CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) -- Burgundy Diamond Mines Limited (ASX:BDM) (Burgundy or the Company) provided the filing of its financial and operating results for the first quarter (Q1-2025) ended March 31, 2025, to the Australian Stock Exchange on April 30, 2025.
During the quarter, Ekati's operational team fully relocated surface mining equipment to Point Lake and transferred production personnel to the Misery camp.
"This co-location of Point Lake and Misery unlocks improved operational efficiencies, increases effective shift time, and enables a step change downward in mining costs," said Kim Truter, CEO of Burgundy Diamond Mines.
The transition to Point Lake saw some ore supply disruption due to wet and muddy mining conditions, which have been addressed by the end of the quarter. Misery production was also lower than planned due to cold winter conditions, which froze the ore blanket and inhibited free ore flow through the underground draw points. A targeted campaign to increase production ring drilling, blast the frozen ore, and expand underground haul capacity ensured that Misery production was back on track by the end of the quarter.
"We continue to place a strong focus on strengthening Burgundy's balance sheet, and I am pleased that we reached an agreement with Macquarie Bank during the quarter for an innovative fuel offtake contract that improves working capital and has potential for a multi-year agreement," said Truter.
First quarter operational and financial highlights: All currency unless otherwise noted, is presented in US dollars.
- Ore tonnes mined: 0.6 million tonnes, decreased by 57% from (Q1-2024: 1.4 million tonnes)
- Tonnes processed: 0.6 million tonnes, decreased by 46% from (Q1-2024: 1.0 million tonnes)
- Carats recovered: 0.8 million, decreased by 33% from (Q1-2024: 1.2 million)
- Carats recovered per tonne processed: 1.4 C/t, increased by 25% from (Q1-2024: 1.1 C/t)
- Carats sold: 1.2 million from three auctions and other sales events, down 11% from (Q1-2024: 1.3 million)
- $62/ct. achieved for total proceeds of $73 million (A$116 million)
- Adjusted EBITDA: $6.5 million; (A$10.3 million)
- Cash of $38.8 million; (A$61.7 million)
To view the full ASX Q1-2025 quarterly activities report, please visit burgundydiamonds.com/financial-reports.
Note: All figures presented in this release are in US dollars and include performance results and metrics across all of Burgundy's operations, including Ekati Diamond Mine, the company's rough diamond sales office in Antwerp, Belgium and diamond cutting and polishing facility in Perth.
