2 November 2020
Mountain Province Diamonds Inc. is pleased to announce the results of its latest diamond sale in Antwerp, Belgium, which closed on October 30th 2020. This is the Company's second commercial sale since the start of the pandemic.
In the latest sale, 559,528 carats were sold for total proceeds of $45.7 million (US$34.3 million) resulting in an average value of $81 per carat (US$61 per carat). This is the Company's largest open market sale to date, a record in both volume and value terms which shows confidence is returning to the rough diamond market.
Stuart Brown, the Company's President and CEO, commented:
"We are pleased with the result of our second post COVID-19 sale despite the ongoing challenges during the pandemic; the interest shown at the sale was excellent and drove the outstanding result. The continued recovery in diamond prices across the categories is positive for the company and indeed the industry. We are encouraged that a positive momentum is building as we enter the all-important traditional retail selling season."