Mountain Province Diamonds announces production and sales results for the first quarter-1Q, ended March 31, 2025 from the Gahcho Kué Diamond Mine. According to the Q1 Production Takeaways are,
1: 762,978 carats recovered,
2: 40% lower than last year’s comparable quarter (Q1 2024: 1,264,887 carats) 0.82 Average grade of carats per tonne,
3: a 48% decrease relative to Q1 2024 (1.57 carats per tonne).
4: 0 (nil) ore tonnes mined; a 100% reduction relative to last year’s comparable quarter (Q1 2024: 1,946,856 ore tonnes mined), as all ore treated came from the stockpile. 5: 925,773 ore tonnes treated, a 15% increase relative to last year’s comparable quarter (Q1 2024: 805,557 tonnes treated)
Q1 Sales Results said, in the Quarter, 426,268 carats were sold for $44 million (US$30.7 million), averaging $103 per carat (US$72 per carat). In Q1 2024, 938,310 carats were sold for $89.4 million (US$66.1 million), averaging $95 per carat (US$70 per carat).
Mark Wall, the Company’s President and Chief Executive Officer, commented, “Q1 is historically a challenging quarter for the operations. For Q1 of 2025 we saw the all- important total tonnes mined increase by 28% when compared to Q1 of 2024. As previously reported the first half of 2025 is focussed exclusively on stripping waste to reach the important high grade NEX orebody, and the improvements in mining performance have been a key focus area.
Processing continued to go well, with a 15% improvement in Q1 2025 compared to Q1 of 2024. As we were treating low grade stockpiles while we strip waste to the NEX orebody we expected lower grades, although the stockpile grades performed below modelled grade with a processed grade of 0.82 carats per tonne.
While the processing facility continued to perform very well, the low-grade stockpiles being treated resulted in low carat production for the quarter. During Q2 we will continue to work to find the best grade in the large stockpile we are treating, while we close in on accessing the high grade NEX orebody at the end of Q2”
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