# Mountain Province Diamonds Announces First Quarter Financial Results for 2026 Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7 Original source: https://money.tmx.com/en/quote/MPVD/news/5275323735981842/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026 Publisher: tmx Original announcement: 2026-05-12T21:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Mountain Province Diamonds Inc. - Ticker: MPVD - Exchange: TSX - Region: Canada's Northwest Territories - Primary commodity: Diamonds - Secondary commodities: None reported - Document categories: Production, Resource update - Extracted: 2026-09-18 10:53:09 UTC Narrative sentiment: -0.30 · Bearish ## Minestarters Atlas summary 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. Reasoning: Mountain Province Diamonds reported record diamond recovery and significantly higher grades for Q1 2026, but these positive operational results were overshadowed by a substantial decline in diamond prices, leading to a net loss and negative Adjusted EBITDA, prompting a pause in waste stripping and engagement with stakeholders regarding liquidity. - Positive factor: Record carats recovered for the quarter - Positive factor: Significantly higher average grade - Positive factor: Lower cash costs per carat recovered compared to prior year - Negative factor: Significant decline in average diamond sales price - Negative factor: Net loss and negative Adjusted EBITDA - Negative factor: Decision to pause waste stripping to conserve cash - Negative factor: Operating in a highly constrained and challenging financial environment - Negative factor: Geopolitical uncertainty weighing on demand and pricing Facts used in scoring: 34 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7#fact-resource-facts-31) Kelvin kimberlite · diamonds Historical result Needs review: historical\_restatement #### Identity - Project: Kelvin kimberlite - Commodity: diamonds - Ticker: MPVD #### Resource scope - Estimate type: resource - Effective date: 2019-02-01T00:00:00.000Z - QP Signed: Yes - Qualified person names: Tom McCandless - Resource group id: resource:d9e47aa85f2a05d13351 #### Resource Data - Category: indicated - Tonnes: 8500000 - Grade: 1.6 - Grade Unit: carats/tonne - Contained Metal: 13.62 - Contained Unit: mct - Cutoff Grade: 1 - Cutoff Unit: mm #### Prior Estimate - Resource Date: 2019-02-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: The Kelvin kimberlite has an historical Indicated mineral resource estimate from February 2019, containing 13.62 Mct at a grade of 1.60 carats/tonne. - Positive factor: Indicated resource category - Negative factor: Estimate is historical \(February 2019\) Evidence · text > Kelvin is estimated to contain 13.62 million carats \(Mct\) in 8.50 million tonnes \(Mt\) at a grade of 1.60 carats/tonne and value of US$63/carat, at February 2019. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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. Why it applies: qp\_signed is true **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7#fact-resource-facts-32) Faraday 2 kimberlite · diamonds Historical result Needs review: historical\_restatement #### Identity - Project: Faraday 2 kimberlite - Commodity: diamonds - Ticker: MPVD #### Resource scope - Estimate type: resource - Effective date: 2019-02-01T00:00:00.000Z - QP Signed: Yes - Qualified person names: Tom McCandless - Resource group id: resource:77b25eafeec6f6e34612 #### Resource Data - Category: inferred - Tonnes: 2070000 - Grade: 2.63 - Grade Unit: carats/tonne - Contained Metal: 5.45 - Contained Unit: mct - Cutoff Grade: 1 - Cutoff Unit: mm #### Prior Estimate - Resource Date: 2019-02-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: The Faraday 2 kimberlite has an historical Inferred mineral resource estimate from February 2019, containing 5.45 Mct at a grade of 2.63 carats/tonne. - Negative factor: Inferred resource category - Negative factor: Estimate is historical \(February 2019\) Evidence · text > Faraday 2 is estimated to contain 5.45Mct in 2.07Mt at a grade of 2.63 carats/tonne and value of US$140/ct, at February 2019. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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. Why it applies: qp\_signed is true **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mountain-province-diamonds-announces-first-quarter-financial-results-for-2026--fd327055-743d-4e44-9749-63a64b9135e7#fact-resource-facts-33) Faraday 1-3 kimberlite · diamonds Historical result Needs review: historical\_restatement #### Identity - Project: Faraday 1-3 kimberlite - Commodity: diamonds - Ticker: MPVD #### Resource scope - Estimate type: resource - Effective date: 2019-02-01T00:00:00.000Z - QP Signed: Yes - Qualified person names: Tom McCandless - Resource group id: resource:559398924910e6e5d0b4 #### Resource Data - Category: inferred - Tonnes: 1870000 - Grade: 1.04 - Grade Unit: carats/tonne - Contained Metal: 1.9 - Contained Unit: mct - Cutoff Grade: 1 - Cutoff Unit: mm #### Prior Estimate - Resource Date: 2019-02-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: The Faraday 1-3 kimberlite has an historical Inferred mineral resource estimate from February 2019, containing 1.90 Mct at a grade of 1.04 carats/tonne. - Negative factor: Inferred resource category - Negative factor: Estimate is historical \(February 2019\) Evidence · text > Faraday 1-3 is estimated to contain 1.90Mct in 1.87Mt at a grade of 1.04 carats/tonne and value of US$75/carat, at February 2019. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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. Why it applies: qp\_signed is true **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.