Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results
Press Release
TORONTO, March 31, 2026 – Mountain Province Diamonds Inc. (“Mountain Province Diamonds”, or the “Company”) (TSX: MPVD) (OTC: MPVD) today announces its financial and operating results for the fourth quarter (“the Quarter” or “Q4 2025”) and the full year ended December 31, 2025 (“FY 2025”).
All figures are expressed in Canadian dollars unless otherwise noted and are unaudited.
FY 2025 Highlights
- 4% improvement in key site safety KPI (TRIFR) in 2025 vs 2024. (Lowest since 2019)
- Adjusted EBITDA1 of $4.8 million, down 95% relative to 2024 (2024: $90.7 million).
- Total sales revenue at $155.7 million (US$111.5 million) compared to $267.7 million in 2024 (US$195.2 million, at an average realized value of $83 per carat (US$59) 2024: $98 per carat (US$72).
- 16% increase in total tonnes mined in 2025 relative to 2024.
- Net loss of $279.5 million or $1.32 loss per share (2024: net loss $80.8 million or $0.38 loss per share. Included in the determination of net loss is an impairment loss on property, plant and equipment of $103 million, a derivative gain of $2.1 million and foreign exchange gain of $13.2 million (2024: derivative loss of $16.8 million and foreign exchange loss of $27.5 million, arising on the translation of the Company’s USD-denominated long-term debt). The unrealized foreign exchange gains are a result of the relative strengthening of the Canadian dollar versus the US dollar.
Operational Highlights for Q4 2025 and FY 2025
(all figures reported on a 100% basis unless otherwise stated)
- 1,861,856 carats recovered during the Quarter at an average grade of 2.15 carats per tonne, 117% higher than the comparable quarter in 2024 (Q4 2024: 890,202 carats at 0.99 carats per tonne), noting that grade was 117% higher in Q4 2025. 4,333,792 carats recovered during FY 2025 at an average grade of 1.23 carats per tonne, 7% lower than the comparable period (full year ended December 31, 2024 (“FY 2024”): 4,661,681 at 1.28 carats per tonne), noting that grade was 4% lower in 2025.
- 842,805 ore tonnes mined during the Quarter, a 45% decrease on the comparable period in 2024 (Q4 2023: 1,537,423). 1,784,860 ore tonnes mined during FY 2025, a 67% decrease from 2024 (FY 2024: 5,379,404).
- 864,298 ore tonnes treated during the Quarter, a 3% decrease on the comparable period in 2024 (Q4 2024: 895,587). 3,520,834 ore tonnes treated during FY 2025, a 3% decrease from 2024 (FY 2024: 3,628,501).
- 8,241,493 total tonnes mined during the Quarter, a 8% decrease on the comparable period (Q4 2024: 8,989,000). 38,701,114 total tonnes mined during FY 2025, a 16% increase from 2024 (FY 2024: 33,388,905).
IBF4
