Image credit: Mountain Province
According to the company, diamond recoveries are expected to be 6.3 – 6.4 million carats, adjusted from previous guidance of 6.75 – 6.95 million carats; production costs - $CAD 50 – 55 per carat recovered - unchanged from previous guidance.
Stuart Brown, the Company's President and Chief Executive Officer, commented: "As previously noted, the unprecedented events of COVID-19 have had a major impact on our operations and sales. As a result of the all the interruptions and subsequent changes since the start of the pandemic, our total 2020 production forecast has been lowered by approximately 400K carats whilst maintaining or slightly lowering our cost guidance for full year 2020. The new forecast is the result of a tremendous amount of effort to maintain production at the mine… The demand for rough diamonds is starting to show signs of interest. We anticipate the diamond market will continue to open up over the coming months and we look forward to resuming normal sales later in the second half of the year".
Alex Shishlo, Editor of the Rough&Polished European Bureau
