Mountain Province Diamonds’ Mixed 2023 Results

Mountain Province Diamonds Inc. (TSE:MPVD) has released an update.

Mountain Province Diamonds Inc. reports a challenging fiscal year for 2023, with a 43% improvement in safety but an 8% drop in adjusted EBITDA to $165 million and a net loss of $43.7 million, a stark contrast to 2022’s net income. Despite a 9% increase in total tonnes mined and a 5% increase in tonnes treated, sales revenue fell to $328.6 million from $388.9 million the previous year, alongside a decrease in average realized value per carat. The company also managed to repay US$18 million in senior secured notes amidst these financial headwinds.

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