#Canada #Toronto #Q3 2025 #Gahcho Kué #Mountain Province Diamonds

Mountain Province Diamonds Announces Q3 2025 Results

Mountain Province Diamonds Inc., a prominent player in the diamond mining sector, recently released its production and sales results for the third quarter of 2025, ending September 30. This quarter's output reflects a notable shift in performance metrics when compared to the same period last year, offering insights into the company's operational challenges and market conditions.

Production Insights

During Q3 2025, Mountain Province reported the recovery of 1,000,887 carats, representing a 16% decrease from the 1,187,912 carats achieved in Q3 2024. The average grade of carats per tonne also saw a decline, reporting 1.18 carats/tonne, which is a 12% reduction from the 1.24 carats/tonne found in the prior year’s quarter. In terms of mining activity, the company reported that 807,458 tonnes of ore were mined, down 13% from 923,814 tonnes mined in Q3 2024, and 847,024 tonnes treated, reflecting a 12% decrease from 961,371 tonnes treated in the same timeframe last year.

Despite these declines, total tonnes mined, including both ore and waste, increased by 15%, reaching 9,922,231 tonnes compared to 8,603,369 tonnes in Q3 2024, indicating some operational successes in waste stripping and access to ore bodies.

Updated Guidance for 2025

In light of the recent production figures, Mountain Province has updated its 2025 guidance. The company now anticipates recovering between 4.0 million and 4.2 million carats, adjusting downwards from the previous estimate of 4.3 million to 4.7 million carats. This adjustment is attributed to lower-than-expected grades from ore stockpiles treated during the quarter. Moreover, production costs per carat are now projected to be between $125 and $130, significantly higher than the original guidance of $92 to $107 due to reduced recovery rates and increased costs stemming from the release of previously capitalized costs.

Sales Performance and Market Conditions

Sales figures for Q3 2025 showed that 409,081 carats were sold for $29.2 million (approximately US$21.2 million), resulting in an average selling price of $71 per carat (about US$52 per carat). This contrasts starkly with Q3 2024, where 679,599 carats were sold for $69.4 million (approximately US$50.8 million), averaging $102 per carat (about US$75 per carat).

Mark Wall, President and CEO of Mountain Province, noted the challenges of the quarter, highlighting the completion of waste stripping to access higher-grade ore. Mining operations were constrained by logistical issues while focusing on extracting material from the high-grade segment of the 5034-NEX ore body.

Looking ahead, Wall expressed optimism about the future production trends, as the company has recently mined into consistently high-grade material, suggesting a potential increase in carat output for the next quarter and into 2026. However, he acknowledged that improvements in the diamond market are contingent upon resolution of ongoing tariffs and trade negotiations between the United States and India, which have currently limited market dynamics.

Upcoming Financial Call

To discuss these results further, Mountain Province will host a quarterly conference call on November 12, 2025, at 11:00 AM ET. Prior to this, detailed financial results for Q3 2025 will be published on November 11, 2025, after market hours. The upcoming call aims to provide stakeholders with further insights and address questions regarding the company's strategic direction in light of the current market challenges.

For more information about Mountain Province Diamonds Inc. and its future endeavors, please visit their website www.mountainprovince.com.