Mountain Province Diamonds Announces Second Quarter 2025 Production and Sales Results, Details of Second Quarter 2025 Earnings Release, and Conference Call
Press Release
TORONTO, July 10, 2025 – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPVD) (OTC: MPVD) today announces production and sales results for the second quarter ended June 30, 2025 (“the Quarter” or “Q2 2025”) from the Gahcho Kué Diamond Mine (“GK Mine”). All figures are expressed in Canadian dollars unless otherwise noted.
Q2 Production Takeaways
(all figures reported on a 100% basis unless otherwise stated)
- 708,072 carats recovered, 46% lower than Q2 2024: 1,318,680 carats.
- 0.8 Average grade of carats per tonne, a 41% decrease compared to Q2 2024: 1.37 carats per tonne.
- 134,597 ore tonnes mined; an 86% reduction compared to Q2 2024: 971,311 ore tonnes mined, as all ore treated came from the stockpile.
- 883,739 tonnes treated, a 9% decrease compared to Q2 2024: 965,984 tonnes treated.
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Q2 2025 Production Figures |
|||
|
2025 Q2 |
2024 Q2 |
YoY Variance |
|
|
Total tonnes mined (ore and waste) |
10,444,919 |
7,911,091 |
+32 % |
|
Ore tonnes mined |
134,597 |
971,311 |
-86 % |
|
Ore tonnes treated |
883,739 |
965,984 |
-9 % |
|
Carats recovered |
708,072 |
1,318,680 |
-46 % |
|
Carats recovered (49% share) |
346,955 |
646,153 |
-46 % |
|
Recovered grade (carats per tonne) |
0.80 |
1.37 |
-41 % |
Q2 Sales Results
In the Quarter, 411,114 carats were sold for $36.8 million (US$26.6 million), averaging $90 per carat (US$65 per carat). In Q2 2024, 557,361 carats were sold for $56.8 million (US$41.5 million), averaging $166 per carat (US$124per carat).
Mark Wall, the Company’s President and Chief Executive Officer, commented:
“Q2 is always a very busy time for the operations with the ice-road resupply finalized at the very end of Q1 and the very cold temperatures in the Q1 and Q2 seasons. The annual resupply was completed as planned. The Frechette period then follows which is a challenging time to maintain the roads and manage water in the processing plant. We are now through this period, the roads are in good condition and the processing plant is running well.
On the operations, mining continued to be ahead of plan with 10,444,919 total tonnes mined, which is an improvement of 32% on the same period in 2024. The team are working to continue the strong mining performance in Q3.
In May we mined a small amount of ore from the 5034 North East Extension (NEX) orebody and additional tonnes in June, totalling 34,545 ore tonnes. This is the transitional material at the very top of the NEX orebody, which is blind to surface. This transitional material delivered a much improved grade compared to the stockpile material although the grade in this area was lower than anticipated. We are mining through the transitional zone and expect the grade to further improve as we progress.
While the processing facility continued to perform very well, the low-grade stockpiles being treated resulted in low carat production for the quarter. During Q3 we steadily ramp-up NEX production with approximately 100,000 tonnes in July, 140,000 tonnes in August and 275,000 tonnes in September. NEX tonnes are expected to return to the 100,000 tonne range in October and then return to the 270,000 tonne range going forward.
Earnings Release and Conference Call Details
The Company will host its quarterly conference call on Wednesday August 13th, 2025 at 11:00am ET. Prior to the conference call, the Company will release Q2 2025 financial results on August 12th, 2025 after-market.
Conference Call Dial-in Details:
Title: Mountain Province Diamonds Inc Q2 2025 Earnings Conference Call
Conference ID: 22193
Date of call: 08/13/2025
Time of call: 11:00 Eastern Time
Expected Duration: 60 minutes
Webcast Link: https://app.webinar.net/JoV9gE6XA2e
Participant Toll-Free Dial-In Number: (+1) 888-699-1199
Participant International Dial-In Number: (+1) 416-945-7677
A replay of the webcast and audio call will be available on the Company’s website.
About Mountain Province Diamonds Inc.
Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls more than 96,000 hectares of highly prospective mineral claims and leases surrounding the Gahcho Kué Mine that include an Indicated mineral resource for the Kelvin kimberlite and Inferred mineral resources for the Faraday kimberlites. Kelvin is estimated to contain 13.62 million carats (Mct) in 8.50 million tonnes (Mt) at a grade of 1.60 carats/tonne and value of US$63/carat. Faraday 2 is estimated to contain 5.45Mct in 2.07Mt at a grade of 2.63 carats/tonne and value of US$140/ct. Faraday 1-3 is estimated to contain 1.90Mct in 1.87Mt at a grade of 1.04 carats/tonne and value of US$75/carat. All resource estimations are based on a 1mm diamond size bottom cut-off.
For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company’s website at www.mountainprovince.com.
Qualified Person
The disclosure in this news release of scientific and technical information regarding Mountain Province’s mineral properties has been reviewed and approved by Tom McCandless, Ph.D., P.Geo, and Tysen Hantelmann, P. Eng., independent advisors to the Company and Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mark Wall, President and CEO
151 Yonge Street, Suite 1100
Toronto, Ontario M5C 2W7
Phone: (416) 361-3562
E-mail: info@mountainprovince.com
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