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An update from Burgundy Diamond Mines Ltd ( (AU:BDM) ) is now available.
Burgundy Diamond Mines Limited has announced a new diesel fuel offtake agreement with a subsidiary of Macquarie Bank Ltd, aimed at mitigating working capital challenges at its Ekati mine in the Arctic. The agreement allows Macquarie to supply and own the diesel used at Ekati, spreading fuel costs throughout the year and offering a $45 million cash inflow benefit for 2025, potentially setting the framework for a multi-year arrangement.
More about Burgundy Diamond Mines Ltd
Burgundy Diamond Mines Limited is an independent diamond company focused on a vertically integrated business model to capture the full value chain of the diamond industry. It operates in diamond mining, production, cutting, polishing, and sales, with key assets including the Ekati mine in Canada and a cutting facility in Perth, ensuring ethical production and traceability.
YTD Price Performance: -48.89%
Average Trading Volume: 1,918,235
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$65.38M
For an in-depth examination of BDM stock, go to TipRanks’ Stock Analysis page.
