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Burgundy Diamond Mines Ltd ( (AU:BDM) ) has shared an update.
Burgundy Diamond Mines reported a mixed performance for the quarter ending December 2024, with operational and financial results showing some challenges. The company saw a 2% decrease in recovered carats and a 6% shortfall in EBITDA compared to guidance, although revenue targets were met. The diamond price per carat dropped by approximately 10% year-on-year, and Q4 operations at the Ekati mine involved significant ore and waste mining activities. The company established an environmental trust contributing to tax benefits, and it is preparing to release a new mine plan in 2025, which could extend the mine’s life to the mid-2030s. This period was financially intensive due to logistical requirements, affecting cash positions.
More about Burgundy Diamond Mines Ltd
Burgundy Diamond Mines Limited is a company operating in the diamond mining industry, focusing on the extraction and sale of rough diamonds. They are involved in mining activities, particularly in the Canadian Arctic, leveraging significant infrastructure and mineral resources in key diamond fields.
YTD Price Performance: -21.35%
Average Trading Volume: 1,018,967
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$99.49M
See more insights into BDM stock on TipRanks’ Stock Analysis page.
