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03.01.2018 20:37
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PR Newswire
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Mountain Province Diamonds Results of Tenth Diamond Sale
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PR Newswire
TORONTO and NEW YORK, Jan. 3, 2018
Shares Issued and Outstanding: 160,253,501
TSX and NASDAQ: MPVD
TORONTO and NEW YORK, Jan. 3, 2018 /PRNewswire/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX and NASDAQ: MPVD) today announces the results of its recently completed tenth diamond sale.
The results of the tenth sale, with preceding sale results for comparative context, are summarized as follows:
| | | | | | | |
| | 2017-Q1 Sales 1-3 | 2017-Q2 Sales 4-5 | 2017-Q3 Sales 6-7 | 2017-Oct Sale 8 | 2017-Nov Sale 9 | 2017-Dec Sale 10 |
|
Tender Sale Proceeds (USD million) | 37.7 | 33.8 | 48.0 | 21.3 | 19.0 | 19.1 |
| Carats Sold ('000s) | 522 | 370 | 753 | 353 | 288 | 364 |
| Value per Carat (USD)1 | 72 | 91 | 64 | 60 | 66 | 53 |
| Normalized Value per Carat (USD) | 72 | 792 | 672 | 632 | 712 | 652 |
| | |
| 1 | Diamonds sold at individual sale events will not directly reflect run-of-mine production from specific processing periods. The timing of the sale of some goods may be accelerated or deferred for tactical marketing purposes. Realized average value per carat is also impacted by the binary nature of the fancies and specials bidding process within each production split, conducted approximately every five weeks with the Company's joint venture partner, De Beers Canada Inc. The winning party of each fancies and specials bid then markets 100% of those diamonds. |
| 2 | Normalized to adjust for goods accelerated or deferred, and to include fancies and specials acquired through bid by De Beers Canada Inc. |
Prices across all assortment categories continued to firm, increasing an average of 3% over the ninth sale.
No fancies or specials were offered in this tenth tender sale as the fancies and specials bid for the related production split was won by De Beers. Including the value of the fancies and specials had Mountain Province won the bid, the normalized value per carat realized in the tenth sale was US$65. The decrease in average price realization compared to the ninth sale is due primarily to a finer size distribution of goods. Notably, the last production split of 2017, which will supply the January tender sale, saw significant volumes, an improved size frequency distribution and the largest parcel of fancy and special diamonds produced to date, both in value and volume terms.
Said Reid Mackie, the Company's Vice President Diamond Marketing, "Our tenth sale saw further stabilization of rough prices and strengthening of competition with over 150 companies attending the tender, the highest to date. This, combined with solid holiday sales results reported by the retail sector, bodes well for a positive rough market re-opening in January."
To more meaningfully relate prices realized at sale events to production results, the Company also provides the following table:
| | | | | | | | | |
| Production Period4 | Inception |
H1 2017 | July | Aug | Sep 2017 |
Oct 2017 |
Nov 2017 | YTD |
| | | | | | | | | |
| Sale in Which Goods Were Primarily Sold | 1 & 2 | 3 to 7 & | Partial 8 | 9 | 10 | n/a2 | n/a2 | |
| Tonnes Processed (100%) ('000s) | 515 | 1,259 | 314 | 269 | 2413 | 263 | 223 | 2,568 |
| Recovered Grade (carats per tonne) | 1.64 | 1.97 | 2.13 | 2.32 | 2.22 | 2.40 | 2.11 | 2.11 |
| Carats Recovered (100%) ('000s) | 847 Werbung Mehr Nachrichten zur Mountain Province Diamonds Aktie kostenlos abonnieren
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