Mountain Province Diamonds Inc. announced production results for the fourth quarter ended December 31, 2017 from the Gahcho Kué Diamond Mine.
Mountain Province Diamonds Inc. (TSX:MPVD) announced production results for the fourth quarter ended December 31, 2017 from the Gahcho Kué Diamond Mine.
Highlights are as follows:
- Mining of overburden, waste rock and ore in the 5034 open pit for the fourth quarter was approximately 8.7 million tonnes, with approximately 840,000 tonnes of ore (100 percent basis) mined but remaining untreated at period end.
- In the fourth quarter of 2017, the GK Mine treated approximately 693,000 tonnes of ore through the process plant and recovered approximately 1,627,000 carats on a 100% basis for an average grade of approximately 2.35 carats per tonne. The Company’s attributable share of fourth quarter diamond production was approximately 797,000 carats.
David Whittle, interim president and CEO, stated :
These production results have notably exceeded our upwardly-revised full-year 2017 production guidance of 5.5 million carats recovered on a 100% basis (actual is 8% greater than guidance). This was driven by overperformances in both ore tonnes processed (actual is 3% greater than guidance) and grade recovered. Ice road development is progressing on schedule, with shipments to site expected to commence by the end of the month. As well, production results continue to track on budget into 2018, with winterization measures implemented this past year showing to have been effective. The Gahcho Kué team is to be congratulated for achieving such a strong performance in the mine’s first full year of operations.