143 0 Kommentare Mountain Province Diamonds Announces Second Quarter 2020 Production Results and Provides Conference Call Details - Seite 3

The sale to Dunebridge has allowed the company to maintain its liquidity and meet its current expense obligations. The Company expects to resume its normal market structured sales starting in September.

Stuart Brown, the Company's President and Chief Executive Officer, commented:

"Our lower Q2 production figures in comparison to previous quarters are direct results of the impacts of the Coronavirus on our operations at the GK Mine and do not reflect normal operating conditions. At the start of the pandemic, we immediately modified our operating procedures to reduce the risk of the virus on site in order to ensure the health and safety of our workers. We will continue operating under the newly modified conditions until there is a solution to this crisis. Looking ahead, I am confident that we will meet our revised guidance of 6.3 – 6.4 million carats for 2020, which is a very credible performance of our operations in comparison to our original budget of 6.75 – 6.95 million carats given the challenges posed by the COVID-19 pandemic."

"While prices in the post COVID-19 period remain under pressure the demand for rough diamonds is gradually opening up with demand for certain categories being demonstrated. COVID-19 issues with respect to travel, self-imposed trading bans, and limited retail trading are likely to be in effect for the short term. We believe the market will start improving later in Q3 of this year and strengthen with the start of the major retail season towards the end of the year and into 2021. We aim to resume our traditional sales methods in September."

Q2 2020 Conference Call Dial-In Details:

The Company will release its Q2 2020 financial results on Wednesday August 5^th, 2020 after market hours. The Company will host its quarterly conference call on Thursday August 6^th, 2020 at 11:00am ET.

Title: Mountain Province Diamonds Inc. Q2 2020 Earnings Conference Call
Conference ID: 99633195
Date of call: 08/06/2020
Time of call: 11:00 Eastern Time
Expected Duration: 60 minutes