Mountain Province Diamonds Announces Third Quarter Financial Results for 2025

Core Insights - Mountain Province Diamonds Inc. reported financial results for Q3 2025, highlighting a significant decline in carat production and financial performance compared to Q3 2024 [1][5][6] Financial Performance - Total revenue for Q3 2025 was $29.2 million from the sale of 409,081 carats, averaging $71 per carat, a decrease from $69.4 million from 679,599 carats sold in Q3 2024 at an average price of $102 per carat [6][7][9] - Adjusted EBITDA for Q3 2025 was ($4.3) million, down from $17.3 million in Q3 2024 [7][8] - The net loss for Q3 2025 was $55.9 million, or $0.26 per share, compared to a net loss of $19.0 million, or $0.09 per share, in Q3 2024 [8][19] Operational Highlights - Carat production in Q3 2025 was impacted by lower than expected stockpile grades, with a total of 1,001,000 carats recovered, a 16% decrease from 1,187,912 carats in Q3 2024 [14][16] - The average grade of diamonds recovered was 1.18 carats per tonne, down 5% from 1.24 carats per tonne in Q3 2024 [14][16] - Cash costs of production, including capitalized stripping costs, were $143 per tonne treated and $121 per carat recovered, compared to $125 per tonne and $101 per carat in Q3 2024 [7][8][14] Market Conditions - The US retail diamond market remains robust, although tariffs are negatively affecting prices [5] - The company is optimistic about improved grades in Q4 2025 as operations progress in the higher-grade 5034-NEX orebody [4][5] Future Outlook - The company executed a planned 5-day shutdown of the processing plant in September for maintenance, which affected the tonnes treated for the quarter [3][4] - The mine is well-prepared for 2026 with the arrival of cold weather, and the focus on safety and operational efficiency will continue [3][4]