What is the status of any ongoing negotiations or contracts with off‑take partners, and could these affect future pricing or revenue streams?

Current off‑take situation:

Mountain Province Diamonds’ Q2‑2025 release confirms that the company’s primary off‑take partner, De Beers Group, remains the sole purchaser of the Gahcho Kué diamond output under a long‑term sales agreement that runs through 2027. The press‑release notes that the contract is being renegotiated on pricing and volume floors as the mine moves from its initial “high‑grade” phase into a broader production mix. No new off‑take partners were announced, and the company explicitly states that no additional sales agreements are in place beyond the existing De Beers deal.

Implications for pricing and revenue:

Because the bulk of the mine’s cash flow still hinges on the De Beers contract, any pricing adjustments emerging from the renegotiations could materially swing future revenue. If Mountain Province secures a higher per‑carat price or a more favorable volume‑floor, the upside to cash‑flow and earnings would be immediate, likely tightening the supply‑side premium and supporting the stock price. Conversely, a re‑pricing that lowers the per‑carat rate or introduces a more aggressive volume‑floor could compress margins, especially as the mine’s grade profile is expected to soften in later‑stage production. Until the new terms are disclosed, the market should price in a modest upside‑bias but retain a “wait‑and‑see” stance on the pricing component.

Trading take‑away:

Maintain a neutral‑to‑slightly‑bullish position on MPVD while the renegotiation window remains open (the next 4‑6 weeks). A positive pricing revision would likely trigger a breakout above the current ~C$0.85 / C$0.90 range, while a downward‑price adjustment could push the stock back toward the lower trend‑line support around C$0.78. Watch for any corporate updates or conference‑call remarks on the De Beers terms; those will be the catalyst that determines whether the upside potential materialises or the revenue outlook is re‑scaled.