Diamonds: Mountain Province announces results of fifth diamond sale

[caption id="attachment_1003718952" align="alignnone" width="401"] The Gahcho Kue diamond recovery plant. (Photo: Mountain Province Diamonds)[/caption] Mountain Province Diamonds Inc. today announces the results of its recently completed fifth diamond sale. The results of the fifth sale, with preceding sale results for comparative context, are summarized as follows: The results from the fifth sale are elevated in part from the inclusion of a selection of the fancies and specials won by the Company otherwise scheduled for inclusion in the sixth sale, which will occur in the second half of July.  Excluding these high value diamonds, the average value realized per carat was US$75.  This reflects the finer size and lower quality distribution of this particular sales offering, as the Company indicated in May would be the case in connection with its first quarter reporting. Nonetheless, this fifth sale represents the Company's strongest sale performance to date.  Very positive prices were realized on the fancies and specials, and prices realized on the remainder of the offering also exceeded expectations.  The financial result was matched by several strong performance measures, including the number of buyers attending, the number of attendees placing bids and the average number of bids per lot.  Said Reid Mackie, the Company's Vice President Diamond Marketing, "The June tender sale was our best attended to date and produced a record number of bids.  Repeat customers won 75% of lots, indicating that the rough market's understanding of our diamonds' performance at manufacturing is positive and well on track." Full details can be found at www.mountainprovince.com.