Burgundy Diamond sold, 1.03 million carats in 2Q, 2024


 Burgundy Diamond sold, 1.03 million carats in 2Q, 2024


Burgundy Diamond Mines achieved significant progress in several key areas this quarter. The company’s dedication to potential mine life extensions is demonstrated by active drilling programs at the Sable and Misery mines, as well as advancing the Sable and Fox underground updated prefeasibility studies.

Additionally, the company increased ore mined for the quarter compared to Q2-2023 and maintained competitive sale prices in a subdued diamond market. The future Point Lake open pit operation is nearing completion, with the final dewatering phase underway and all necessary permits secured.

For the 2Q, Burgundy Diamond said, they have recovered 1.22 million Carats that show, decreased by 10%, in line with the decrease in tonnes processed (Q2-2023: 1.36 million). On the other hand, Burgundy Diamond sold, 1.03 million carats over three sales events, including one fancy sale. US$103/ct achieved for total proceeds of US$106 million.

Progress made on all mine extension projects towards release of new mine plan, “We had another busy quarter across the business. At Ekati, we successfully completed our major annual plant shutdown, involving over 200 people and 6,500 hours of maintenance in less than a week, and installed two new X-ray sorting machines.

Our future Point Lake open pit operation is nearing production, with all necessary permits received. Despite suppressed diamond market prices, we remain optimistic as supply-demand tightens and look forward to launching Ekati’s tenth mine – a landmark achievement,” said Kim Truter, Burgundy Diamond Mines Chief Executive Officer and Managing Director.

 

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