https://www.miningweekly.com
Diamonds
Diamonds
diamonds

Burgundy shares rise as revenues soar

13th September 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The share price of diamond miner Burgundy Diamonds jumped more than 16% on Wednesday after the company flagged higher revenue for the third quarter to date, following the acquisition of the Ekati diamond mine, in Canada, in July this year.

Burgundy told shareholders that the company had secured diamond sales of around $90-million for the third quarter to date, compared with the $81-million in sales made in the third quarter of 2022.

Currently, the miner has sold 784 000 ct in the third quarter to date, compared with the 901 000 ct sold in the third quarter of last year.

“Ekati Canadian natural diamonds provide customers with sustainably produced high-value diamonds with low fluorescence, optimal assortment, and unique fancy colours. The sales results announced today demonstrate the differentiated value of Burgundy diamonds and our transparent and credible sales channels, despite a softer than usual market,” said Burgundy CEO Kim Truter.

The company maintains a rough diamond pipeline inventory of approximately $139-million as of the end of August, which is in addition to ongoing diamond production.

Burgundy was trading at a high of 18c a share on Wednesday.

Edited by Creamer Media Reporter

Comments

Projects

IMAGE OF GOLD BARS
Berg gold project, Canada
Updated 3 hours ago By: Sheila Barradas

Latest News

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
Updated 38 minutes ago

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
14th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.163 0.201s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: