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: 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.
Mountain Province Diamonds (TSX: MPVD) reported strong Q2 2021 results from the Gahcho Kué Diamond Mine. The company treated 811,171 tonnes of ore, a 30% increase from Q1 2021, and recovered 1,763,556 carats, exceeding Q2 2020 by 14%. The average grade rose to 2.17 carats per tonne, marking a 10% improvement year-over-year. Sales totaled $64.7 million, reflecting 718,549 carats sold at an average of $90 per carat. The company anticipates meeting its annual production guidance of 6.3 to 6.5 million carats.
Mountain Province Diamonds (MPVD) has reported strong Q2 2021 diamond sales, achieving total proceeds of $64.5 million from selling 718,549 carats, resulting in an average price of $90 per carat. This represents a 3% increase in revenue compared to Q1 2021, with market prices approximately 18% higher than the previous quarter. The company received an additional C$10.4 million from Dunebridge's diamond sales, leading to a reduction in the planned draw on a credit facility from US$10 million to US$8 million.
Mountain Province Diamonds reported financial results for Q1 2021, with 603,000 carats sold generating $54.2 million in total proceeds. The average realized value reached $90 per carat. Net income was $7.3 million or $0.03 per share. The quarter faced challenges, including a 22-day operational stand-down due to COVID-19 measures, leading to a 31% decrease in ore treated compared to Q1 2020. Despite this, the company anticipates recovering 6.3 to 6.5 million carats for 2021, aided by revised production strategies.
Mountain Province Diamonds (TSX: MPVD) has reported its Q1 2021 production results, highlighting significant impacts due to a 22-day operational stand-down amid COVID-19 protocols. Production declined, with ore tonnes treated down 31% year-over-year, totaling 625,582 tonnes. The company recovered 1,392,128 carats, 16% lower than Q1 2020. However, the average grade increased by 22% to 2.23 carats per tonne, reflecting operational flexibility. Sales amounted to $54.2 million, with an average price of $90 per carat. Earnings will be released on May 12, 2021.
Mountain Province Diamonds reported its fourth-quarter and full-year 2020 results, showing a 12% decrease in total tonnes mined year-over-year. Despite a 1% increase in ore tonnes mined compared to FY 2019, the net loss expanded to $263.4 million, largely due to a $217.4 million impairment charge. Carats sold increased to 957,000 in Q4, with earnings from mine operations at $22.8 million. Average diamond prices rose but overall revenue decreased to $227 million for FY 2020. Recovery efforts and enhanced safety measures amid COVID-19 challenges are ongoing.
Mountain Province Diamonds (TSX and OTCQX: MPVD) has reported a COVID-19 outbreak at its Gahcho Kué mine, leading to a temporary suspension of production activities. As of now, there are 2 confirmed and 6 presumptive cases, with all affected individuals quarantined and feeling well.
Management is prioritizing the containment of the outbreak and the safety of employees while maintaining essential operations such as water management and catering. Further updates on the resumption of production will be provided once the situation is assessed.
