Mountain Prov Stock Price, News & Analysis

Mountain Province Diamonds announced details for its Q4 and full-year 2022 earnings release and conference call scheduled for March 23, 2023, at 11:00 AM EST. Prior to the call, the financial results will be disclosed on March 22, 2023, after market close. The company holds a 49% stake in the Gahcho Kué diamond mine and controls over 113,000 hectares in mineral claims. Notably, Kelvin kimberlite contains an estimated 13.62 million carats with a value of US$63/carat, while Faraday 2 holds 5.45 million carats valued at US$140/carat. Details on participation and a webcast link are provided in the release.

Mountain Province Diamonds reported its Q4 and FY 2022 results with significant production and sales metrics. In Q4, the company recovered 1,621,800 carats at an average grade of 1.96 carats per tonne. Total production for 2022 was 5.52 million carats, slightly below guidance. Sales reached $388.8 million from 2.7 million carats sold at an average value of $146 per carat. The company managed to reduce its total debt by approximately $60 million year-over-year. Guidance for 2023 includes 5.6 to 6.1 million carats to be recovered. Despite some production decreases, the outlook for rough diamonds remains positive due to resilient market conditions.

Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVD) has successfully completed a refinancing transaction, raising US$195 million through new 9% Senior Secured Second Lien Notes due 2025. This funding replaces the existing US$189.15 million notes due 2022, which have been fully repaid. The new debt structure does not dilute existing shareholders and supports the company's growth strategy. Notably, the updated technical report for the Gahcho Kué mine has added nearly US$400 million in net present value post-tax.

Mountain Province Diamonds announced positive phase one drilling results for the Hearne Northwest Extension at the Gahcho Kué Mine, a significant diamond producer. The drilling program consisted of 16 drillholes totaling 5,040 meters, with ten intersecting significant kimberlite. CEO Mark Wall noted the potential of the discovery, suggesting it may equal the original Hearne orebody's volume. The company plans to evaluate underground mining options for recovery of this material. Mountain Province holds a 49% stake in the Gahcho Kué joint venture with De Beers Canada.

Mountain Province Diamonds has reported record financial results for Q3 2022, achieving a revenue of $110.1 million, marking a 12% increase from Q2 2022. The average price per carat sold was US$104, reflecting a 2% increase adjusted for mix sold. EBITDA reached $54.1 million, while net loss stood at $7.2 million due to $26.3 million in unrealized foreign exchange losses. The company has also repurchased $26.9 million in senior secured notes and proposed a refinancing of $190 million in existing notes. Production levels showed improvement despite a decrease in carat recovery year-over-year.

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.

Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVDF) has announced the details for its Q3 2022 earnings release and conference call. The Company will release financial results on November 8, 2022, after the market closes, followed by a conference call on November 9, 2022, at 11:00 AM EST. The call will last approximately 60 minutes, providing insights on the Company’s operations and financial health. Mountain Province is a key player in the Gahcho Kué diamond mine, holding a 49% stake and managing extensive mineral claims in the surrounding area.

Mountain Province Diamonds Inc. (TSX: MPVD, OTC: MPVDF) reported a tragic incident at the Gahcho Kué Mine, where an employee from a contractor died on September 1, 2022. The mine, located in the Northwest Territories, is operated in a joint venture with De Beers Group. All non-essential work has been suspended as investigations are ongoing. The company expressed condolences to the deceased's family and provided counseling services to employees. The Gahcho Kué Mine features significant diamond resources, including an estimated 13.62 million carats from the Kelvin kimberlite.

Mountain Province Diamonds (TSX: MPVD, OTC: MPVDF) has announced a significant upcoming sale featuring a 151.60 carat exceptional octahedron diamond recovered from its Gahcho Kué mine in Canada. This sale will showcase the largest offering of +10.8 carat gem-quality diamonds to date, including over 90 individual special rough diamonds. The diamonds will be available for viewing at Bonas Group's offices in Antwerp, Belgium, from September 5 to September 16, 2022. Reid Mackie, Vice President of Diamond Marketing, emphasized the mine's capability to recover high-quality gems.