24 May 2018
Mountain Province Diamonds Inc. today announces the results of its recently completed fourth diamond tender sale of 2018. Total proceeds from the sale were US$28.3 million (CDN$36.2 million), the highest total for any tender result to date. Market sentiment remained positive coming out of the April holidays and into the fourth selling cycle. Customer participation was healthy with 191 companies attending the tender and an average of 12.4 bids received per lot. Said Reid Mackie, the Company’s Vice President Diamond Marketing, “Our fourth sale results reflect the overall positive sentiment in the rough diamond market, driven by the strong fundamentals of stable rough supply and positive news from the major retail markets. Larger size gem categories again attracted high interest levels from customers, delivering record prices for some on a per carat basis. Prices for the remaining categories of goods generally remained stable, with a marginal market price increase for these goods over our third sale results.”