Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results
Original announcement by tmx on
- Company
- Mountain Province Diamonds
- 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 10:52:43 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
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.
Reasoning: The company reported a mixed operational performance with a strong Q4 2025 recovery but overall negative financial results for FY 2025, including a large net loss and decreased EBITDA, exacerbated by challenging diamond market conditions. Historical resource estimates are provided for context.
Positive factors
- Significant improvement in recovered grade and carats in Q4 2025
- Increased total tonnes mined in FY 2025
- Safety KPI improvement
Negative factors
- Substantial net loss and decreased Adjusted EBITDA for FY 2025
- Deteriorating diamond market conditions and pricing pressure
- Significant decrease in ore tonnes mined for FY 2025
- Increased cash costs of production per carat and per tonne for FY 2025
- Impairment loss on property, plant and equipment
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 19
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (3)
indicatedKelvin kimberlite · diamondsTonnes: 8500000Grade: 1.6Grade Unit: carats/tonneContained Metal: 13.62Contained Unit: mctHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Kelvin kimberlite
- Commodity
- diamonds
- Region
- canada
- Reported Region
- Canada's Northwest Territories
- Ticker
- MPVD
Resource scope
- Estimate type
- resource
- Effective date
- 2019-02-01T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Tom McCandless, Tysen Hantelmann
- Resource group id
- resource:82535bb96f43d6b58415
- Deposit or zone
- Kelvin kimberlite
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 diamond size bottom cut-off
Prior Estimate
- Resource Date
- 2019-02-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2019-02-01T00:00:00.000Z
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Historical Indicated mineral resource for the Kelvin kimberlite, providing context on the company's assets.
Positive factors
- Indicated resource category
Negative factors
- 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. ... All resource estimations are based on a 1mm diamond size bottom cut-off. Qualified Person The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Tom McCandless, Ph.D., P.Geo and Tysen Hantelmann, P.Eng., Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 7.2 years before this release
inferredFaraday kimberlites · diamondsTonnes: 2070000Grade: 2.63Grade Unit: carats/tonneContained Metal: 5.45Contained Unit: mctHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Faraday kimberlites
- Commodity
- diamonds
- Region
- canada
- Reported Region
- Canada's Northwest Territories
- Ticker
- MPVD
Resource scope
- Estimate type
- resource
- Effective date
- 2019-02-01T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Tom McCandless, Tysen Hantelmann
- Resource group id
- resource:9173a694fb68ed38177f
- Deposit or zone
- Faraday 2
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 diamond size bottom cut-off
Prior Estimate
- Resource Date
- 2019-02-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2019-02-01T00:00:00.000Z
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Historical Inferred mineral resource for Faraday 2, providing context on the company's assets.
Negative factors
- Estimate is historical (February 2019)
- Inferred resource category
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. ... All resource estimations are based on a 1mm diamond size bottom cut-off. Qualified Person The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Tom McCandless, Ph.D., P.Geo and Tysen Hantelmann, P.Eng., Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 7.2 years before this release
inferredFaraday kimberlites · diamondsTonnes: 1870000Grade: 1.04Grade Unit: carats/tonneContained Metal: 1.9Contained Unit: mctHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Faraday kimberlites
- Commodity
- diamonds
- Region
- canada
- Reported Region
- Canada's Northwest Territories
- Ticker
- MPVD
Resource scope
- Estimate type
- resource
- Effective date
- 2019-02-01T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Tom McCandless, Tysen Hantelmann
- Resource group id
- resource:fab6b6c68eb71b2e5915
- Deposit or zone
- Faraday 1-3
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 diamond size bottom cut-off
Prior Estimate
- Resource Date
- 2019-02-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2019-02-01T00:00:00.000Z
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Historical Inferred mineral resource for Faraday 1-3, providing context on the company's assets.
Negative factors
- Estimate is historical (February 2019)
- Inferred resource category
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. ... All resource estimations are based on a 1mm diamond size bottom cut-off. Qualified Person The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Tom McCandless, Ph.D., P.Geo and Tysen Hantelmann, P.Eng., Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 7.2 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.