Mountain Province Increases Production Guidance
February 26, 24
(IDEX Online) - Mountain Province Diamonds has increased its production guide for this year, from 4.0m cts - 4.4m cts to 4.2m cts - 4.7m cts.
The Toronto-based miner says it now expects an increase in recovered grade at the Gahcho Kue mine it operates as a joint venture with De Beers in Northwest Territories.
It also expects improvements in plant throughput and overall process utilization (OPU) compared to previous forecasts.
Full year production in 2023 was 5.6m cts, at the low end of the company's 5.6m cts - 6.1m cts guidance.
For 2024, production costs are forecast at CAN $96 - CAN $107 (US$71 - US$79) per carat recovered, according to newly-published guidance.
Sales are forecast at 2.3m cts - 2.6m cts, down marginally on 2023 sales of 2.7m cts.
Last month the company reported FY 2023 sales of $243.7m, down 18 per cent on the previous year.
Pic shows processing plant at Gahcho Kue.