Smooth rough mining price are coming!

Mountain Province sees a sustainable

rough mining rate during 2019 to 2021

Mountain Province Diamonds provides guidance for fiscal year 2019 for the Gahcho Kué Mine as well as an update on company’s performance in 2018. All amounts expressed in Canadian dollars unless otherwise stated. During the 2018 about 3.1 to 3.2 million ore tonnes processed & 6.6 to 6.9 million carats diamond production recovered. 

During the year production costs remained around $110 – $120 per tonne processed that is $50 – $54 per carat recovered cost in 2018. 

In addition to the 2019 guidance, the Company also provides a 3-year production outlook for the Gahcho Kué Mine. 

The production guidance over the three-year period 2019 to 2021 is evidence of a sustainable and smooth mining rate as the mine performance maintains a steady state.

The mine has performed well in 2018 and there is high confidence that the tonnes treated will be on target for the year and carats recovered will be above the upper end guidance of 6.6 million carats, all of which will be achieved within the expected working cost and capital budgets stated for 2018. Stuart Brown, the Company’s President and Chief Executive Officer commented, “With the 2018 fiscal year coming to an end, we are well on our way to exceed the upper end of our 2018 guidance. 

As we look forward to 2019 and beyond, our business plan demonstrates the quality of our core asset and the excellent work that the operations team has carried out over the past year; both in exceeding the targets for the current year, and building a stronger longer term business plan that should extend the life of mine beyond 2028.