Mountain Province Diamonds announces production and sales results for the fourth quarter ended December 31, 2023 (Q4 2023), and Full-Year 2023 (FY 2023) from the Gahcho Kué Diamond Mine (GK Mine). According to the fact and figures, 9,831,021 total tonnes mined during the Quarter, a 3% decrease on comparable period (Q4 2022: 10,144,844). 37,147,350 total tonnes mined during FY 2023, a 9% increase from comparable period (FY 2022: 33,947,188).
The Gahcho Kué Diamond Mine, 1,572,696 carats recovered during the Quarter at an average grade of 1.84 carats per tonne, 3% lower than comparable quarter (Q4 2022: 1,621,800 carats at 1.96). 5,557,655 carats recovered during FY 2023 at an average grade of 1.71 carats per tonne, 1% higher than comparable period (FY 2022: 5,519,309 carats at 1.78).
Q4 2023 diamond sales totaled 917,757 carats sold at an average value of $87 per carat (US$64 per carat) for total proceeds of $79.8 million (US$58.9 million) in comparison to 757,830 carats sold at an average value of $127 per carat (US$94 per carat) for total proceeds of $96.3 million (US$71.3 million) in Q4 2022. The lower average value per carat sold in Q4 2023 was the result of the mix of goods sold, reflecting the sale of a finer set of goods held back from previous quarters.
During FY 2023, 2,717,742 carats were sold at an average value of $121 per carat (US$90 per carat) for total proceeds of $328.6 million (US$243.8 million) in comparison to 2,656,387 carats sold at an average value of $146 per carat (US$112 per carat) for total proceeds of $388.8 million (US$297.3 million) in FY 2022.
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