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 has reported a COVID-19 outbreak at its Gahcho Kué mine in the Northwest Territories, with four cases confirmed. The entire workforce is fully vaccinated, and no material impact on production is anticipated. Increased safety measures were implemented as a response to the rapid spread of the Omicron variant. All other personnel tested negative. The company emphasizes the effectiveness of its safety protocols and expresses gratitude for its partnership with De Beers and Anglo American.
Mountain Province Diamonds has staked three strategic claims in its 100%-held Kennady North Project, increasing the project area by 35%. These claims, connected to existing kimberlite indicators, enhance exploration potential. The total land package now encompasses 107,373 hectares, surrounding the Gahcho Kué Mine, in which Mountain Province holds a 49% interest with De Beers. The company plans a winter 2022 exploration program, including up to 2,000 meters of drilling in the North and South Anomalies, utilizing advanced ARRT technology for better mineral target resolution.
Mountain Province Diamonds (TSX: MPVD) has appointed Mark Wall as President and CEO effective November 15, 2021. Wall brings over 25 years of mining experience, having previously served as CEO of Streamers Gold Mining and held key roles at Nevada Copper and Barrick Gold. His background in joint ventures and sustainability is expected to enhance operational performance and exploration at the Gahcho Kué mine. The company also holds significant exploration claims surrounding the mine, with substantial diamond resources estimated at Kelvin and Faraday kimberlites.
Mountain Province Diamonds (MPVD) announces the immediate departure of President and CEO Stuart Brown, with Jonathan Comerford appointed as Interim CEO. Brown's resignation comes after three years of service, during which he navigated challenges in the diamond sector, particularly during the COVID-19 pandemic. The company is currently seeking a permanent replacement. Mountain Province holds a 49% stake in the Gahcho Kué diamond mine in Canada and controls significant mineral claims surrounding the site.
Mountain Province Diamonds Inc. reported strong sales in Q3 2021, selling 1,028,327 carats for $93.9 million, averaging $91 per carat. Year-to-date, total sales reached 2,349,644 carats, generating $212.5 million, with a consistent average value of $90 per carat. The company's president, Stuart Brown, expressed optimism over the sustained price increases and the positive outlook for the upcoming holiday season. Notably, the sales success enabled early repayment of short-term debt, bolstering financial stability.
Mountain Province Diamonds (TSX/OTCQX: MPVD) has announced a six-month extension of its US$25M revolving credit facility with Dunebridge Worldwide Ltd., now maturing on March 31, 2022. This extension supports the company's working capital needs, with unchanged interest rates and terms. Additionally, Mountain Province has repaid its US$35M term loan, reducing its balance to zero ahead of the December 31, 2021 maturity date. The transaction was deemed reasonable by independent directors and is classified as a related party transaction due to insider ownership.
Mountain Province Diamonds (TSX: MPVD, OTCQX: MPVD) has appointed Mr. Dan Johnson to its Board of Directors as of September 22, 2021. Johnson brings over 40 years of experience in the mining industry, particularly in diamonds and Northern mines. His previous roles include GM of BHP's Ekati Diamond Mine and CEO of Diamond Fields International. Jonathan Comerford, Chairman, emphasized Johnson's extensive background will be crucial for maximizing the Company's asset value. Mountain Province Diamonds holds a 49% stake in the Gahcho Kué diamond mine and controls extensive mineral claims.
Mountain Province Diamonds (TSX and OTCQX: MPVD) held its 2021 Annual General Meeting on September 14, 2021, where all nominees listed in the management proxy were elected as directors. Key voting results include Jonathan Comerford with 99.35% support and Stuart Brown at 65.90%. Notably, Tom Peregoodoff resigned immediately after being re-elected. KPMG LLP was re-appointed as the Company's auditor. The Company has a significant stake in the Gahcho Kué diamond mine and extensive mineral claims in Northwestern Canada, boasting substantial estimated resources, including 13.62 million carats at Kelvin.
Mountain Province Diamonds (TSX: MPVD, OTCQX: MPVD) provided an update on its Kennady North Project, now encompassing 106,202 hectares following the acquisition of eastern claims. The project is adjacent to the Gahcho Kué Mine, where Mountain Province holds a 49% stake with De Beers. Notable advancements include a detailed glacial geology study, nearly complete till sampling with 327 samples collected, and the innovative Aurora Rapid Reactance Tomography system to identify potential kimberlite targets. The company anticipates prioritizing drill-testing for high-potential anomalies in 2022.
Mountain Province Diamonds has reported significant financial and operational improvements for Q2 2021. Key highlights include a 14% increase in carats recovered, reaching 1,764,000 carats, with an average grade of 2.18 carats per tonne. Revenue soared to $75.1 million, a notable rise from $34 million in Q2 2020, driven by higher sales volumes and prices. Adjusted EBITDA was $37.9 million, compared to a loss in the previous year. The company achieved a net income of $22.5 million, marking a turnaround from a net loss of $26.8 million in Q2 2020.
