Burgundy Diamond Mines reports first quarter 2025 results
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.
Fourth 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.
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.
Investor enquiriesinvestor@burgundydiamonds.com
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About Burgundy Diamond Mines Limited
Burgundy Diamond Mines is a premier independent global scale diamond company focused on capturing the end-to-end value of its unique vertically integrated business model.
Burgundy's innovative strategy is focused on capturing margins along the full value chain of the diamond industry, including mining, production, cutting and polishing, and the sale of diamonds. By building a balanced portfolio of diamond projects in favourable jurisdictions, including the globally ranked Canadian mining asset, Ekati, and a diamond cutting and polishing facility in Perth, Burgundy has unlocked access to the full diamond value chain. This end-to-end business model with total chain of custody provides traceability along every step of the process, with Burgundy able to safeguard the ethical production of the diamonds from mining to marketing and discovery to design. Burgundy was founded in Perth, Western Australia. The company is led by a world-class management team and Board.
Caution regarding Forward Looking Information
This document contains forward looking statements concerning Burgundy Diamond Mines Limited. Forward looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements in this document are based on Burgundy's beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions or estimates should change or to reflect other future developments.
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Ms Tracey is a Member of the Australian Institute of Geoscientists and is a full-time employee of Snowden Optiro (Optiro Pty Ltd) and has acted as an independent consultant. Mrs Christine Standing and Ms Justine Tracey have sufficient experience with the style of mineralisation, deposit type under consideration and to the activities undertaken to qualify as Competent Persons as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). Mrs Standing and Ms Tracey consent to the inclusion in this announcement of the contained technical information relating the Mineral Resource estimations in the form and context in which it appears. About Barton Gold Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000ozpa with 2.1Moz Au & 3.1Moz Ag JORC Mineral Resources (78.9Mt @ 0.85 g/t Au), brownfield mines, and 100% ownership of the region's only gold mill in the renowned Gawler Craton of South Australia. Competent Persons Statement & Previously Reported Information The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). 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Cautionary Statement Regarding Forward-Looking Information This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'expect', 'target' and 'intend' and statements than an event or result 'may', 'will', 'should', 'would', 'could', or 'might' occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. 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Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. * Refer to Barton Prospectus dated 14 May 2021 and ASX announcement dated 25 July 2025. Total Barton JORC (2012) Mineral Resources include 1,049koz Au (39.7Mt @ 0.82 g/t Au) in Indicated category and 1,095koz Au (39.2Mt @ 0.87 g/t Au) in Inferred category, and 3,070koz Ag (34.5Mt @ 2.80 g/t Ag) in Inferred category as a subset of Tunkillia gold JORC (2012) Mineral Resources. Cautionary Statement RegardingWudinna Gold Project MRE The resource estimates contained herein were prepared in accordance with the JORC (2012) Code by the Competent Persons for Cobra Resource PLC in 2023. The information has not materially changed since it was last reported. 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