Mountain Province Diamonds Inc. sold 869,520 carats for total proceeds of $43.5 million during the second quarter of 2026, generating an adjusted EBITDA of $8.4 million at the Gahcho Kué diamond mine in Canada’s Northwest Territories.

The figures compare with the second quarter of 2025, when Mountain Province sold 411,114 carats for total proceeds of $36.8 million at an average price of $90 per carat. In the latest period, the average price realized reached $50 per carat.

The company reported a net loss of $120.6 million, or $0.57 per share, for the three months ended June 30, 2026, compared to a net loss of $37.7 million, or $0.18 per share, in the same period of 2025. The latest bottom-line result included foreign exchange losses of $11.3 million, driven largely by unrealized losses on the translation of US-dollar-denominated long-term debt amid a weakening Canadian dollar. Loss from mine operations widened to $89.8 million from $52.6 million in the prior-year period.

Operational output at the mine remained robust. The plant treated 891,293 tonnes of ore during the quarter at an average grade of 2.26 carats per tonne, yielding 2,014,563 carats recovered on a 100% basis. That production volume represents a 185% increase over the 708,072 carats recovered in the second quarter of 2025, when the average grade stood at 0.80 carats per tonne. In the preceding first quarter of 2026, the operation recovered 2,006,135 carats at an average grade of 2.64 carats per tonne.

“The second quarter delivered another very strong safety and operational performance at the GK Mine, with more than 2.0 million carats recovered for the second consecutive quarter. Q2 2026 production was 185% higher than Q2 2025, driven primarily by exceptionally high recovered grades. This resulted in a record first half of the year in terms of carats recovered and demonstrates the significant grades that can be achieved from the GK resource.”

— Jonathan Comerford, President and Chief Executive Officer

Mountain Province holds a 49% participant interest in the Gahcho Kué joint venture alongside operator De Beers Canada. The company also controls more than 113,000 hectares of mineral claims and leases surrounding the active mine operations.

“Against this backdrop and with GK being the last operating diamond mine in Canada, MPV continues to work tirelessly with our joint venture partner, lenders, government authorities and other stakeholders to obtain support to stabilise its financial position and continue as a going concern.”

— Jonathan Comerford, President and Chief Executive Officer

Read the full announcement: Mountain Province Diamonds Announces Second Quarter Financial Results for 2026