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 Inc. (TSX: MPVD, OTC: MPVD) has announced its Q1 2023 earnings release and subsequent conference call scheduled for May 10, 2023, at 11:00 am EST. The earnings report will be released after market close on May 9, 2023. The conference will provide insights into the company’s financial health and operational updates.
Mountain Province is a 49% participant in the Gahcho Kué diamond mine alongside De Beers Canada, with extensive mineral claims covering over 113,000 hectares. Notable resources include the Kelvin kimberlite, estimated at 13.62 million carats with a value of US$63/carat, and the Faraday kimberlites, totaling 7.35 million carats with values ranging from US$75 to US$140/carat.
Mountain Province Diamonds Inc. reported its Q1 2023 production and sales results, revealing a total of 1,319,603 carats recovered, up 11% from Q1 2022. However, ore tonnes mined dropped significantly by 58% to 427,925 tonnes. Despite these challenges, the company achieved record revenue of $128.7 million from sales of 961,024 carats, representing a substantial increase from last year's $84.7 million. The average recovered grade improved to 1.72 carats per tonne. Operational issues, including planned maintenance and lower plant availability, impacted production output. The CEO emphasized the need for operational improvements but expressed optimism about future revenue opportunities amid strong market demand.
Mountain Province Diamonds Inc. (MPVD) announced its Q4 2022 and FY 2022 financial results, reporting a 31% increase in adjusted EBITDA to $177.2 million. Total sales revenue reached $388.9 million, up from $298.3 million in 2021, driven by an average realized value of $146 per carat. Despite these gains, carats recovered dropped 12% year-over-year to 5.5 million carats, impacting overall production. The company successfully repaid $110 million in debt and refinanced its notes with a 9% coupon. Looking forward, the production outlook for 2024 is estimated at 4.0 million to 4.4 million carats.
Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVD) has announced its intention to voluntarily file a Form 15F with the SEC to terminate the registration of its common shares and reporting obligations under the Exchange Act. Management believes the costs associated with continued registration exceed its benefits. The termination will be effective 90 days post-filing, and the company's shares will continue trading on the TSX. Mountain Province holds a 49% interest in the Gahcho Kué diamond mine in Canada's Northwest Territories, controlling over 113,000 hectares of mineral claims with significant estimated resources.
Mountain Province Diamonds announced that at a special meeting on December 12, 2022, 99.3% of disinterested shareholders approved a refinancing transaction. This involves issuing approximately US$195 million in new senior secured second lien loan notes to refinance US$189.15 million of existing notes. The new debt will carry a 9% coupon, and the company anticipates completing this transaction by December 14, 2022. With approximately US$292 million in sales and US$154 million in adjusted EBITDA reported in the first nine months of 2022, this refinancing aims to alleviate previous financial pressures and position the company for growth.
Mountain Province Diamonds Inc. (TSX: MPVD, OTCQX: MPVD) reported record financial results for Q3 2022, achieving C$111M in revenue, a 9% increase from the previous quarter. The company sold 805,227 carats, reflecting a 37% increase, with total production reaching 1,451,453 carats. Despite a workplace fatality affecting safety, performance improved significantly compared to earlier quarters. The company also secured a US$190M refinancing deal that avoids equity dilution for shareholders, enhancing its financial position going into Q4 2022.
Mountain Province Diamonds (TSX: MPVD, OTC: MPVD) has announced a special shareholder meeting on December 1, 2022, with a record date of October 28, 2022. The meeting aims to discuss potential debt issuance for refinancing senior secured notes, particularly with involvement from major bondholders, including the company's largest shareholder, Dermot Desmond. Any agreement reached will require approval from disinterested shareholders and regulatory bodies.
