Strong Antwerp Tender Boosts Mountain Province Q4 2021 Sales Results

Rough Market
07/12/2021 16:25

At its most recent December tender in Antwerp at Bonas Group, Mountain Province reports 388,573 carats were sold for a total of US$33.3 million, resulting in an average value of US$86 per carat, continuing the steady improvement through Q4 2021. These proceeds mark an aggregate sales result of US$67.5 million for 808,739 sold carats in the fourth quarter of 2021, equaling an average value of US$83 per carat.

Mark Wall, President and CEO of Mountain Province Diamonds: "The price acceleration that we've seen leading into the final quarter of the year has continued, most notably in the smaller size fractions of our diamonds. This price appreciation has resulted in the Company achieving the 3rd highest quarterly average value per carat figure in its history, and the highest since the first quarter of 2018. Additionally, the US$86 per carat achieved in our December sale further reinforces our confidence in a robust diamond market heading into 2022, a pivotal year for the Company as we progress the streamlining of the capital structure."

According to Mountain Province, the company has now surpassed more than US$ 1 billion in revenue since it began selling in Q1 2017.