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

Mountain Province Diamonds Corrects Selling Price for Q2 2024

In a recent update, Mountain Province Diamonds Inc. has publicly corrected an error regarding the average selling price for its diamonds in the second quarter of 2024. Initially reported on July 10, 2025, the company stated the average price per carat was CA$166 (approximately US$124). However, this figure was inaccurate, and the corrected average selling price for Q2 2024 stands at CA$102 (around US$74 per carat).

The official announcement clarifies this matter but indicates that all other information contained in the original news release remains unchanged, ensuring no other aspects of the report require correction. This adjustment is crucial for investors and stakeholders focusing on the company’s performance and future prospects.

About Mountain Province Diamonds Inc.

Mountain Province Diamonds, a significant player in the diamond industry, operates in partnership with De Beers Canada at the Gahcho Kué diamond mine, located in Canada's Northwest Territories. The joint venture primarily focuses on the mining, exploration, and potential development of various kimberlites known for their diamond-rich deposits.

The company oversees over 96,000 hectares of mineral claims surrounding the mine, which include an Indicated mineral resource for the Kelvin kimberlite and Inferred mineral resources for the Faraday kimberlites. These resources are estimated to contain significant carats, with Kelvin holding around 13.62 million carats from 8.50 million tonnes, alongside impressive values per carat.

Exploration and Mineral Insights

The Faraday kimberlites also showcase promising estimates, with a noteworthy 5.45 million carats in 2.07 million tonnes at an estimated grade of 2.63 carats per tonne. The continued exploration and assessment of these sites indicate Mountain Province’s commitment to optimizing its resource allocation and maximizing yield potential.

Such corrections and clarifications are vital, particularly in the dynamic landscape of precious metal and diamond trading, where price fluctuations can significantly impact production forecasts and operational strategies.

Market Conditions Affecting Diamond Sales

The accuracy of sales price reports contributes to understanding the competitive landscape of diamond sales and pricing. Given the anticipated fluctuations in market demand and changes in commodity prices, stakeholders must evaluate the implications of these corrections carefully.

Investors and stakeholders are advised to consider the numerous factors that influence diamond pricing today, including supply-demand dynamics, mining yield variability, and global market conditions. The impact of unforeseen events, such as health crises or geopolitical issues, can also distort operational expectations and sales forecasts.

Forward-Looking Statements and Caution

Mountain Province Diamonds has emphasized that this release includes forward-looking statements that could be subject to risks and uncertainties. These statements are based on management's beliefs and assumptions at the time, highlighting the uncertainty in predicting future operational and financial outcomes.

Stakeholders are urged to interpret these projections carefully and remain vigilant about the fluctuating nature of the diamond market and operational risks within the mining industry. As the company progresses, additional insights into production pacing and operational adjustments will continue to emerge, shaping the landscape for investors and industry observers alike.

For those interested in detailed updates and further information about Mountain Province Diamonds and its operations, the company encourages management to review their official communications via their website.

In conclusion, as Mountain Province adheres to transparency and accountability, the rectification of the diamond price marks a critical moment for the company's relationship with its investors. It reflects the need for accuracy in all facets of financial reporting and marketplace communication, reinforcing trust in their operational integrity.