Burgundy Diamond Mines announces 2023 year-end results

Burgundy Diamond Mines

PERTH, Western Australia and CALGARY, Alberta, March 27, 2024 (GLOBE NEWSWIRE) — Burgundy Diamond Mines Limited (ASX:BDM) provided the filing of its 2023 Annual Report, including the annual audited financial statements and explanation of results for the 6-month period ended December 31, 2023, to the Australian Stock Exchange on March 27, 2024.

Following the transformational purchase of 100% interest in Ekati Diamond Mine on July 1, 2023, Burgundy Diamond Mines is pleased with the performance over the last six-months with proceeds of US$258 million from the sale of 2.6 million carats and operational cash flow of US$68 million despite difficult diamond market conditions. “Ekati mine is the seventh largest diamond producer globally and has the third largest diamond endowment. This asset has excellent infrastructure, people, and numerous high-quality potential development options at very competitive capital cost. This is unique in the industry and speaks to the quality of this asset. This optionality forms the basis of the Ekati mine life extension efforts, with potential to build on the 25-years of successful production at Ekati and is the cornerstone of our Burgundy growth aspirations,” said Kim Truter, Burgundy Diamond Mines Chief Executive Officer and Managing Director. “The first six months of ownership of the Ekati mine has delivered on all aspects and we are extremely happy with the progress that has been made. I am pleased to see the entire Burgundy team integrate and engage as one unified organisation under one global brand. In 2024, we will build on our success as we strengthen the long-term production plan at Ekati, further enhance our sales efforts and continue to advance value accretive growth opportunities to cement our position as the leading end to end listed diamond company,” said Kim Truter, Burgundy Diamond Mines Chief Executive Officer and Managing Director. To view the full ASX 2023 Annual Report, please visit burgundydiamonds.com/financial-reports.

/Public Release.