Mountain Province Diamonds Provides 2020 Guidance

About this update from Mountain Province Diamonds Inc.

[{"type":"text","content":"\n\n\n\nMountain Province Diamonds Provides 2020 Guidance\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\nCanada NewsWire\nTORONTO and NEW YORK, Dec. 19, 2019\n\n\n\nTSX and NASDAQ: MPVD\n TORONTO and NEW YORK, Dec. 19, 2019 /CNW/ - Mountain Province Diamonds Inc. (\"Mountain Province\", the \"Company\") (TSX and NASDAQ: MPVD) is pleased to provide guidance for 2020 for the Gahcho Kué Mine. All amounts expressed in Canadian dollars unless otherwise stated.\n\n \n \n\n \n2020 Guidance: (all figures quoted on a 100% basis)\n42 – 43 million total tonnes mined (ore and waste) 3.3 – 3.4 million ore tonnes mined 3.3 – 3.4 million ore tonnes treated 6.75 – 6.95 million carats recovered Production costs of $105 – $115 per tonne treated Production costs of $50 – $55 per carat recovered Sustaining Capital Expenditures of $26.5 millionStuart Brown, the Company's President and Chief Executive Officer, commented: \n\"As we approach the end of 2019, I am pleased to confirm that we will achieve the upper end of our production guidance of 6.7 – 6.8 million carats recovered. Importantly, we have also reduced our cost guidance to $95 - $105 per tonne treated from the original guidance of $110 - $120 per tonne treated.  \nFrom an operational point of view, 2019 has been a strong year for Mountain Province Diamonds.  The operating team successfully managed the challenges faced throughout the year and has crucially set a solid platform for 2020, increasing the plant's capacity and allowing for greater operational flexibility. This enables Mountain Province Diamonds to explore greater opportunities for growth within its highly prospective land package. \nThe Company's guidance for 2020 demonstrates that the operating margins remain healthy and the mine continues to generate positive free cash flow, providing better leverage to fund the potential expansion of all the assets within its portfolio.\nThe second half of 2019 has clearly been challenging for all diamond producers with prices for rough diamonds experiencing s...

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