Mountain Province Diamonds Inc. announced its financial results for the second quarter and first half 2021 ended June 30, 2021.
In Q2 2021, 718,549 carats were sold at an average value of $90 per carat (US$73 per carat) for total proceeds of $64.7 million (US$52.6 million) in comparison to 602,773 carats sold at an average value of $90 per carat (US$71 per carat) for total proceeds of $54.2 million (US$42.7 million) in Q1 2021.
During H1 2021, 1,321,317 carats were sold at an average value of $90 per carat (US$72 per carat) for total proceeds of $119.0 million (US$95.3 million) in comparison to 1,416,677 carats sold at an average value of $70 per carat (US$52 per carat) for total proceeds of $99.5 million (US$74.2 million) in H1 2020.
Net income for half year 2021 at June 30, 2021 was $29.8 million or $0.14 earnings per share (2020: net loss $67.7 million or $0.32 loss per share).
The positive market environment which began at the start of the year continued through the second quarter. The global economy began to recover as many countries started to lift COVID-19 restrictions. This positive trend is expected to continue through the second half of 2021 as consumer confidence and spending levels continue to recover. Reinforcing this expectation is the fact that the US and China continue to promote consumer spending as part of their post-COVID-19 recovery plans, and major producers continue to adopt a price over volume approach to release of rough goods, supporting the industry's recovery, Mountain Province notes.
Alex Shishlo for Rough&Polished
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