Mountain Province Diamonds
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Mountain Province Diamonds (MPVD) investor relations material

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Mountain Province Diamonds Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary13 Aug, 2026

Executive summary

  • Q2 2026 saw record operational performance with 2.0 million carats recovered, a 185% increase year-over-year, driven by exceptionally high recovered grades.

  • Despite strong production, the diamond market remains challenged by weak pricing and demand due to geopolitical and economic uncertainty, including US tariffs.

  • GK Mine is now the last operating diamond mine in Canada, highlighting its strategic importance amid recent sector closures.

Financial highlights

  • Q2 2026 revenue was $43.5 million from 869,520 carats sold at an average price of $50 per carat, compared to $36.8 million from 411,114 carats at $90 per carat in Q2 2025.

  • Adjusted EBITDA for Q2 2026 was $8.4 million, up from negative $2.2 million in Q2 2025.

  • Loss from mine operations was $89.8 million, compared to a $52.6 million loss in Q2 2025.

  • Net loss for Q2 2026 was $120.6 million ($0.57 per share), versus $37.7 million ($0.18 per share) in Q2 2025, including $11.3 million in unrealized foreign exchange losses.

  • H1 2026 net loss totaled $185.7 million ($0.87 per share), with total sales revenue of $83.5 million at $48 per carat.

Outlook and guidance

  • Recent diamond sales showed some price improvement, possibly due to tightening global supply, but market recovery remains uncertain.

  • The company is working with partners and stakeholders to stabilize its financial position and ensure ongoing operations.

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Frequently asked questions

Mountain Province Diamonds Inc. is a mining company engaged in the exploration and production of diamonds. The company owns a 49% interest in the Gahcho Kué diamond mine, with the remaining 51% held by De Beers Group. Located in Canada's Northwest Territories, Gahcho Kué is one of the largest diamond mines globally. Mountain Province Diamonds focuses on extracting and selling rough diamonds, serving the global gemstone market. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.