Business
Mountain Province Diamonds Announces Revenue Uplift Based on Higher Realized Diamond Prices
Mountain Province Diamonds Announces Revenue Uplift Based on Higher Realized Diamond Pric...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n \n \n \n Mountain Province Diamonds Announces Revenue Uplift Based on Higher Realized Diamond Prices\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX and OTCQX: MPVD\n \n \n \n \n TORONTO\n \n and\n \n NEW YORK\n \n ,\n \n Dec. 6, 2021\n \n /CNW/ - Mountain Province Diamonds Inc. (\"Mountain Province\", or the \"Company\") (TSX and OTCQX: MPVD) is pleased to announce the results of its most recent\n \n December 2021\n \n diamonds sale, as well as the aggregate sales results for the fourth quarter of 2021.\n \n \n \n \n \n \n \n \n \n During the most recent\n \n December 2021\n \n sale, 388,573 carats were sold for total proceeds of\n \n $42.7 million\n \n (\n \n US$33.3 million\n \n ), resulting in an average value of\n \n $110\n \n per carat (\n \n US$86\n \n per carat).\n \n \n This continues the steady improvement through the fourth quarter of 2021 where inclusive of the most recent December sale, 808,739 carats were sold for total proceeds of\n \n $85.2 million\n \n (\n \n US$67.5 million\n \n ) resulting in an average value of\n \n $105\n \n per carat (\n \n US$83\n \n per carat). This brings FY21 sales to 3,158,418 carats, for total proceeds of\n \n $298.4 million\n \n (\n \n US$236.9 million\n \n ) resulting in a FY21 average value of\n \n $94\n \n per carat (\n \n US$75\n \n per carat).\n \n \n The Company has now surpassed more than\n \n US$1billion\n \n in revenue since it began selling in Q1 2017. Recent sales have seen unprecedented levels of demand for the Company's brown diamonds, lower qualities and smaller sizes as supplies from other productions such as Argyle, are now largely absent from the market.\n \n \n \n \n Mark Wall\n \n , the Company's President and Chief Executive Officer, commented:\n \n \n \n \"The price acceleration that we've seen leading into the final quarter of the year has continued, most notably in the smaller size fractions of our diamonds. This price appreciation has resulted in the Company achieving the 3\n \n rd\n \n highest quarterly average value per carat figure in its hist...