Mountain Province Diamonds Inc. Reports First Quarter Financial Results for 2025

Toronto, May 13, 2025 — Mountain Province Diamonds Inc. (“Mountain Province”), a materials company specializing in diamond exploration and development, has released its financial results for the first quarter of 2025. The company, listed on the Toronto Stock Exchange under the ticker MPVD, operates primarily in the Metals & Mining sector and holds interests in the AK and CJ claims in Canada’s Northwest Territories.

Financial Highlights

For the quarter ending March 31, 2025, Mountain Province reported the sale of 426,000 carats from the Gahcho Kué Diamond Mine (“GK Mine”), generating total proceeds of $44.0 million (approximately US$30.7 million). The average realized value per carat was $103 (US$72). Despite these sales, the company faced significant financial challenges, reporting an adjusted EBITDA of $6.1 million. However, the loss from mine operations was substantial, amounting to $22.4 million, leading to a net loss of $34.4 million for the quarter. This translates to a basic and diluted earnings per share (EPS) of -$0.16.

Market Context

Mountain Province’s stock has experienced volatility, with a close price of $0.07 on May 11, 2025. The company’s 52-week high was $0.21 on May 14, 2024, while the low was $0.05 on April 7, 2025. The market capitalization stands at approximately CAD 13.85 million, reflecting the challenges faced by the company in the current market environment.

Operational Insights

The financial results highlight the operational difficulties at the GK Mine, which have impacted the company’s profitability. Despite the high average realized value per carat, the operational losses underscore the challenges in maintaining cost efficiency and profitability in the mining sector.

Looking Ahead

Mountain Province Diamonds Inc. continues to focus on its strategic initiatives to enhance operational efficiency and explore new opportunities within its diamond properties. The company remains committed to its long-term vision of becoming a leading diamond producer in Canada.

For more information, visit Mountain Province Diamonds’ website .

This summary provides an overview of Mountain Province Diamonds Inc.’s financial performance for the first quarter of 2025, highlighting key financial metrics and operational insights.