Mountain Province Diamonds Q3 2025 Production Overview
TSX and OTC: MPVD
Mountain Province Diamonds Inc. ("Mountain Province", the "Company") today shares its production and sales results for the recently concluded third quarter, impacting the Gahcho Kué Diamond Mine operations. All financial figures presented are in Canadian dollars unless otherwise specified.
Key Production Results for Q3 2025
The Company reported significant production metrics for this quarter:
- 1,000,887 carats recovered, reflecting a 16% decrease from 1,187,912 carats in the same quarter last year.
- Average grade of 1.18 carats per tonne, representing a 12% decrease compared to the previous year's average of 1.24 carats per tonne.
- A total of 807,458 ore tonnes mined, a reduction of 13% compared to 923,814 ore tonnes mined in Q3 2024.
- 847,024 tonnes treated, marking a decrease of 12% from the previous year's 961,371 tonnes.
Guidance Update for 2025
As part of the quarterly Management Discussion and Analysis (MD&A), revised guidance has been issued for production and cost metrics for the fiscal year 2025. The revised guidance indicates a range of recovery between 4.0 million to 4.2 million carats, lower than the initially forecasted 4.3 million to 4.7 million carats. This adjustment aligns with the observed lower-grade ore treated.
Regarding production costs, the initial range of $92 – $107 per carat is now elevated to $125 – $130 per carat due to lesser carat recovery and adjustments in capitalized costs. Similarly, the guidance for the cost per tonne treated has shifted from $120 – $137 to $145 – $155.
Sales Results for Q3 2025
During the quarter, 409,081 carats were sold for a total of $29.2 million (equivalent to US$21.2 million), averaging $71 per carat (US$52 per carat). This contrasts starkly with Q3 2024, where 679,599 carats yielded $69.4 million (US$50.8 million), averaging $102 per carat (US$75 per carat).
CEO Mark Wall's Insights
Mark Wall, the Company's President and CEO, remarked on the progress made in Q3 2025. He stated, "This quarter was pivotal as we wrapped up waste stripping over the 5034-NEX orebody and began mining its transitional upper phase. Despite operational challenges due to limited space, our efforts focused on accessing higher-grade sections of the orebody."
He noted the processing grade increased during the quarter, affirming that the efforts to mine into the high-grade material have begun yielding positive results, hinting at significantly improved carat production anticipated for Q4 2025 and beyond.
However, Wall stated that market dynamics remain challenging, particularly due to ongoing trade negotiations that impact diamond pricing.
Earnings Release and Call Schedule
The Company has planned its quarterly conference call on an upcoming Wednesday at 11:00am ET, following the release of Q3 2025 financial results a day earlier after the market closes. Participants can look forward to a detailed discussion regarding financial outcomes and future projections.
For those interested in the call, the conference ID is 41267, and the expected duration will be around 60 minutes.
About Mountain Province Diamonds Inc.
Mountain Province operates as a 49% participant alongside De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Notably, the property hosts multiple kimberlite deposits currently explored for future resource development. The Company also maintains control over extensive mineral claims surrounding the Gahcho Kué Mine.
According to the latest resource estimation, the Kelvin kimberlite is projected to contain approximately 13.62 million carats in 8.50 million tonnes, while the Faraday deposits also exhibit promising resource estimates, bolstering the Company’s output potential in the years to come.
Frequently Asked Questions
What were the production figures for Q3 2025?
In Q3 2025, Mountain Province recovered 1,000,887 carats, a decrease of 16% from the previous year.
What are the revised guidance metrics for 2025?
The company revised its guidance to between 4.0 million to 4.2 million carats recovered for the 2025 fiscal year.
What challenges did the company face in Q3 2025?
The company experienced operational limitations related to the available space for accessing the higher-grade orebody.
When will the earnings call take place?
The earnings call will occur on an upcoming Wednesday at 11:00am ET.
What is the company's stake in the Gahcho Kué diamond mine?
Mountain Province holds a 49% ownership stake in the Gahcho Kué diamond mine, partnering with De Beers Canada.
