Mountain Province Diamonds Announces Third Quarter 2025 Production and Sales Results, Update on Guidance, Details of Third Quarter 2025 Earnings Release, and Conference Call

Core Viewpoint - Mountain Province Diamonds Inc. reported a decline in production and sales for Q3 2025 compared to Q3 2024, primarily due to lower ore grades and reduced carat recovery from the Gahcho Kué Diamond Mine [1][6][11]. Production Summary - Total tonnes mined increased by 15% year-over-year, reaching 9,922,231 tonnes in Q3 2025 compared to 8,603,369 tonnes in Q3 2024 [2]. - Ore tonnes mined decreased by 13%, totaling 807,458 tonnes in Q3 2025, down from 923,814 tonnes in Q3 2024 [2][9]. - Carats recovered fell by 16% year-over-year, with 1,000,887 carats recovered in Q3 2025 compared to 1,187,912 carats in Q3 2024 [2][9]. - The average recovered grade was 1.18 carats per tonne, a decrease of 4% from 1.24 carats per tonne in Q3 2024 [2][9]. Sales Results - In Q3 2025, the company sold 409,081 carats for $29.2 million, averaging $71 per carat, compared to 679,599 carats sold for $69.4 million at an average of $102 per carat in Q3 2024 [6][11]. Guidance Update - The company revised its guidance for carats recovered to a range of 4.0 million to 4.2 million carats for 2025, down from the previous range of 4.3 million to 4.7 million carats [4]. - Production costs per carat recovered are now guided at $125 to $130, significantly higher than the original guidance of $92 to $107 [5]. - The revised guidance for production costs per tonne treated is now $145 to $155, up from the original range of $120 to $137 [5]. Operational Insights - The company completed waste stripping to access the higher-grade 5034-NEX orebody during Q3 2025, which is expected to improve production in Q4 2025 and 2026 [7][11]. - A planned 5-day shutdown in September for maintenance contributed to slightly lower tonnes processed compared to Q2 2025 [8].