Mountain Province Diamonds Announces Third Quarter 2024 Production and Sales Results, Details of Third Quarter 2024 Earnings Release and Conference Call

17 October 2024

TORONTO, Oct. 17, 2024 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTC: MPVD) today announces production and sales results for the third quarter ended September 30, 2024 ("the Quarter" or "Q3 2024") from the Gahcho Kué Diamond Mine ("GK Mine"). All figures are expressed in Canadian dollars unless otherwise noted.

Q3 2024 Production Takeaways (all figures are reported on a 100% basis unless otherwise stated)

  • 1,187,912 carats recovered, 10% less than Quarter 3 2023 (Q3 2023: 1,326,160 carats)
  • Average grade of 1.24 carats per tonne, 18% less than Q3 2023 (Q3 2023: 1.51 carats per tonne)
  • 923,814 ore tonnes mined, 4% more than Q3 2023 (Q3 2023: 887,695 ore tonnes mined)
  • 961,371 ore tonnes treated, 10% more than Q3 2023 (Q3 2023: 877,617 tonnes treated)

Q3 2024 Production Figures

      
       
 

2024 Q3

     2023 Q3

YoY Variance

Total tonnes mined (ore and waste)

8,603,369

      9,145,849

    -6 %

Ore tonnes mined

  923,814

         887,695

    4 %

Ore tonnes treated

  961,371

         877,617

   10 %

Carats recovered

1,187,912

      1,326,160

  -10 %

Carats recovered (49% share)

  582,077

        649,818

  -10 %

Recovered grade (carats per tonne)

    1.24

        1.51

  -18 %

 

Q3 2024 Sales Results

During the Quarter, 679,599 carats were sold for total proceeds of $69.4 million (US$50.8 million), resulting in an average price of $102 per carat (US$75 per carat). These results compare to Q3 2023 when 478,653 carats were sold for total proceeds of $60.2 million (US$45.3 million), resulting in an average price of $126 per carat (US$95 per carat).

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