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Mountain Province Diamonds Proclaims 3rd Quarter 2024 Manufacturing and Gross sales Effects, Main points of 3rd Quarter 2024 Income Let go and Convention Name


TSX and OTC: MPVD

TORONTO, Oct. 17, 2024 /PRNewswire/ – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPVD) (OTC: MPVD) lately proclaims manufacturing and gross sales effects for the 3rd quarter ended September 30, 2024 (“the Quarter” or “Q3 2024”) from the Gahcho Kué Diamond Mine (“GK Mine”). All figures are expressed in Canadian greenbacks until differently famous.

Q3 2024 Manufacturing Takeaways
(all figures are reported on a 100% foundation until differently said)

  • 1,187,912 carats recovered, 10% not up to Quarter 3 2023 (Q3 2023: 1,326,160 carats)
  • Reasonable grade of one.24 carats in line with tonne, 18% not up to Q3 2023 (Q3 2023: 1.51 carats in line with tonne)
  • 923,814 ore tonnes mined, 4% greater than Q3 2023 (Q3 2023: 887,695 ore tonnes mined)
  • 961,371 ore tonnes handled, 10% greater than Q3 2023 (Q3 2023: 877,617 tonnes handled)

Q3 2024 Manufacturing Figures









2024 Q3

2023 Q3

YoY Variance

Overall tonnes mined (ore and misspend)

8,603,369

9,145,849

-6 %

Ore tonnes mined

923,814

887,695

4 %

Ore tonnes handled

961,371

877,617

10 %

Carats recovered

1,187,912

1,326,160

-10 %

Carats recovered (49% proportion)

582,077

649,818

-10 %

Recovered grade (carats in line with tonne)

1.24

1.51

-18 %

Q3 2024 Gross sales Effects

Throughout the Quarter, 679,599 carats had been bought for general proceeds of $69.4 million (US$50.8 million), to bring about a median value of $102 in line with carat (US$75 in line with carat). Those effects evaluate to Q3 2023 when 478,653 carats had been bought for general proceeds of $60.2 million (US$45.3 million), to bring about a median value of $126 in line with carat (US$95 in line with carat).

Mark Wall, the Corporate’s President and Eminent Government Officer, commented:

“Q3 used to be once more a good quarter for the metric of tonnes handled with some other powerful efficiency within the processing plant, with grade additionally acting rather higher than plan.  Q3 and This autumn had been deliberate to have a decrease grade than the primary part of the month because of the next proportion of decrease grade Tuzo ore within the procedure combine. 

At the mining facet the Hearne pit base mining is definitely advanced, and the revealed pit mining of Hearne will end throughout This autumn of this month.  The mining of the decrease parts of the 5034 pit could also be progressing, with some geotechnical demanding situations and better than anticipated mist occasions slowing ill mining, in some disciplines.  The paintings to strip right down to the NEX orebody has began with this pit anticipated to be an important contributor to manufacturing in the second one part of 2025.  Paintings to series the plan between the end of the 5034 pit and misspend stripping to the NEX orebody rest in journey.

2024 Manufacturing steerage of four.2 – 4.7 million carats recovered is maintained, with manufacturing these days anticipated to complete within the mid to higher portion of the steerage dimension.  Overall tonnes mined is predicted to complete not up to the base of steerage of 36 million tonnes, with ore tonnes mined anticipated to complete above the govern of steerage of four.6 million ore tonnes and ore tonnes handled alike to the higher finish of steerage.”

Reid Mackie, Vice President of Diamond Gross sales and Advertising and marketing, commented:

“The rough diamond market during Q3 was unsettled by continued price decreases announced by leading polished diamond price indices. This was compounded by reports of delayed polished buying by downstream retailers and precipitated sales of polished stock by the industry midstream. Many rough producers addressed this by cancelling or delaying their rough diamond sales during the third quarter. For Mountain Province, which held its usual two scheduled sales during the quarter, prices achieved were largely stable. We look forward to the upcoming holiday season demonstrating demand for diamond jewellery at retail and firming up rough diamond market sentiment.”

Income Let go and Convention Name Main points

The Corporate will host its quarterly convention name on Thursday November 7th, 2024, at 11:00am ET. Previous to the convention name, the Corporate will leave Q3 2024 monetary effects on November 6th, 2024, after-market.

Convention Name Dial-in Main points:

Name: Mountain Province Diamonds Inc Q3 2024 Income Convention Name

Hour of name: 11/07/2024
Year of name: 11:00 Jap Year
Anticipated Length: 60 mins

Webcast Hyperlink:
https://app.webinar.net/LX9ZQJL6ARV
North American Toll-Distant Quantity: (+1) 888-510-2154
Player Native/World Quantity: (+1) 437-900-0527

A replay of the webcast and audio name will likely be to be had at the Corporate’s web page.

****

About Mountain Province Diamonds Inc.

Mountain Province Diamonds is a 49% player with De Beers Canada within the Gahcho Kué diamond mine positioned in Canada’s Northwest Territories. The Gahcho Kué Joint Mission detail is composed of a number of kimberlites which can be actively being mined, advanced, and explored for presen construction. The Corporate additionally controls greater than 113,000 hectares of extremely potential mineral claims and rentals shape the Gahcho Kué Mine that come with an Indicated mineral useful resource for the Kelvin kimberlite and inferred mineral assets for the Faraday kimberlites.

For additional data on Mountain Province Diamonds and to obtain information releases by way of electronic mail, seek advice from the Corporate’s web page at www.mountainprovince.com.

Certified Particular person

The disclosure on this information leave of medical and technical data relating to Mountain Province’s mineral houses has been reviewed and licensed Dan Johnson, P.Eng., a director of Mountain Province Diamonds Inc. and Certified Particular person as outlined by way of Nationwide Software 43-101 Requirements of Disclosure for Mineral Tasks.

Warning Relating to Ahead Having a look Knowledge

This information leave incorporates positive “forward-looking statements” and “forward-looking information” beneath appropriate Canadian and United States securities regulations in regards to the industry, operations and fiscal efficiency and status of Mountain Province Diamonds Inc. Ahead-looking statements and forward-looking data come with, however don’t seem to be restricted to, statements with admire to operational hazards, together with imaginable disruption because of pandemic akin to COVID-19, its affect on proceed, self-isolation protocols and industry and operations, estimated manufacturing and mine age of the undertaking of Mountain Province; the belief of mineral hold estimates; the timing and quantity of estimated presen manufacturing; prices of manufacturing; the presen value of diamonds; the estimation of mineral reserves and assets; the power to top debt; capital expenditures; the power to acquire allows for operations; liquidity; tax charges; and forex trade charge fluctuations.  Aside from for statements of historic truth on the subject of Mountain Province, positive data contained herein constitutes forward-looking statements. Ahead-looking statements are often characterised by way of phrases akin to “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and alternative alike phrases, or statements that positive occasions or statuses “may”, “should” or “will” happen.  Ahead-looking statements are according to the evaluations and estimates of control on the time the statements are made, are according to a number of guesses, and topic to numerous dangers and uncertainties and alternative components that would reason original occasions or effects to fluctuate materially from the ones projected within the forward-looking statements.  Many of those guesses are according to components and occasions that don’t seem to be throughout the keep an eye on of Mountain Province and there is not any guarantee they’re going to end up to be proper.

Elements that would reason original effects to alter materially from effects expected by way of such forward-looking statements come with the advance of operation hazards which might get up relating to COVID-19, together with, however now not restricted to protocols that could be followed to shed the unfold of COVID-19 and any affect of such protocols on Mountain Province’s industry and operations, permutations in ore grade or fix charges, adjustments in marketplace statuses, adjustments in undertaking parameters, mine sequencing; manufacturing charges; money stream; dangers on the subject of the provision and timeliness of allowing and governmental approvals; provide of, and insist for, diamonds; fluctuating commodity costs and forex trade charges, the opportunity of undertaking value overruns or unanticipated prices and bills, labour disputes and alternative dangers of the mining business, failure of plant, apparatus or processes to function as expected.

Those components are mentioned in higher trait in Mountain Province’s most up-to-date Annual Knowledge Mode and in the newest MD&A filed on SEDAR, which additionally lend backup normal guesses in reference to those statements. Mountain Province cautions that the foregoing listing of an important components isn’t exhaustive. Traders and others who bottom themselves on forward-looking statements must moderately believe the above components in addition to the uncertainties they constitute and the chance they entail. Mountain Province believes that the expectancies mirrored in the ones forward-looking statements are cheap, however negative guarantee can also be for the reason that those expectancies will end up to be proper and such forward-looking statements integrated on this information leave must now not be unduly relied upon. Those statements talk best as of the time of this information leave.

Even supposing Mountain Province has tried to spot an important components that would reason original movements, occasions, or effects to fluctuate materially from the ones described in forward-looking statements, there could also be alternative components that reason movements, occasions, or effects to not be expected, estimated, or meant. There can also be negative guarantee that forward-looking statements will end up to be correct, as original effects and presen occasions may fluctuate materially from the ones expected in such statements. Mountain Province undertakes negative legal responsibility to replace forward-looking statements if instances or control’s estimates or evaluations must alternate with the exception of as required by way of appropriate securities regulations. The reader is cautioned to not park undue reliance on forward-looking statements. Statements relating to mineral hold and useful resource estimates can be deemed to represent forward-looking statements to the level they contain estimates of the mineralization that will likely be encountered because the detail is advanced. Mineral assets don’t seem to be mineral reserves and would not have demonstrated financial viability.

Additional, Mountain Province might produce adjustments to its industry plans that would impact its effects. The essential property of Mountain Province are administered pursuant to a three way partnership beneath which Mountain Province isn’t the operator. Mountain Province is uncovered to movements taken or omissions made by way of the operator inside its prerogative and/or determinations made by way of the three way partnership beneath its phrases. Such movements or omissions might affect the presen efficiency of Mountain Province. Underneath its flow notice and revolving credit score amenities, Mountain Province is topic to positive barriers on its talent to pay dividends on ordinary secure. The declaration of dividends is on the discretion of Mountain Province’s Board of Administrators, topic to the restrictions beneath the Corporate’s debt amenities, and is determined by Mountain Province’s monetary effects, money necessities, potentialities, and alternative components deemed related by way of the Board.

SOURCE Mountain Province Diamonds Inc.

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