{"id":464823,"date":"2021-03-25T06:03:38","date_gmt":"2021-03-25T10:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464823"},"modified":"2021-03-25T06:03:38","modified_gmt":"2021-03-25T10:03:38","slug":"mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/","title":{"rendered":"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p \/>\n<p>\n        <b>TSX and OTCQX: MPVD<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span> and <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">March 25, 2021<\/span> \/PRNewswire\/ &#8211;<b>\u00a0<\/b>Mountain Province Diamonds Inc. (&#8220;Mountain Province&#8221;, or the &#8220;Company&#8221;) (TSX: MPVD) (OTCQX: MPVD) today announces its financial and operating results for the fourth quarter (&#8220;the Quarter&#8221; or &#8220;Q4 2020&#8221;) and the full year ended <span class=\"xn-chron\">December 31, 2020<\/span> (&#8220;FY 2020&#8221;). \u00a0All figures are expressed in Canadian dollars unless otherwise noted and are unaudited.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1473665\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1473665\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.jpg\" title=\"Mountain Province Diamonds Inc. Logo (CNW Group\/Mountain Province Diamonds Inc.) (CNW Group\/Mountain Province Diamonds Inc.)\" alt=\"Mountain Province Diamonds Inc. Logo (CNW Group\/Mountain Province Diamonds Inc.) (CNW Group\/Mountain Province Diamonds Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Operational Highlights for Q4 and FY 2020<br \/><\/b><br \/>\n        <b>(<\/b><br \/>\n        <b>all figures reported on a 100% basis unless otherwise stated<\/b><br \/>\n        <b>)<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>9,796,823 total tonnes mined during the quarter, a 12% decrease on the comparable period (Q4 2019: 11,089,408). 35,870,474 total tonnes mined during FY 2020, a 17% decrease from the comparable period (FY 2019: 43,224,827). <\/li>\n<li>840,261 ore tonnes mined during the quarter, a 6% decrease on the comparable period (Q4 2019: 890,886). 3,286,843 ore tonnes mined during FY 2020, a 1% increase from the comparable period (FY 2019: 3,247,324). <\/li>\n<li>736,138 ore tonnes treated during the quarter, a 21% decrease on the comparable period (Q4 2019: 936,903). 3,245,941 ore tonnes treated during FY 2020, a 9% decrease from the comparable period (FY 2019: 3,580,551). <\/li>\n<li>1,521,617 carats recovered during the quarter at an average grade of 2.07 carats per tonne, 23% lower than the comparable quarter (Q4 2019: 1,977,438 carats at 2.11 carats per tonne). 6,518,261 carats recovered during FY 2020 at an average grade of 2.01 carats per tonne, 4% lower than the comparable period (FY 2019: 6,820,631 at 1.90 carats per tonne).<\/li>\n<\/ul>\n<p>\n        <b>Q4 and FY 2020 Production Statistics<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prnpl6 prnsbl1 prnpr14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020 Q4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019 Q4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YoY<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Variance<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>FY 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>FY 2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YoY<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Variance<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prnsbt1 prnrbrs prnvab prnsbb1 prnpl6 prnsbl1 prnpr14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total tonnes mined (ore and waste)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,796,823<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,089,408<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-12%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,870,474<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,224,827<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-17%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ore tonnes mined<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">840,261<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">890,886<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-6%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,286,843<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,247,324<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ore tonnes treated<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">736,138<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">936,903<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-21%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,245,941<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,580,551<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-9%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Carats recovered<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,521,617<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,977,438<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-23%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,518,261<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,820,631<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Carats recovered (49% share)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">745,592<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">968,945<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-23%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,193,948<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,342.109<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Financial Highlights for Q4 2020<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>957,000 carats sold (Q4 2019: 772,000), with total proceeds of <span class=\"xn-money\">$80.2 million<\/span> (<span class=\"xn-money\">US$61.7 million<\/span>) compared to <span class=\"xn-money\">$65.0 million<\/span> in Q4 2019, (<span class=\"xn-money\">US$49.2 million<\/span>) at an average realised value of <span class=\"xn-money\">$84<\/span> per carat <span class=\"xn-money\">(US$65)<\/span>, Q4 2019: <span class=\"xn-money\">$84<\/span> per carat, <span class=\"xn-money\">(US$64)<\/span>. <\/li>\n<li>Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$37.0 million<\/span>. <\/li>\n<li>Earnings from mine operations of <span class=\"xn-money\">$22.8 million<\/span>. <\/li>\n<li>736,138 ore tonnes treated and 1,521,617 carats recovered on a 100% basis for an average recovered grade of approximately 2.07 carat per tonne.Cash costs of <span class=\"xn-money\">$116<\/span> per tonne treated and <span class=\"xn-money\">$56<\/span> per carat recovered, include capitalized stripping costs<sup>1<\/sup>. <\/li>\n<li>Impairment charge of <span class=\"xn-money\">$217.4 million<\/span> to the carrying value of the Gahcho Ku\u00e9 Mine&#8217;s property, plant and equipment, attributable to a downward revision of pricing assumptions with respect to the diamonds within the Tuzo kimberlite pipe, a stronger Canadian dollar relative to the US dollar, and an increase in discount rate assumptions due to market related factors. <\/li>\n<ul type=\"circle\">\n<li>Two Tuzo kimberlite large bulk samples amounting to a total of 121,860 carats yielded a finer size frequency distribution (SFD) in comparison to the smaller historical sample of 2,321 carats. <\/li>\n<li>The valuation work on the bulk samples has now been completed. The Company conducted an internal valuation at prevailing market prices as well as engaging WWW International Diamond Consultants (WWW) to provide an independent valuation of the bulk samples. Based on diamond price modeling of the large bulk samples by WWW the value estimates for Tuzo range between a low value of <span class=\"xn-money\">US$45<\/span> per carat and higher value of <span class=\"xn-money\">US$53<\/span> per carat with a base case of <span class=\"xn-money\">US$48<\/span> per carat. This is an adjustment from the previous modelled value base case of <span class=\"xn-money\">US$62<\/span> per carat.<\/li>\n<\/ul>\n<li>Net loss of <span class=\"xn-money\">$189.2 million<\/span> or <span class=\"xn-money\">$0.90<\/span> loss per share.\u00a0 Included in the determination of net loss for the three months ended <span class=\"xn-chron\">December 31, 2020<\/span> is an impairment loss on property, plant and equipment of <span class=\"xn-money\">$217.4 million<\/span> and unrealized foreign exchange gains of <span class=\"xn-money\">$18<\/span>.6\u00a0million, on the translation of the Company&#8217;s USD-denominated long-term debt and Dunebridge revolving credit facility. The unrealized foreign exchange gains are a result of the relative strengthening of the Canadian dollar versus the US dollar. <\/li>\n<\/ul>\n<div>\n<table id=\"convertedTable6a7b\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup>Cash costs of production, including capitalized stripping costs, and adjusted EBITDA are non-IFRS measures with no standardized meaning prescribed under IFRS.\u00a0 See the Non-IFRS Measures section of the Company&#8217;s December 31, 2020 MD&amp;A for explanation and reconciliation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Financial Highlights for Full Year 2020<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Total sales revenue at <span class=\"xn-money\">$227 million<\/span> (<span class=\"xn-money\">US$171 million<\/span>) compared to <span class=\"xn-money\">$276 million<\/span> in 2019 (<span class=\"xn-money\">US$208 million<\/span>) at an average realized value of <span class=\"xn-money\">$68<\/span> per carat <span class=\"xn-money\">(US$51)<\/span> 2019: <span class=\"xn-money\">$84<\/span> per carat, <span class=\"xn-money\">(US$63)<\/span>. <\/li>\n<li>Adjusted EBITDA<sup>2<\/sup> of <span class=\"xn-money\">$51.2 million<\/span> down 41% (2019: <span class=\"xn-money\">$87.1 million<\/span>). <\/li>\n<li>Loss from mine operations down 106% to <span class=\"xn-money\">$1.5 million<\/span> (2019: earnings from mine operations <span class=\"xn-money\">$24.8 million<\/span>). <\/li>\n<li>No repurchases of outstanding secured notes payable (2019: <span class=\"xn-money\">$13.2 million<\/span> (<span class=\"xn-money\">US$10.0 million<\/span>)). <\/li>\n<li>Cash costs of production, including capitalized stripping costs<sup>2,3<\/sup> of <span class=\"xn-money\">$103<\/span> per tonne treated (2019: <span class=\"xn-money\">$103<\/span> per tonne) and <span class=\"xn-money\">$51<\/span> per carat recovered (2019: <span class=\"xn-money\">$54<\/span> per carat).\u00a0 <\/li>\n<li>Net loss of <span class=\"xn-money\">$263.4 million<\/span> or <span class=\"xn-money\">$1.25<\/span> loss per share (2019: net loss <span class=\"xn-money\">$128.8 million<\/span> or <span class=\"xn-money\">$0.61<\/span> loss per share).\u00a0Included in the determination of net loss is an impairment loss on property, plant and equipment of <span class=\"xn-money\">$217.4 million<\/span> (2019: <span class=\"xn-money\">$115.8 million<\/span>) offset by an unrealized foreign exchange gain of <span class=\"xn-money\">$12.3 million<\/span> (2019: <span class=\"xn-money\">$20.8 million<\/span>) on the translation of the Company&#8217;s USD-denominated long-term debt and Dunebridge revolving credit facility. The unrealized foreign exchange gain is a result of the strengthening of the Canadian dollar versus US dollar. <\/li>\n<li>Capital expenditures were <span class=\"xn-money\">$38.8 million<\/span>, <span class=\"xn-money\">$25.7 million<\/span> of which were deferred stripping costs, with the remaining <span class=\"xn-money\">$13.1 million<\/span> accounting for sustaining capital expenditures related to mine operations. \u00a0<\/li>\n<\/ul>\n<div>\n<table id=\"convertedTable6af8\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>2 <\/sup>Cash costs of production, including capitalized stripping costs, and Adjusted EBITDA are non-IFRS measures with no standardized meaning prescribed under IFRS.\u00a0 See the Non-IFRS Measures section of the Company&#8217;s December 31, 2020 MD&amp;A for explanation and reconciliation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>3<\/sup>\u00a0In FY 2020 a total of 35.9 million tonnes mined, compared to a total of 43.2 million tonnes mined in 2019; a 17% decrease year over year.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Market Highlights for Q4 and Full Year 2020<\/b>\n      <\/p>\n<p>In Q4 2020, 957,120 carats were sold at an average value of <span class=\"xn-money\">$84<\/span> per carat (<span class=\"xn-money\">US$65<\/span> per carat) for total proceeds of <span class=\"xn-money\">$80.2 million<\/span> (<span class=\"xn-money\">US$61.7 million<\/span>) in comparison to 771,799 carats sold at an average value of <span class=\"xn-money\">$84<\/span> per carat (<span class=\"xn-money\">US$64<\/span> per carat) for total proceeds of <span class=\"xn-money\">$65.0 million<\/span> (<span class=\"xn-money\">US$49.2 million<\/span>) in Q4 2019.\u00a0 <\/p>\n<p>During FY 2020, 3,329,289 carats were sold at an average value of <span class=\"xn-money\">$68<\/span> per carat (<span class=\"xn-money\">US$51<\/span> per carat) for total proceeds of <span class=\"xn-money\">$227 million<\/span> (<span class=\"xn-money\">US$171 million<\/span>) in comparison to 3,284,520 carats sold at an average value of <span class=\"xn-money\">$84<\/span> per carat (<span class=\"xn-money\">US$63<\/span> per carat) for total proceeds of <span class=\"xn-money\">$276 million<\/span> (<span class=\"xn-money\">US$208 million<\/span>) in FY 2019.\u00a0 <\/p>\n<p>The Company remains optimistic that as the world emerges from the effects of the coronavirus pandemic (&#8220;COVID-19&#8221;), the recovery of both rough diamond and polished diamond prices will continue, as seen during the last quarter of 2020 and the first quarter of 2021. Retail sales have recovered well and should continue to benefit from the pent-up savings that will be spent when economies reopen.<\/p>\n<p>\n        <b>Mountain Province President and CEO <span class=\"xn-person\">Stuart Brown<\/span> commented<\/b>: <\/p>\n<p>&#8220;2020 was a challenging year for the Company and Gahcho Ku\u00e9 Mine, with pandemic-related personnel shortages and an inability to trade in the rough markets due to global lock-downs driving our underperformance. While rough markets opened up at the end of the third quarter, challenges with production continued into early 2021, compounded by a COVID-19 outbreak that forced a 3-week operational stand-down in February, further impacting our ability to mine and recover diamonds. The uncertainty and fluid nature of the COVID-19 pandemic and the ongoing impacts to production as we restart the mine are hampering our plans to address the resultant production shortfalls, however, we are working with De Beers Canada to ensure that we can recover the lost carats with increased plant throughput throughout the remainder of the year. This revised plan for 2021 will be available in the second quarter and we will update the market as soon as it is available.<\/p>\n<p>With regards to the Tuzo bulk samples, The Company will obtain more confidence of the market value when it has sold its share of the samples later in the second quarter, which will enable us to be more certain with respect to the diamond values. Thereafter, together with De Beers Group, a new mine plan will be developed, with the maximization of profitability, reductions in costs and mine life as guiding parameters.<\/p>\n<p>In a positive development relative to the production setbacks, rough diamond prices have continued to improve in the opening months of 2021 as demand for rough diamonds remains robust. Overall, our current average diamond values, like for like, are now above pre-Covid levels.<\/p>\n<p>Despite these improving market conditions, we continue to be cognizant of the potential impacts of the ongoing pandemic on Gahcho Ku\u00e9. Together with De Beers Canada and our stakeholders, we have enhanced safety measures at site to combat this virus, safeguarding the health and safety of all our employees, contractors, and the communities with which we interact. To this end it is very positive in our ongoing efforts to minimize our operational risks that with the support of the Government of the <span class=\"xn-location\">Northwest Territories<\/span>, it has been decided to implement the immediate vaccination of all employees and contractors who work at the Gahcho Ku\u00e9 site.<\/p>\n<p>2020 was certainly a very challenging year and 2021, although positive from a diamond price recovery perspective, has been equally challenging from a planning and production perspective. We remain focused on production and meeting our cash flow objectives in an ever-changing environment.&#8221;<\/p>\n<p>\n        <b>Gahcho Ku\u00e9 Mine Operations <\/b>\n      <\/p>\n<p>The following table summarizes the key operating statistics for Q4 2020 and FY 2020, and the previous year, at the Gahcho Ku\u00e9 Mine.\u00a0 <\/p>\n<p \/>\n<p \/>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Year ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>GK operating data<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Mining<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Ore tonnes mined\u00a0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0kilo tonnes\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">840<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">891<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,247<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Waste tonnes mined\u00a0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0kilo tonnes\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,956<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,199<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,583<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,978<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Total tonnes mined<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0kilo tonnes\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,796<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,090<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,225<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Ore in stockpile<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0kilo tonnes\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">269<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">228<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">269<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">228<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Processing<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Ore tonnes processed<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0kilo tonnes\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">736<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">937<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,246<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,581<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Average plant throughput<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0tonnes per day\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,270<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,297<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,869<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,811<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Average diamond recovery<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0carats per tonne\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.01<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.90<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Diamonds recovered\u00a0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0000&#8217;s carats\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,521<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,978<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,518<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,821<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Approximate diamonds recovered &#8211; Mountain Province<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">000&#8217;s carats<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">969<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,194<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,342<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs of production per tonne of ore, net of capitalized stripping **<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">99<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">91<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs of production per tonne of ore, including capitalized stripping**<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">116<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs of production per carat recovered, net of capitalized stripping**<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs of production per carat recovered, including capitalized stripping**<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Sales<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Approximate diamonds sold &#8211; Mountain Province***<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">000&#8217;s carats<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">957<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">772<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,329<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,284<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbbs prnpl30 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average diamond sales price per carat<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">US<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">64<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable4069\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">* at 100% interest in the Gahcho Ku\u00e9 Mine<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">**See Non-IFRS Measures section of the Company&#8217;s December 31, 2020 MD&amp;A for explanation and reconciliation<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">***Includes the sales directly to De Beers for fancies and specials acquired by De Beers through the production split bidding process\u00a0 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Financial Performance <\/b>\n      <\/p>\n<p \/>\n<p \/>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Year ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands of Canadian dollars, except where otherwise noted)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80,206<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65,032<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">226,993<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">276,334<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Carats sold<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prntac prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0000&#8217;s carats\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">957<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">772<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,329<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,284<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average price per carat sold<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0$\/carat\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">84<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">84<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">84<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtbl prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales per carat*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbtbl prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0$\/carat\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtbl prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbts prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">76<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings from mine operations per carat<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings from mine operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">-1%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Selling, general and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,255<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,236<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,934<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,058<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment loss on property, plant and equipment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">217,366<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,753<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">217,366<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,753<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(198,643)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(118,104)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(235,811)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(112,852)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss for the period<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(189,166)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(115,725)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(263,429)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(128,758)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnvab prnsbbs prntal prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic and diluted loss per share<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen35\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.90)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen35\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.55)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen35\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.25)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen35\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.61)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>\n        <b>Conference Call<\/b>\n      <\/p>\n<p>The Company will host its quarterly conference call on <span class=\"xn-chron\">Thursday, March 25<\/span><sup>th<\/sup>, 2021 at <span class=\"xn-chron\">11:00am ET<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <u>Title: Mountain Province Diamonds Inc Q4 Earnings Conference Call <br \/><\/u><br \/>\n        <\/b>Conference ID: 97229503\u00a0<br \/>Date of call: <span class=\"xn-chron\">03\/25\/2021<\/span><br \/>Time of call: <span class=\"xn-chron\">11:00 Eastern Time<\/span><br \/>Expected Duration: 60 minutes<\/p>\n<p>Webcast Link: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108510-1&amp;h=1080152957&amp;u=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1444279%26tp_key%3D433d45f977&amp;a=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1444279%26tp_key%3D433d45f977\" rel=\"nofollow noopener noreferrer\">https:\/\/produceredition.webcasts.com\/starthere.jsp?ei=1444279&amp;tp_key=433d45f977<\/a><\/p>\n<p>Participant Toll-Free Dial-In Number:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (+1) 888 390 0546<br \/>Participant International Dial-In Number:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (+1) 416 764 8688<\/p>\n<p>A replay of the webcast and audio call will be available on the Company&#8217;s website.<\/p>\n<p>\n        <b>About the Company<\/b>\n      <\/p>\n<p>\n        <b>Mountain Province Diamonds <\/b>is a 49% participant with De Beers Canada in the Gahcho Ku\u00e9 diamond mine located in <span class=\"xn-location\">Canada&#8217;s<\/span><span class=\"xn-location\">Northwest Territories<\/span>. The Gahcho Ku\u00e9 Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 106,202 hectares of highly prospective mineral claims and leases that surround the Gahcho Ku\u00e9 Joint Venture property that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.<\/p>\n<p>For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108510-1&amp;h=765300555&amp;u=http%3A%2F%2Fwww.mountainprovince.com%2F&amp;a=www.mountainprovince.com\" rel=\"nofollow noopener noreferrer\">www.mountainprovince.com<\/a>.<\/p>\n<p>\n        <b>Qualified Person<\/b>\n      <\/p>\n<p>The disclosure in this news release of scientific and technical information regarding <span class=\"xn-location\">Mountain Province&#8217;s<\/span> mineral properties has been reviewed and approved by <span class=\"xn-person\">Matthew MacPhail<\/span>, P.Eng., MBA, and <span class=\"xn-person\">Tom E. McCandless<\/span>, Ph.D., P.Geo., both employees of Mountain Province Diamonds and Qualified Persons as defined by National Instrument 43-101 <i>Standards of Disclosure for Mineral Projects.<\/i><\/p>\n<p>\n        <b><br \/>\n          <i>Caution Regarding Forward Looking Information<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <i>This news release contains certain &#8220;forward-looking statements&#8221; and &#8220;forward-looking information&#8221; under applicable Canadian and <span class=\"xn-location\">United States<\/span> securities laws concerning the business, operations and financial performance and condition of Mountain Province Diamonds Inc.\u00a0 Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the project of <span class=\"xn-location\">Mountain Province<\/span>; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of diamonds; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; and currency exchange rate fluctuations.\u00a0 Except for statements of historical fact relating to <span class=\"xn-location\">Mountain Province<\/span>, certain information contained herein constitutes forward-looking statements.\u00a0 Forward-looking statements are frequently characterized by words such as &#8220;anticipates,&#8221; &#8220;may,&#8221; &#8220;can,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;projects,&#8221; &#8220;targets,&#8221; &#8220;intends,&#8221; &#8220;likely,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;to be&#8221;, &#8220;potential&#8221; and other similar words, or statements that certain events or conditions &#8220;may&#8221;, &#8220;should&#8221; or &#8220;will&#8221; occur.\u00a0 Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.\u00a0 Many of these assumptions are based on factors and events that are not within the control of <span class=\"xn-location\">Mountain Province<\/span> and there is no assurance they will prove to be correct.<\/i>\n      <\/p>\n<p>\n        <i>Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, diamonds; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.<\/i>\n      <\/p>\n<p>\n        <i>These factors are discussed in greater detail in <span class=\"xn-location\">Mountain Province&#8217;s<\/span> most recent Annual Information Form and in the most recent MD&amp;A filed on SEDAR, which also provide additional general assumptions in connection with these statements.\u00a0 <span class=\"xn-location\">Mountain Province<\/span> cautions that the foregoing list of important factors is not exhaustive.\u00a0 Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.\u00a0 <span class=\"xn-location\">Mountain Province<\/span> believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon.\u00a0 These statements speak only as of the date of this news release.<\/i>\n      <\/p>\n<p>\n        <i>Although <span class=\"xn-location\">Mountain Province<\/span> has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended.\u00a0 There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.\u00a0 <span class=\"xn-location\">Mountain Province<\/span> undertakes no obligation to update forward-looking statements if circumstances or management&#8217;s estimates or opinions should change except as required by applicable securities laws.\u00a0 The reader is cautioned not to place undue reliance on forward-looking statements.\u00a0 Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed.<\/i>\n      <\/p>\n<p>\n        <i>Further, <span class=\"xn-location\">Mountain Province<\/span> may make changes to its business plans that could affect its results.\u00a0 The principal assets of <span class=\"xn-location\">Mountain Province<\/span> are administered pursuant to a joint venture under which <span class=\"xn-location\">Mountain Province<\/span> is not the operator.\u00a0 <span class=\"xn-location\">Mountain Province<\/span> is exposed to actions taken or omissions made by the operator within its prerogative and\/or determinations made by the joint venture under its terms.\u00a0 Such actions or omissions may impact the future performance of Mountain Province.\u00a0 Under its current note and revolving credit facilities <span class=\"xn-location\">Mountain Province<\/span> is subject to certain limitations on its ability to pay dividends on common stock.\u00a0 The declaration of dividends is at the discretion of <span class=\"xn-location\">Mountain Province&#8217;s<\/span> Board of Directors, subject to the limitations under the Company&#8217;s debt facilities, and will depend on <span class=\"xn-location\">Mountain Province&#8217;s<\/span> financial results, cash requirements, future prospects, and other factors deemed relevant by the Board.<\/i>\n      <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO21484&amp;sd=2021-03-25\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results-301255587.html\">http:\/\/www.prnewswire.com\/news-releases\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results-301255587.html<\/a><\/p>\n<p>SOURCE  Mountain Province Diamonds Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO21484&amp;Transmission_Id=202103250600PR_NEWS_USPR_____TO21484&amp;DateId=20210325\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire TSX and OTCQX: MPVD TORONTO and NEW YORK, March 25, 2021 \/PRNewswire\/ &#8211;\u00a0Mountain Province Diamonds Inc. (&#8220;Mountain Province&#8221;, or the &#8220;Company&#8221;) (TSX: MPVD) (OTCQX: MPVD) today announces its financial and operating results for the fourth quarter (&#8220;the Quarter&#8221; or &#8220;Q4 2020&#8221;) and the full year ended December 31, 2020 (&#8220;FY 2020&#8221;). \u00a0All figures are expressed in Canadian dollars unless otherwise noted and are unaudited. Operational Highlights for Q4 and FY 2020 ( all figures reported on a 100% basis unless otherwise stated ) 9,796,823 total tonnes mined during the quarter, a 12% decrease on the comparable period (Q4 2019: 11,089,408). 35,870,474 total tonnes mined during FY 2020, a 17% decrease from the comparable period (FY 2019: 43,224,827). 840,261 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464823","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire TSX and OTCQX: MPVD TORONTO and NEW YORK, March 25, 2021 \/PRNewswire\/ &#8211;\u00a0Mountain Province Diamonds Inc. (&#8220;Mountain Province&#8221;, or the &#8220;Company&#8221;) (TSX: MPVD) (OTCQX: MPVD) today announces its financial and operating results for the fourth quarter (&#8220;the Quarter&#8221; or &#8220;Q4 2020&#8221;) and the full year ended December 31, 2020 (&#8220;FY 2020&#8221;). \u00a0All figures are expressed in Canadian dollars unless otherwise noted and are unaudited. Operational Highlights for Q4 and FY 2020 ( all figures reported on a 100% basis unless otherwise stated ) 9,796,823 total tonnes mined during the quarter, a 12% decrease on the comparable period (Q4 2019: 11,089,408). 35,870,474 total tonnes mined during FY 2020, a 17% decrease from the comparable period (FY 2019: 43,224,827). 840,261 &hellip; Continue reading &quot;Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-25T10:03:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1473665\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results\",\"datePublished\":\"2021-03-25T10:03:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/\"},\"wordCount\":2725,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1473665\\\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\\\/\",\"name\":\"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/","og_locale":"en_US","og_type":"article","og_title":"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results - Market Newsdesk","og_description":"PR Newswire TSX and OTCQX: MPVD TORONTO and NEW YORK, March 25, 2021 \/PRNewswire\/ &#8211;\u00a0Mountain Province Diamonds Inc. (&#8220;Mountain Province&#8221;, or the &#8220;Company&#8221;) (TSX: MPVD) (OTCQX: MPVD) today announces its financial and operating results for the fourth quarter (&#8220;the Quarter&#8221; or &#8220;Q4 2020&#8221;) and the full year ended December 31, 2020 (&#8220;FY 2020&#8221;). \u00a0All figures are expressed in Canadian dollars unless otherwise noted and are unaudited. Operational Highlights for Q4 and FY 2020 ( all figures reported on a 100% basis unless otherwise stated ) 9,796,823 total tonnes mined during the quarter, a 12% decrease on the comparable period (Q4 2019: 11,089,408). 35,870,474 total tonnes mined during FY 2020, a 17% decrease from the comparable period (FY 2019: 43,224,827). 840,261 &hellip; Continue reading \"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-25T10:03:38+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1473665\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results","datePublished":"2021-03-25T10:03:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/"},"wordCount":2725,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1473665\/Mountain_Province_Diamonds_Inc__Mountain_Province_Diamonds_Annou.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/mountain-province-diamonds-announces-full-year-and-fourth-quarter-2020-results\/","name":"Mountain Province Diamonds Announces Full Year and Fourth Quarter 2020 Results - 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