Q4 2025 Mountain Province Diamonds Inc Earnings Call Transcript
Key Points
- Mountain Province Diamonds Inc (MPVDF) achieved a record low total recoverable injury frequency rate of 2.2 in 2025, indicating strong safety performance.
- The company saw a significant increase in production in Q4 2025, with nearly 1.9 million carats recovered at a grade of 2.25 carats per tonne.
- Daily production increased from 9,000 carats at the start of 2025 to 25,000 carats a day in November and December, showing operational improvement.
- Access to the high-grade 5034 NEX ore body was achieved as planned, which is expected to enhance future production.
- Despite challenging market conditions, the company maintained a focus on corporate social responsibility and high standards in diamond production.
- Mountain Province Diamonds Inc (MPVDF) faced a challenging diamond market, particularly for smaller stones, due to global uncertainty and geopolitical factors.
- The company experienced significant financial pressure with a full-year loss of $154 million in 2025, compared to a profit in 2024.
- Average selling prices for diamonds fell to USD52 per carat in Q4 2025, unchanged from Q3, and lower than any quarter since the mine opened.
- The company was unable to meet its share of mining costs, leading to financial support from its partner, De Beers, and liquidity challenges.
- A material impairment charge of $103 million was recorded in Q4 2025, contributing to the financial strain and delaying the earnings call.
Good morning, ladies and gentlemen, and welcome to the Mountain Province Diamonds Inc. Q4 2025 Webcast and Conference Call. (Operator Instructions). This call is being recorded on Wednesday, April 1, 2026. I would now like to turn the conference over to Jonathan Comerford. Please go ahead.
Good day to everyone who has dialled in to listen to our Q4 and year-end 2025 results call. My name is Jonathan Comerford, and I am President and CEO of the company. Also present on this call is Steve Thomas, our CFO, and Reid Mackie, our Head of Diamond Sales and Marketing. At the conclusion of this presentation, we will be available for any questions you may have.
Firstly, I would like to draw your attention to our cautionary statement regarding forward-looking information. This presentation will be posted on our website for anyone who needs additional time to review the statement.
Mountain Province Diamonds produces Canadian diamonds
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