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Revealed Jul 25, 2024 • 3 minute learn
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CALGARY, Alberta, July 25, 2024 (GLOBE NEWSWIRE) — Burgundy Diamond Mines (ASX:BDM) (Burgundy or the corporate) supplied its monetary and working outcomes for the second quarter (Q2-2024) ended June 30, 2024, to the Australian Inventory Alternate on July 26, 2024.
Burgundy Diamond Mines achieved important progress in a number of key areas this quarter. The corporate’s dedication to potential mine life extensions is demonstrated by energetic drilling packages on the Sable and Distress mines, in addition to advancing the Sable and Fox underground up to date prefeasibility research. Moreover, the corporate elevated ore mined for the quarter in comparison with Q2-2023 and maintained aggressive sale costs in a subdued diamond market. The longer term Level Lake open pit operation is nearing completion, with the ultimate dewatering part underway and all needed permits secured.
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Second quarter highlights (three months ended June 30, 2024)1
All foreign money until in any other case famous, is introduced in US {dollars}.
- EBITDA: $26 million (unaudited)
- Tonnes processed: 1.01 million tonnes, decreased by 9% (Q2-2023: 1.11 million tonnes)
- Carats recovered: 1.22 million, decreased by 10%, in step with the lower in tonnes processed (Q2-2023: 1.36 million)
- Carats bought: 1.03 million over three gross sales occasions, together with one fancy sale
- US$103/ct achieved for complete proceeds of US$106 million
- Progress made on all mine extension tasks in the direction of launch of recent mine plan
“We had one other busy quarter throughout the enterprise. At Ekati, we efficiently accomplished our main annual plant shutdown, involving over 200 individuals and 6,500 hours of upkeep in lower than per week, and put in two new X-ray sorting machines. Our future Level Lake open pit operation is nearing manufacturing, with all needed permits acquired. Regardless of suppressed diamond market costs, we stay optimistic as supply-demand tightens and sit up for launching Ekati’s tenth mine – a landmark achievement,” stated Kim Truter, Burgundy Diamond Mines Chief Govt Officer and Managing Director.
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To view the complete ASX quarterly actions report for Q2-2024 ending June 30, 2024, please go to: burgundydiamonds.com/financial-reports/.
Investor enquiries
investor@burgundydiamonds.com
Media enquiries
communications@burgundydiamonds.com
About Burgundy Diamond Mines Restricted
Burgundy Diamond Mines is a premier unbiased international scale diamond firm targeted on capturing the end-to-end worth of its distinctive vertically built-in enterprise mannequin.
Burgundy’s progressive technique is concentrated on capturing margins alongside the complete worth chain of the diamond trade, together with mining, manufacturing, chopping and sharpening, and the sale of diamonds. By constructing a balanced portfolio of diamond tasks in beneficial jurisdictions, together with the globally ranked Canadian mining asset, Ekati, and a diamond chopping and sharpening facility in Perth, Burgundy has unlocked entry to the complete diamond worth chain. This end-to-end enterprise mannequin with complete chain of custody offers traceability alongside each step of the method, with Burgundy in a position to safeguard the moral manufacturing of the diamonds from mining to advertising and marketing and discovery to design. Burgundy was based in Perth, Western Australia. The corporate is led by a world-class administration workforce and Board.
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Warning concerning Ahead Trying Info
This doc comprises ahead trying statements regarding Burgundy Diamond Mines Restricted. Ahead trying statements will not be statements of historic truth and precise occasions and outcomes could differ materially from these described within the forward-looking statements on account of quite a lot of dangers, uncertainties and different components. Ahead trying statements on this doc are primarily based on Burgundy’s beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to replace ahead trying statements if these beliefs, opinions or estimates ought to change or to mirror different future developments.
- All figures introduced on this launch are in US {dollars} and embrace efficiency outcomes and metrics throughout all of Burgundy’s operations, together with Ekati Diamond Mine, the corporate’s tough diamond gross sales workplace in Antwerp, Belgium and diamond chopping and sharpening facility in Perth.
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