Mountain Province Diamonds Announces Third Quarter 2021 Production Results, Details of Earnings Release and Conference Call

    You can use your smart phone to browse stories in the comfort of your hand. Simply browse this site on your smart phone.

    Using an RSS Reader you can access most recent stories and other feeds posted on this network.

    SNetwork Recent Stories

Mountain Province Diamonds Announces Third Quarter 2021 Production Results, Details of Earnings Release and Conference Call

by ahnationtalk on October 15, 202136 Views

TORONTO and NEW YORK – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPVD) (OTCQX: MPVD) today announces production results for the third quarter ended September 30, 2021 (“the Quarter” or “Q3 2021”) from the Gahcho Kué Diamond Mine (“GK Mine”). All figures are expressed in Canadian dollars unless otherwise noted.

Additionally, the Company is providing the details of its Q3 2021 earnings release and conference call. The Company will release Q3 2021 financial results after market-close on Tuesday, November 9th, 2021, with the quarterly conference call on Wednesday, November 10th, 2021 at 11:00am EST.

Q3 Production Takeaways
(all figures reported on a 100% basis unless otherwise stated)

  • 832,511 ore tonnes treated, a 1% increase relative to Q3 2020, and a 3% increase relative to Q2 2021 (Q3 2020: 821,049 tonnes treated; Q2 2021, 811,171 tonnes treated)
  • 1,562,105 carats recovered, 13% lower than Q3 2020, and a 11% decrease relative to Q2 2021 (Q3 2020: 1,794,408 carats recovered, Q2 2021: 1,763,556 carats recovered)
  • 4,717,789 carats recovered year-to-date, on track to meet FY21 guidance of 6,300,000 – 6,500,000 carats recovered
  • Average grade of 1.88 carats per tonne, a 14% decrease relative to Q3 2020 (2.19 carats per tonne)

Q3 2021 Production Figures

2021 Q3

2020 Q3

YoY Variance

Total tonnes mined (ore and waste)

10,280,749

9,880,757

4%

Ore tonnes mined

1,033,461

889,340

16%

Ore tonnes treated

832,511

821,049

1%

Carats recovered

1,562,105

1,794,408

-13%

Carats recovered (49% share)

765,431

879,260

-13%

Recovered grade (carats per tonne)

1.88

2.19

-14%

Mining performance improved relative to the prior quarter, benefitting from improved equipment availability, fewer incidences of extreme weather, as well as improved labour availability. Tonnes processed and carats recovered remain on track to meet previously provided guidance.

Jonathan Comerford, the Company’s Chairman and Interim Chief Executive Officer, commented:

“I am pleased with the performance of the mine in Q3.  The grade was lower in the quarter due to planned processing of lower grade material, and because of the previously stated change to a larger bottom cut-off screen size. Despite this we remain well on target to meet our production guidance of 6,300,000 – 6,500,000 carats recovered for 2021.  The operator has done a good job in recovering some of the lost production from the temporary suspension of operations due to Covid-19 in Q1.  The sizeable stockpile built up at the plant also gives us confidence that we will reach our goals for the year.”

Conference Call

The Company will release its Q3 2021 financial results on Tuesday, November 9th, 2021 after market hours. The Company will host its quarterly conference call on Wednesday, November 10th, 2021 at 11:00am ET.

Title: Mountain Province Diamonds Inc Q3 2021 Earnings Conference Call
Conference ID: 70256121
Date of call: November 10th, 2021
Time of call: 11:00 Eastern Time
Expected Duration: 60 minutes

Webcast Link:
https://produceredition.webcasts.com/starthere.jsp?ei=1505701&tp_key=98f29d2354

Participant Toll-Free Dial-In Number:             (+1) 888-390-0546
Participant International Dial-In Number:        (+1) 416-764-8688

A replay of the webcast and audio call will be available on the Company’s website.

About the Company

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 106,202 hectares of highly prospective mineral claims and leases that surround the Gahcho Kué Joint Venture property that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.

For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company’s website at www.mountainprovince.com.

Qualified Person

The disclosure in this news release of scientific and technical information regarding Mountain Province’s mineral properties has been reviewed and approved by Matthew MacPhail, P.Eng., MBA, and Tom E. McCandless, Ph.D., P.Geo., both employees of Mountain Province Diamonds and Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For further information: Matthew MacPhail, VP Corporate Development & Technical Services, 161 Bay Street, Suite 1410, Toronto, Ontario M5J 2S1, Phone: (416) 361-3562, E-mail: [email protected]

NT4

Send To Friend Email Print Story

Comments are closed.

NationTalk Partners & Sponsors Learn More