Diamonds Mining News

Mountain Province Diamonds Inc.
Mountain Province Diamonds Inc.
MPVD
Diamonds
Canada's Northwest Territories

Mountain Province Diamonds Announces First Quarter Financial Results for 2026

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.

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Mountain Province Diamonds Inc.
Mountain Province Diamonds Inc.
MPVD
Diamonds
Canada's Northwest Territories

Mountain Province Diamonds Announces First Quarter Financial Results for 2026

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.

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Mountain Province Diamonds Inc.
Mountain Province Diamonds Inc.
MPVD
Diamonds
Canada's Northwest Territories

Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results

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.

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Mountain Province Diamonds
Mountain Province Diamonds
MPVD
Diamonds
Canada's Northwest Territories

Mountain Province Diamonds Announces Full Year and Fourth Quarter 2025 Results

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.

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