Burgundy Diamond Mines unveils impressive sales figures

Burgundy Diamond Mines (ASX:BDM) has announced its fourth-quarter sales results for 2024. The company reported total proceeds of US$93 million from two sales events. The October sale achieved US$47 million, while the December provisional sale garnered US$46 million. This reflects a robust performance as the market shows signs of recovery.

Burgundy Diamond Mines looks ahead with strategic plans

Burgundy Diamond Mines (ASX:BDM) has reported a strong fourth-quarter performance with US$93 million in sales, reflecting market recovery. The company plans to focus on mine life extension at the Sable and Misery underground projects and will initiate an updated Fox underground prefeasibility study in Q1-2025. A renegotiated surety agreement and a new environmental trust aim to improve financial health and potentially eliminate tax payments for 2024. With a vertically integrated business model, Burgundy is well-positioned to capitalize on the low global rough diamond supply and maintain its ethical production practices.

CEO discusses successful sales and market recovery

The successful sale of the ethically produced G7 product achieved US$106 per carat,' highlighted the CEO, Kim Truter. 'We observed gains in mid to large size diamonds compared to the October sale, signaling a recovery in the diamond market.