Focus on Debt Repayment, Mine Extensions, and Positive Developments at Ekati

Burgundy Diamond Mines Limited (ASX: BDM) announced its financial and operational results for the third quarter of 2024, ending September 30, 2024, on October 28, 2024. The company’s key activities included efforts to repay $23.6 million in Convertible Notes and continued work on the Misery underground mine extension.

The company also completed 40% of its Sable underground prefeasibility study. Based on positive outcomes from the Misery mine extension, Burgundy decided to reschedule the start of the Sable project. Additionally, the company began transitioning from the Sable mine to the Point Lake open pit, which is slated for ore production in Q1-2025.

A significant milestone for Ekati was the recovery of its 100 millionth carat of diamonds this quarter, marking an important achievement after twenty-six years of production.