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Burgundy Diamond Mines Ltd ( (AU:BDM) ) has issued an update.
Burgundy Diamond Mines Limited has announced an operational update in response to challenging market conditions in the rough diamond market. The company is prioritizing higher margin ore processing at Ekati while temporarily suspending open pit mining at Point Lake due to sub-economic conditions, resulting in layoffs. Despite this, operations at the Misery underground site continue unaffected with improved production rates. Burgundy is also nearing the completion of its first mine plan and a pre-feasibility study for the Fox underground project, indicating a strategic focus on long-term projects.
The most recent analyst rating on (AU:BDM) stock is a Buy with a A$0.10 price target. To see the full list of analyst forecasts on Burgundy Diamond Mines Ltd stock, see the AU:BDM Stock Forecast page.
More about Burgundy Diamond Mines Ltd
Burgundy Diamond Mines is a premier, independent, global-scale diamond company focused on capturing margins across the entire value chain from mining and production to the sale of diamonds. The company operates a unique mine-to-market business model ensuring ethical production and traceability of diamonds. Founded in Perth, Western Australia, Burgundy is led by a world-class management team and Board, committed to sustainable and responsible diamond operations.
Average Trading Volume: 1,025,343
Technical Sentiment Signal: Sell
Current Market Cap: A$55.43M
For detailed information about BDM stock, go to TipRanks’ Stock Analysis page.