GJ Town India

Focussing debt repayment of Convertible Notes in Q3 During the 3Q- third quarter, Burgundy focused on debt repayment of its Convertible Notes (totalling $23.6 million), mine extension activities at Misery underground mine, and completed 40% of its Sable underground prefeasibility study, upon which the decision was made to reschedule the project start date, due to positive Misery mine extension results.  Additionally, operations have started the transition from the Sable mine to the Point Lake open mine pit, which is being prepared for ore production in Q1-2025.  A special milestone for Ekati this quarter, was the recovery of the operation’s 100 millionth carat after twenty-six years of production, which is a significant achievement. The third quarter operational highlights said that 1.24 million carats of rough diamonds recovered; which is decreased by 9% over the Q3-2023 of 1.37 million carats of rough diamonds. Overall 1.42 million carats are sold over three sales events, which is up

Consolidated average realised price increased by 4% ytd   Operational Performance: Rough diamond production decreased by 25% to 5.6 million carats, reflecting a production response to the prolonged period of lower demand, higher than normal levels of inventory in the midstream and a continued focus on managing working capital.   In Botswana, production decreased by 32% to 4.0 million carats, as actions to lower production at Jwaneng were delivered. Production in Namibia decreased by 14% to 0.5 million carats, reflecting intentional action to lower production at Debmarine Namibia, partially offset by planned higher grade mining and better recoveries at Namdeb.   In South Africa, production increased by 41% to 0.5 million carats, as Venetia underground ramps up.  Production in Canada decreased by 11% to 0.6 million carats due to the planned treatment of lower grade ore. Trading Performance: Trading conditions during the quarter continued to be challenging in light of higher than normal m