During the upcoming quarter, Burgundy Diamonds operations will focus on the Point Lake open pit entering full ore production. A Bulk sample from Point Lake will occur to improve the understanding of the ore and its processing properties.
Preparation for a second Misery Southwest bulk sample will commence. The number of carats recovered from both bulk samples will provide significant grade and diamond quality information sufficient for Ore Reserve and Mineral Resource estimations.
The prefeasibility study for Sable underground will be progressed, and the prefeasibility study for Fox underground will be completed. The Company is on track to deliver its first Burgundy mine plan by the end of Q1-2025.
Three sales auction events will occur during the quarter and the Company’s annual 2024 audited report is scheduled for release in Q1-2025. To strengthen its balance sheet, the Company is considering non-dilutive working capital opportunities and expects to provide an update during Q1-2025.
With the ongoing work at the Point Lake open pit, the Company continues to work on operational guidance for CY-2025 and expects to provide this during Q1-2025. Burgundy will release the longer-term mine plan in the second half of the year. This plan could extend the life of mine to the mid-2030s.
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