Burgundy Diamond Mines provided its financial and operating results for the first quarter (Q1 2024) ended March 31, 2024. Burgundy maintained a robust EBITDA of $26 million, up 49% from Q1 2023 and recorded record revenues of $117 million.
“The opening quarter of 2024 represents our third period in charge after our Arctic Canadian Diamond Company acquisition in June last year, and we are pleased with the number of improvements made in less than eleven months of ownership,” said Kim Truter, Chief Executive Officer at Burgundy Diamond Mines.
“We remain focused on three key points, including meeting our mining targets, operational optimisation, and mine life extension; and I believe we have delivered on this already. As the diamond market strengthens, we are enviably positioned to benefit – this will mark an exciting time to be a Burgundy shareholder.”
First quarter highlights (three months ended March 31, 2024), 1: Revenues: $117 million, 2:1.15 million, Carats recovered show decreased 3% (Q1 2023: 1.18 million), including a 23.15-carat fancy intense yellow diamond, 3: Carats sold: 1.32 million, increased 65% (Q1 2023: 0.80 million) & 4: Tonnes processed: 1.02 million tonnes, increased 6% (Q1 2023: 0.96 million tonnes).
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