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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a horrid 49-117-144 as the TSX Venture Exchange fell seven points to 601. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) closed unchanged at 13 cents on 137,000 shares. The company rolled out its third quarter report last week, adding financial detail to the production and sales data it had revealed in mid-October. Therefore, there were few surprises in the latest report. Nevertheless, there were some eyebrow raisers lurking in the comments offered by Mr. Wall, president and chief executive officer.

While Mr. Wall offered the promoter's standard optimism about diamond prices, he braced investors to expect an otherwise lean 2025. Yes, the diamond market has been disappointing of late, he acknowledged, but he is "optimistic that the price environment will recover during 2025." Not so optimistically, he then added that 2025 will be "a period of planned production similar to 2024." And so, Mr. Wall and his crew are formally conceding that 2025 will be the second consecutive year with diamond production less than five million carats at its 49-per-cent-owned Gahcho Kue mine in the Northwest Territories.

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