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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a fantastic 124-49-137 as the TSX Venture Exchange surged 22 points to 908. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) was nevertheless unchanged at four cents on 92,000 shares. The company revealed its third quarter production and sales report late last week, and while the faint of heart should probably look away, the gloom does come with a hint of hope.

Mountain Province and its co-venturer, De Beers, mined 807,000 tonnes of kimberlite at their shared Gahcho Kue mine in the Northwest Territories during the summer quarter, processing a total of 847,000 tonnes including some stockpiled ore. From that material, the mine produced one million carats, a grade of 1.18 carats per tonne.

Yes, that is less than the 1.24 carats per tonne achieved a year ago, and yes, all the tonnage and carat metrics are below the 2024 performance. Still, the grade, carat count and tonnes mined are appreciably better than in the spring quarter, when Gahcho Kue managed barely 708,000 carats at a grade of 0.8 carat per tonne -- and had mined just 135,000 tonnes.

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