During the quarter, Mountain Province has carried out three pre-sales of diamonds mainly from the North-eastern part of the kimberlite 5034, the prices of which were lower than expected. Meanwhile, the company expects that this situation will improve as the normalization of market conditions and get more production from the Central share of kimberlite 5034.
Final sales figures will be published May 11, 2017, together with the results of the company for the first quarter.
President and CEO of Mountain Province, Patrick Evans (Patrick Evans) commented: "The sale of diamonds in the first quarter reflect the release of the new entrants to the market, as consumers become familiar with the selling price of the company's products Unexpected obstacles due to demonetization in India exacerbated the customary weakening of prices in the period. find their optimal value. it is important to note that we have seen a steady improvement in the results of our early sales, and we are very pleased that 72% of the winners in the March auctions were repeat buyers . We expect that by the middle of the year will complete the process of finding the best prices, and their values will reflect market conditions. "
During the first quarter of 2017 on the project Gacho Quay were collectively processed approximately 492,000 tonnes of ore and recovered about 867,000 carats, while the average content of the stones was approximately 1.76 carats per tonne of ore.
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