# Diamonds Mining News in Canada Canonical page: https://atlas-extractions.minestarters.com/news?commodities=diamonds®ions=canada Atlas summarizes and classifies mining-industry stories from third-party publishers. Follow each source link for the original reporting. Results: 4 Returned: 4 Coverage: drill results, resource updates, and metallurgy; primary commodity matching; all time unless dates are supplied. Region: Canada (canada) Commodity: Diamonds (diamonds) Applied filters: {"regions":["canada"],"commodities":["diamonds"],"commodity_scope":"primary","document_types":["drill_results","resource_update","metallurgy"],"document_type_match":"any"} Sort: published_at desc Offset: 0; page size: 10 ## Mountain Province Diamonds Announces First Quarter Financial Results for 2026 - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7) · [Markdown](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7.md) - Original announcement: 2026-05-12T21:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Mountain Province Diamonds Inc. (MPVD) - Original source: [tmx](https://money.tmx.com/en/quote/MPVD/news/5275323735981842/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026) - Atlas sentiment: -0.277 - Atlas tags: None Mountain Province Diamonds announced Q1 2026 financial and operational results, highlighting a record 2.0 million carats recovered at an average grade of 2.64 carats per tonne, a significant increase year-over-year. However, these operational gains were offset by a substantial drop in average diamond sales prices to US$34 per carat, resulting in a net loss of $65.1 million and negative Adjusted EBITDA. The company has paused waste stripping to conserve cash and is engaging with stakeholders due to a challenging financial environment. ## Mountain Province Diamonds Announces First Quarter Financial Results for 2026 - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--ff4d10ca-9199-4b25-9fb6-171721e883eb) · [Markdown](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--ff4d10ca-9199-4b25-9fb6-171721e883eb.md) - Original announcement: 2026-05-12T21:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Mountain Province Diamonds Inc. (MPVD) - Original source: [tmx](https://money.tmx.com/en/quote/MPVD/news/8944107585693209/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026) - Atlas sentiment: -0.245 - Atlas tags: None Mountain Province Diamonds reported record operational performance in Q1 2026 at its Gahcho Kué Mine, with a 163% increase in carats recovered and a 222% increase in average grade compared to Q1 2025. Despite these gains, the company experienced a substantial drop in average diamond sales price, leading to a net loss of $65.1 million and a challenging financial environment. Management is actively engaging with stakeholders to preserve liquidity and address the impact of sustained weakness in diamond pricing. ## Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results--3775e6a2-8b16-4c18-b379-3bbe9b493214) · [Markdown](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results--3775e6a2-8b16-4c18-b379-3bbe9b493214.md) - Original announcement: 2026-04-01T01:38:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Mountain Province Diamonds Inc. (MPVD) - Original source: [tmx](https://money.tmx.com/en/quote/MPVD/news/8037412216184932/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results) - Atlas sentiment: -0.351 - Atlas tags: None Mountain Province Diamonds reported a challenging full-year 2025 with a net loss of $279.5 million and a 95% decrease in Adjusted EBITDA. Although Q4 2025 saw a material improvement in recovered carats and grade due to accessing higher-grade ore, full-year production and grade were lower than 2024, and cash costs increased. The company also highlighted difficult diamond market conditions and the pausing of the Tuzo Phase 3 project. ## Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results--a49a8800-f43d-4148-bcd7-833075e80b6d) · [Markdown](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results--a49a8800-f43d-4148-bcd7-833075e80b6d.md) - Original announcement: 2026-04-01T01:38:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Mountain Province Diamonds (MPVD) - Original source: [tmx](https://money.tmx.com/en/quote/MPVD/news/7300228663423890/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2025-results) - Atlas sentiment: -0.263 - Atlas tags: None Mountain Province Diamonds announced its full year and fourth quarter 2025 results, reporting a significant increase in recovered grade and carats in Q4 2025, driven by access to higher-grade ore. However, the full year saw a decrease in recovered carats and grade, alongside a substantial net loss of $279.5 million and a 95% drop in Adjusted EBITDA compared to 2024. The company noted challenging diamond market conditions and increased cash costs of production for the year. # Atlas tag definitions - **Bonanza Intercept:** Exceptionally high-grade zone, well above the deposit-type norm. - **Metal Equivalent Opaque:** Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. - **True Width Disclosed:** Actual thickness perpendicular to structure is stated, not just downhole length. - **Apparent Width Only:** Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. - **QA/QC Disclosed:** Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates). - **Compositing Transparent:** Cut-off grade and internal dilution rules are clearly stated for reported intervals. - **No QA/QC Disclosure:** Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Step-Out Extension:** Mineralization extended beyond the previously known limit. - **Infill Drilling:** Confirmatory drilling to raise resource confidence, not new discovery. - **Stale Data Re-release:** Historical results re-announced with no new assays or reinterpretation — low genuine novelty. - **Deleterious Elements Present:** A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Nearology Play:** Value premise rests on proximity to a known deposit rather than own results. - **Measured Resource:** Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. - **Indicated Resource:** Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. - **Proven Reserve:** Measured Resource with demonstrated economic viability after applying modifying factors. - **Probable Reserve:** Indicated Resource with demonstrated economic viability after applying modifying factors. - **Inferred Resource:** Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. - **All Inferred:** M&I share below the weak bound — very early stage, no engineering confidence. - **Tonnage Growth:** Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. - **Grade Improvement:** Average resource grade improved vs prior estimate — better deposit economics. - **Contained Metal Growth:** True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. - **Category Upgrade:** Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. - **Tonnage Decline:** Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. - **Grade Decline:** Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. - **Contained Metal Decline:** Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. - **Category Downgrade:** Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning. - **Dilutive Growth:** Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion. - **Cut-off Lowered:** Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Stale Estimate:** Effective date is >2 years old — data currency concern, may not reflect current geological understanding. - **QP/CP Signed:** Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience. - **Cut-off Disclosed:** Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. - **JORC Compliant:** Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard. - **NI 43-101 Compliant:** Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard. - **Historical Estimate Only:** Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. - **No Contained Metal:** Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. - **No QP/CP Disclosure:** No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. - **Maiden Resource:** First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. - **Resource Update:** Revised estimate for an existing resource — compare to prior to assess progress. - **PEA-Supporting:** Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. - **PFS-Supporting:** Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. - **DFS-Supporting:** Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. - **High Recovery:** Recovery at or above the exceptional band for the commodity and processing route. - **Pilot Scale Complete:** Pilot or demonstration plant testing completed under continuous operation. - **Free Milling:** Simple, clean ore amenable to standard processing without oxidation. - **Multi-Domain Tested:** Variability across ore domains (oxide, transition, fresh) has been addressed. - **Recovery Improving:** Recovery improved versus a like-for-like prior test program on the same domain and route. - **Low Recovery:** Recovery below the weak band for the commodity and processing route. - **Bench Scale Only:** Only preliminary bench tests completed — no locked-cycle or pilot work. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Single Domain Only:** Testing limited to one composite or domain — representativeness not established. - **Recovery Stagnant:** No improvement across multiple test programs on comparable material. - **Theoretical Recovery Only:** Only theoretical or liberation-derived recovery reported, with no actual test result. - **Heap Leach Route:** Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. - **Mill Route:** Processing via mill or concentrator (CIL, CIP, tank leach, flotation). - **Gravity Route:** Gravity separation forms a material part of the flowsheet. - **POX/BIOX Route:** Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX. - **Byproduct Commodity:** The tested commodity is a byproduct rather than the primary economic driver. - **DFS Bankable:** AACE Class 2-1 study complete and within the staleness window. - **PFS Complete:** AACE Class 3 study complete. - **PEA Only:** Only Class 4 / Initial Assessment economics available. Not bankable. - **No Study:** No formal economic study — no engineering basis for the economics quoted. - **Stale Study:** Beyond the staleness window measured from the estimate base date. - **Inferred Heavy Feed:** Material Inferred share of LOM mill feed, or the share is undisclosed. - **Resource Governance Undisclosed:** No QA/QC, top-cut methodology or QP independence disclosed. Caps study quality at the moderate tier. - **NPV Cut vs Prior Study:** A restated study reduces NPV materially against its own predecessor on the same asset. - **High IRR:** Post-tax real unlevered IRR in the strong tier or better. - **Low IRR:** IRR below the moderate tier. - **Below Jurisdiction Hurdle:** IRR below the greenfield or brownfield hurdle for its jurisdiction tier. - **IRR Basis Undisclosed:** Real vs nominal not stated, so the tier is not comparable across studies. - **Undervalued PNAV:** Funding-adjusted P/NAV in the strong tier or better. - **Overvalued PNAV:** Funding-adjusted P/NAV in the red-flag tier. - **Fast Payback:** Payback in the strong tier or better, on the required basis. - **Slow Payback:** Payback in the weak tier or worse. - **Bottom Quartile Cost:** P0-25 of the relevant commodity cost curve. - **Top Quartile Cost:** P75-100 of the relevant commodity cost curve — first to cut in a downturn. - **Cost Basis Undisclosed:** By-product vs co-product not stated, so quartile placement is unreliable. - **Low Capital Intensity:** Below the benchmark for its project type. - **High Capital Intensity:** Above the benchmark for its project type. - **Conservative Pricing:** Conservative on the worst of the spot, 3-year and consensus comparisons. - **Aggressive Pricing:** The study only works on a stretched price deck. - **No Price Sensitivity:** No price sensitivity disclosed — treated as a deliberate signal, not a neutral gap. - **No Discount Rate Sensitivity:** Blocks NPV normalisation to the common rate without reconstruction. - **Price Deck Unstructured:** Prices given only as free text, so conservatism cannot be scored. - **Long Reserve Life:** Reserve life index in the top tier of the single ladder. - **Short Reserve Life:** Reserve life index in the critical tier. - **Resource Life Upside:** Wide gap between reserve life and resource life — conversion upside rather than discovery dependence. - **Fully Funded:** Funding coverage at or above 1.0x counting committed facilities only. - **Material Funding Gap:** Funding coverage below the substantially-funded band. - **Funding Gap Exceeds Market Cap:** Red flag regardless of headline NPV — the upside is not reachable by the current equity holder. - **Encumbered by Stream:** An existing stream or royalty reduces attributable NAV and restricts future financing. - **Stability Agreement:** Fiscal terms fixed, with a term covering the mine life. - **High Government Take:** Total government take above the regional norm as a share of pre-tax cash flow. - **Fully Permitted:** Key permits granted with no unresolved challenge. - **Permit Challenge Outstanding:** An appeal or legal challenge is unresolved, which can defer first production indefinitely. - **No Community Agreement:** Permits held but no IBA or benefit agreement — the start date is unsupported. - **Closure Underprovisioned:** Closure provision materially below peers, unfunded, or undisclosed. - **Upstream TSF:** Upstream tailings construction, which is banned in Brazil and Ecuador.