Mountain Province Diamonds Inc. (TSX:MPVD) announced that it has earned US$27.3 million for its first diamond sale of 2018. This is the company’s highest result to date in total dollar terms.
As quoted in the press release:
The diamonds offered in this first sale of 2018 were sourced from the last production split of 2017. The stronger realized values reflect the improved size distribution observed in that split as well as the quality of the fancies and specials. In addition, robust demand saw prices increase an average of approximately 7% over those of the preceding sale held in December. Note that only half of the fancies and specials from the last production split of 2017 were offered in this sale, with the remainder deferred for inclusion in the upcoming second sale of 2018.
Reid Mackie, vice president diamond marketing, commented:
Our January sale broke all records in terms of revenue and customer activity. More than 200 companies participated with 140 placing bids and delivering our highest revenue figure to date. Particularly promising is that all product areas saw healthy price increases, especially the large, special stone category which achieved both record prices per carat and the highest value individual stone sold by Mountain Province to date.