Mountain Province says Price per Carat is up 60%

By John Jeffay / August 10, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Mountain Province saw profits almost static (up by less than one per cent) during the last quarter as higher per-carat prices made up for a steep fall in sales volume.The Canada-based miner said carats sold during the three months ending 30 June were down 18 per cent, year-on-year, but the average price per carat leapt from $82 to $131, (figures are US dollars) an increase of almost 60 per cent.Profit for the quarter was $17.7m, although half-yearly profits were up by almost 58 per cent to $39.2m.Mountain Province which operates Gahcho Kue (pictured), in Northwest Territories, in a joint venture with De Beers, said it was a "strong financial performance".Mark Wall, president and CEO, did note, however that "there remain other areas of the operational performance that do not meet our expectations.He said: "We continue to actively engage with De Beers as the operator around the plan to deliver these improvements."

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok