Burgundy recovers 1.24mn cts of diamonds
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, wh...