Welcome to our dedicated page for MPVD news (Ticker: MPVD), a resource for investors and traders seeking the latest updates and insights on MPVD stock.
Mountain Province Diamonds (MPVD) delivers transparent access to critical updates from one of Canada’s premier diamond mining enterprises. This page aggregates official announcements, operational developments, and strategic insights from the company’s core Gahcho Kué mine—a joint venture with De Beers producing high-quality rough diamonds.
Investors and industry observers will find comprehensive coverage of production milestones, technical innovations in open-pit mining, and resource management strategies. Key updates include quarterly performance reports, mineral reserve evaluations, and partnership announcements that shape MPVD’s position in global diamond markets.
All content is curated to provide actionable insights while adhering to strict financial disclosure standards. Users can expect regular updates on cost optimization initiatives, safety protocol enhancements, and market-responsive operational adjustments—critical factors for assessing the company’s long-term value proposition.
Bookmark this page for centralized access to MPVD’s evolving narrative in the natural resources sector. Verify facts directly through primary sources linked within each release, and revisit frequently to stay informed about this technically advanced mining operation.
Mountain Province Diamonds (TSX/OTC: MPVD) announces a shareholder meeting on May 16, 2025, seeking approval for a new CAD33 million working capital facility from Dunebridge Worldwide The virtual meeting will be held at 11:00 a.m. EST.
The proposed facility includes key terms:
- 6-month drawdown period starting May 16, 2025
- 10.5% annual interest rate on drawn amounts
- 7% annual interest on undrawn amounts
- USD1 million facility fee
- Maturity date of June 30, 2026
This facility, combined with recent refinancing transactions, aims to address the company's 2025 cash flow requirements and finance operational expenses at the Gahcho Kué diamond mine. The proposal requires disinterested shareholder approval as the total consideration to insiders exceeds 10% of the company's market capitalization.
Mountain Province Diamonds (MPVD) has released its Q1 2025 production and sales results from the Gahcho Kué Diamond Mine. The quarter saw 762,978 carats recovered, marking a 40% decrease from Q1 2024. Production metrics showed significant changes with a 48% decrease in grade to 0.82 carats per tonne and zero ore tonnes mined as all ore treated came from stockpiles.
Total tonnes mined increased by 28% to 10,092,47 tonnes, while ore tonnes treated rose 15% to 925,773 tonnes. Sales performance showed 426,268 carats sold for $44 million (US$30.7 million), averaging $103 per carat. The company is currently focused on stripping waste to access the high-grade NEX orebody, expected by the end of Q2.
Mountain Province Diamonds (MPVD) has released its financial and operating results for Q4 and full-year 2024. The company faced significant challenges with total sales revenue declining to $267.7 million from $328.6 million in 2023, while reporting a net loss of $80.8 million ($0.38 per share).
Key operational metrics showed mixed results, with a 41% increase in ore tonnes mined and 12% increase in tonnes treated, but diamond recovery decreased to 4.66 million carats at 1.28 carats per tonne, down 16% from 2023. The average realized diamond price dropped to $98 per carat from $121 in 2023.
Notable achievements include a 60% improvement in safety performance and record processing plant throughput of 3.63 million tonnes. The company recently completed a refinancing transaction to address bonds due in 2025, positioning for expected higher production in 2026 when the high-grade NEX orebody comes online.
Mountain Province Diamonds (TSX: MPVD) has successfully completed its previously announced refinancing transactions. The company has secured a US$20M bridge credit facility from Dunebridge Worldwide and received 100% approval from holders of its Second Lien Notes for restructuring.
Key aspects of the refinancing include addressing reclamation liabilities owed to De Beers (GK Mine operator), providing capital for the 2025 near cash flow deficit, and extending Second Lien Notes maturity to December 2027. The amended terms include deferring the next interest payment to June 15, 2026, with an increased interest rate of 9.6075% on the US$177 million outstanding notes.
The Toronto Stock Exchange has granted the company an exemption from disinterested security holder requirements, but consequently placed MPVD's common shares under delisting review, with continued listing not guaranteed.
Mountain Province Diamonds (TSX: MPVD) announced its Q4 and full-year 2024 production and sales results. In FY 2024, the company sold approximately 2.7 million carats at an average value of $98 per carat, generating total proceeds of $267.7 million, compared to $328.6 million in FY 2023.
Production highlights include 4.66 million carats produced against guidance of 4.2-4.7 million carats, with ore mined at 5.4 million tonnes exceeding guidance of 4.1-4.6 million tonnes. The company achieved record processing plant performance of 3.63 million tonnes.
The company faced challenges with lower diamond prices in 2024, with average realized price dropping to $98 per carat from $121 in 2023. The mine achieved its best safety performance with a 60% improvement in TRIFR. Looking ahead, 2025 production is expected to remain similar to 2024, with significant production increase anticipated in 2026 from the NEX orebody.
Mountain Province Diamonds Inc. (TSX: MPVD) (OTC: MPVD) has released its Q3 2024 production and sales results for the Gahcho Kué Diamond Mine. Key highlights include:
- 1,187,912 carats recovered, 10% less than Q3 2023
- Average grade of 1.24 carats per tonne, 18% less than Q3 2023
- 923,814 ore tonnes mined, 4% more than Q3 2023
- 961,371 ore tonnes treated, 10% more than Q3 2023
Q3 2024 sales totaled 679,599 carats for $69.4 million (US$50.8 million), averaging $102 per carat. The company maintains its 2024 production guidance of 4.2 - 4.7 million carats recovered, expecting to finish in the mid to upper portion of the range. The Q3 2024 earnings release is scheduled for November 6, 2024, with a conference call on November 7, 2024.
Mountain Province Diamonds Inc. has announced an updated life of mine plan and mineral resource/reserve estimate for the Gahcho Kué Mine. Key highlights include:
- Mountain Province's 49% share of operating cash flow from remaining open pit mining is estimated at $626 million
- Ore processing is now estimated to finish in early 2031, extended from 2030
- Total diamond recovery from 2024-2031 is estimated at 36.3 million carats, up from 30.8 million previously
- Updated mineral reserves of 23.6 Mt at 1.47 carats/tonne for 34.6 million carats
- Indicated mineral resources of 24.7 Mt at 1.57 carats/tonne for 38.8 million carats
The updated plan reflects engineering work to steepen pit walls, allowing additional kimberlite to be mined. A supporting NI 43-101 technical report will be filed within 45 days.
Mountain Province Diamonds (TSX: MPVD) (OTC: MPVD) announced Q2 2024 production and sales results from the Gahcho Kué Diamond Mine. Key highlights include:
- 1,318,680 carats recovered, down 2% year-over-year
- Average grade of 1.37 carats per tonne, 24% lower than Q2 2023
- 971,311 ore tonnes mined, up 63% year-over-year
- 965,984 ore tonnes treated, up 29% year-over-year
Sales results show 557,361 carats sold for $56.8 million (US$41.5 million), averaging $102 per carat. The diamond market remains soft, with lower-than-expected demand from China. The company will release Q2 2024 financial results on August 7, 2024, followed by a conference call on August 8, 2024.
Mountain Province Diamonds Inc. announces its financial results for the first quarter of 2024, reporting 938,000 carats sold with proceeds of $89.4 million, adjusted EBITDA of $50.0 million, and net income of $6.8 million. Operational highlights include 805,557 ore tonnes treated, 1,264,887 carats recovered, and an average grade of 1.57 carats per tonne. Sales comparisons show a decrease in carats sold and average price per carat from Q1 2023. The company's President expects positive changes in the mine plan to boost future results.
