Mountain Province Diamonds Results of Third Diamond Sale of 2018 - Seite 2

Market conditions leading up to this third sale were consistent with those experienced during the first two sales of the year.  Prices in the larger, better quality goods were stable to firmer, while those for smaller lower-quality goods softened slightly consistent with seasonal expectations.  In general, conditions were firmer through the first quarter of 2018 than those experienced in the opening quarters of recent years.  Customer participation continued to be robust, with 171 companies attending the tender and an average of 12.9 bids received per lot.

Said Reid Mackie, the Company's Vice President Diamond Marketing, "This represents a solid outcome for our third sale of the year.  We are encouraged to see high demand levels maintained at our tender process, and the underpinning of price gains we achieved at sales during this past quarter."

To more meaningfully relate prices realized at sale events to production results, the Company also provides the following table:

    Production            H1         Q3       Oct       Nov       Dec      Jan     Feb
    Period[3]           2017       2017      2017      2017      2017     2018    2018
                  
    Sale in Which
    Goods Were
    Primarily       3 to 7 &     Partial 8
    Sold           Partial 8      to 10         1         1       2&3      2&3    n/a[2]
    Tonnes
    Processed
    (100%)
    ('000s)            1,259        823       263       236       194      327     217
    Recovered
    Grade (carats
    per tonne)          1.97       2.22      2.40      2.22      2.42     1.89    2.05
    Carats
    Recovered
    (100%)
    ('000s)            2,481      1,825       632       525       470      618     444
    Carats
    Recovered
    (49% share)
    ('000s)            1,216        894       310       230       257      303     218
    Attributed
    Value per
    Tonne in
    CAD[1]               183        172      214[3]     198       212      167   n/a[2]

                  Attributed Value per Tonne has been determined based on
                  realized sale results, with any accelerated or deferred goods
                  adjusted to their period of production, reflecting only the
                  Company's 49% share of all diamonds including fancies and
    [1]           specials.
                  Not applicable as goods from this production period have not
    [2]           yet been sold.
                  Total figures may differ slightly from the sum of monthly
    [3]           figures due to the effects of rounding.