Core Insights - Mountain Province Diamonds Inc. reported financial results for Q2 2025, highlighting operational discipline at the Gahcho Kué Mine despite ongoing challenges in the diamond market [1][3]. Financial Highlights - In Q2 2025, the company sold 411,114 carats for total proceeds of CAD 36.8 million (USD 26.6 million), with an average price of CAD 90 per carat (USD 65) [10][15]. - Adjusted EBITDA for Q2 2025 was CAD -2.2 million, a significant decline from CAD 24.0 million in Q2 2024 [15][24]. - The net loss for Q2 2025 was CAD 37.7 million, or CAD 0.18 loss per share, compared to a net loss of CAD 6.5 million, or CAD 0.03 loss per share in Q2 2024 [14][18]. Operational Highlights - The Gahcho Kué Mine achieved 82.5% availability and utilization in H1 2025, with ore throughput reaching a record of 1.81 million tonnes [5][9]. - The average grade of diamonds recovered was 0.81 carats per tonne, a decline of 44% from H1 2024 and 54% from H1 2023 [6][22]. - Total tonnes mined in H1 2025 were 20.54 million, a 30% increase from 15.8 million tonnes in H1 2024 [13]. Market Conditions - The diamond market remains fragile, with recent U.S. tariffs introducing uncertainty despite early signs of recovery in U.S. retail demand and China [7][3]. - The company anticipates that grades will improve as mining progresses into the high-grade NEX ore body [6][9]. Safety and Operational Performance - The Total Recordable Injury Frequency Rate (TRIFR) improved by 51% year-over-year, indicating a strong focus on safety [4][9]. - Despite solid operational performance, lower-than-expected grades have tempered overall production outcomes [9][10].