnes.
- Ore tonnes mined: 807,458, representing a 13% decrease from 923,814 tonnes.
- Ore tonnes treated: 847,024, down by 12% from the previous year.
- Carats recovered: Total of 1,000,887, reflecting a 16% decrease year-over-year.
- Recovered grade: 1.18 carats per tonne, down by 4% from 1.24 carats per tonne in the prior year.
Guidance Update for 2025
In their quarterly Management Discussion and Analysis, Mountain Province has updated its guidance targets for the fiscal year 2025. The revised forecast for carats recovered is now projected to be between 4.0 million and 4.2 million, down from the initial estimate of 4.3 million to 4.7 million. This change is attributed to lower than expected grades from the ore stockpile material.
Furthermore, production costs per carat are expected to range between CAD 125 to CAD 130, higher than the originally anticipated cost range of CAD 92 to CAD 107 per carat due to the shift in operational dynamics.
Sales Results in Q3 2025
During the quarter, 409,081 carats were sold for CAD 29.2 million (approximately USD 21.2 million), translating to an average of CAD 71 per carat (around USD 52 per carat). This represents a noticeable decline in sales compared to Q3 2024, where 679,599 carats were sold for CAD 69.4 million (about USD 50.8 million), achieving an average of CAD 102 (USD 75) per carat.
Words from the President and CEO
Mark Wall, President and CEO of Mountain Province commented, "This third quarter has been crucial for our operations. We successfully completed the waste stripping to access the higher-grade orebody and mined the transitional phase of the 5034-NEX orebody, essential for our production strategy moving forward."
He further noted, "Despite a slight decrease in tonnes processed during Q3, we have progressed into the higher-grade 5034-NEX material successfully, which is expected to enhance our carat production significantly in Q4 2025 and into 2026."
Upcoming Earnings Conference Call
Mountain Province Diamonds will host its quarterly earnings conference call on Wednesday, November 12, 2025, at 11:00am ET. Prior to this call, financial results will be released on November 11, 2025.
About Mountain Province Diamonds Inc.
Mountain Province Diamonds Inc. is a significant player in the diamond industry, operating the Gahcho Kué diamond mine in collaboration with De Beers. They also control expansive mineral claims in the Northwest Territories, anticipating substantial resources within their exploration zones.
Frequently Asked Questions
What were the production results for Q3 2025?
In Q3 2025, Mountain Province Diamonds recovered 1,000,887 carats, a 16% decrease from the previous year.
How has the production guidance changed for 2025?
The revised guidance for carats recovered now stands between 4.0 and 4.2 million, down from 4.3-4.7 million previously.
What were the sales figures for Q3 2025?
During Q3 2025, the company sold 409,081 carats for CAD 29.2 million, averaging CAD 71 per carat.
When is the next earnings conference call?
The earnings conference call is scheduled for November 12, 2025, at 11:00am ET.
What is the current status of the Gahcho Kué diamond mine?
The mine is operational, with Mountain Province actively mining higher-grade ore to boost production.