13 April 2021
Mountain Province Diamonds Inc. today announces production and sales results for the first quarter ended March 31, 2021 from the Gahcho Kué Diamond Mine. All figures are expressed in Canadian dollars unless otherwise noted.
Additionally, the Company is providing the details of its Q1 2021 earnings release and conference call. The Company will release Q1 2021 financial results after market-close on Wednesday May 12th, 2020, with the quarterly conference call on Thursday May 13th, 2021 at 11:00am EST.
Q1 Production Highlights
(all figures reported on a 100% basis unless otherwise stated)
•625,582 ore tonnes treated, a 31% decrease relative to Q1 2020, and a 15% decrease relative to Q4 2020 (Q1 2020: 9,356,785 tonnes treated; Q4 2020, 736,138 tonnes treated)
oAverage processing rate of 9,200 tonnes per day (excluding operational stand-down time), an 7% decrease relative to Q1 2020 (9,917 tonnes per day)
oProcessing plant achieved several days over 11,500 tonnes of feed in closing days of Q1 2021, demonstrating operational flexibility
•1,392,128 carats recovered, 16% lower than comparable quarter (Q1 2020: 1,655,121 carats), impacted by the unplanned 3-week operational stand-down in February
•Average grade of 2.23 carats per tonne, a 22% increase relative to Q1 2020 (1.83 carats per tonne)
•Unplanned 22-day operational stand-down in February due to measures taken to limit spread of Covid-19 at Gahcho Kué