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Burgundy sold $93m of diamonds in its fourth quarter sales cycles

17th December 2024

By: Creamer Media Reporter

     

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ASX-listed Burgundy Diamond Mines, which operates the Ekati mine in Canada, generated revenue of $93-million from two sales cycles in the fourth quarter.

Its October sales cycle generated $47-million in proceeds from the sale of 583 000 ct at an average price of $80/ct. The December sales cycle resulted in the sale of 425 000 ct at an average price of $106/ct for revenue of $46-million.

“Ekati’s ethically produced G7 product sold well this quarter, achieving $106/ct in the latest sale. While this number reflects a higher-quality parcel of goods sold, the company saw gains in the mid- to large-size categories relative to the October sale. This bodes well for a recovering diamond market," says Burgundy CEO Kim Truter.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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