Mountain Province Diamonds Announces Fourth Quarter and Full Year 2018 Production and Sale Results

TORONTO and NEW YORK, January 15, 2019 /PRNewswire/ --

All figures in USD$

TSX and NASDAQ: MPVD 

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) and (NASDAQ: MPVD) today announces production and sales results for the fourth quarter ended December 31, 2018 ("Q4 2018") and full year 2018 ("FY 2018") from the Gahcho Kué Diamond Mine ("GK Mine"). 

Q4 and Full Year 2018 Production Highlights
(all figures reported on a 100% basis unless otherwise stated) 

• 751,448 tonnes treated during the fourth quarter, 8% higher than the same quarter last year. For the full year 2018, the plant treated 3,194,360 tonnes,15% higher than in FY 2017.
• In Q4 2018,1,545,786 carats were recovered at an average grade of 2.06 carats per tonne. Full year 2018, 6,936,894 carats at an average grade of 2.17 carats per tonne, 17% higher than total carats recovered in 2017.
• In Q4 2018, the Company sold 822,548 carats at an average value of $USD 65 per carat ($CAD 86 per carat) for total proceeds of $USD 53.6 million ($CAD 70.5 million). For the full year 2018, the Company sold 3,252,491 carats at an average value of $USD 74 per carat ($CAD 96 per carat) for total proceeds of $USD 240 million ($CAD 311 million).

Q4 and FY 21018 Production Statistics^[1]

   
                                                    YoY                              YoY
                            2018 Q4    2017 Q4  Variance    FY 2018    FY 2017   Variance

    Total tonnes mined   11,365,990  8,665,000       31% 41,444,057 33,036,000        25%
    (ore and waste)                  
                                       
    Ore tonnes mined        670,707    839,000      -20%  2,908,184  3,513,000       -17%              
                                        
    Ore tonnes treated      751,448    693,000        8%  3,194,360  2,775,000        15%

    Carats recovered      1,545,786  1,627,000       -5%  6,936,894  5,934,000        17%

    Carats recovered        757,435    797,000       -5%  3,399,078  2,908,000        17%
    (49% share)
      
    Recovered grade            2.06       2.35      -12%       2.17       2.14         1%
    (carats per tonne)

    All figures reported are on 100% basis unless otherwise stated

Q4 and Full Year 2018 Diamond Sales