Lower qualities.. experiencing increasing price pressure"Lower qualities and smaller sizes experienced price pressure" - 8 TH Sale "In the lower qualities and smaller sizes, we saw average price declines" - 7 TH "..a slight softening in prices for smaller, lower priced diamonds." 6 TH ---------------------------------------------------------------------------------------------------
( No mention of weakness in lower qualities etc ) 5 TH
--------------------------------------------------------------------------------------------------- Oct. 18, 2018
In the lower qualities and smaller sizes, we saw average price declines in the mid single digits. We believe the price pressure is predominantly driven by the recent rapid weakening of the Indian Rupee against the US Dollar and to some extent the seasonal lower demand for rough diamonds ahead of the Diwali celebrations. Total proceeds from the sale were US$24.2 million (CDN$31.4 million) from 366,505 carats at an average realized value of US$66 per carat. Sept 6, 2018 Lower qualities and smaller sizes experienced price pressure but our +10.8 carat specials performed well and made a strong contribution to the higher total sale result." Total proceeds from the sale were US$26.9 million ( CDN$35.3 million ) from 411,317 carats at an average realized value of US$65 per carat
Aug 15 2018
Total proceeds came in as expected at US$22.2 million (CDN$28.9 million) from the sale of 334,751 carats at an average realized price of US$66 per carat.
The lower realised price per carat of US$66 per carat compared to the previous sale of US$85 a carat was driven by a much smaller offering of fancies and specials and a slight softening in prices for smaller, lower priced diamonds. Overall the impact of the small decline in average prices for run of mine goods was not material compared to those achieved in the previous sales and prices for better quality fancies and specials remain firm.
June 28 2018 Total proceeds from the sale were US$30.3 million (CDN$40.0 million), setting another new high for Mountain Province's tender results to date. This tender also delivered the sale of Mountain Province's highest value individual diamond, as well as the highest attributable value per tonne to date. "The positive results of our fifth sale were driven by strong demand in the rough diamond market", said Reid Mackie, the Company's Vice President Diamond Marketing. "This demand is supported by stable rough supply levels and continued positive retail news from the key diamond consumer markets. At our fifth tender, customer interest and bidding competition was particularly high for larger white gem lots. We saw prices for this product category again increase by low single digit percentages compared with the previous sale."
This interest in larger white gem was exemplified by the impressive sales result achieved for the 95 carat diamond acquired at the most recent joint venture production split. Said Mr. Mackie, "Customer competition for the 95 carat gem exceeded expectations, with the final result more than doubling the previous highest value achieved for a single diamond. To maintain confidentiality for the buyer, further specifics of this diamond's sale will not be released."
We set a new record for total proceeds realized byMountain Province in a tender, and the normalised value for this sale at US$86 a carat is one of the highest we have achieved to date. This tender also saw the successful sale of our highest value diamond to date, at a price we were very happy with."