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Burgundy Diamond Mines Ltd ( (AU:BDM) ) has issued an update.
Burgundy Diamond Mines has secured a fully secured term loan facility of up to C$115 million from Canada’s Large Enterprise Tariff Loan program for its Arctic Canadian Diamond Company subsidiary, aimed at supporting Ekati’s operations amid rough market conditions driven in part by a 50% US tariff on diamond imports from India. The financing, senior to all other company debt and carrying a maximum seven-year term, will fund underground development, the restart of the Sable open pit, completion of the Fox wash plant and working capital, while also triggering a major balance sheet restructuring that subordinates and extends existing senior debt. As part of the package, Burgundy will issue more than 1.1 billion unlisted warrants to the federal funding vehicle CEEFC, and grant it certain investor rights, including a non-voting board observer, underscoring the Canadian government’s support for the northern diamond sector and the strategic importance of Ekati to regional Indigenous and territorial stakeholders.
The most recent analyst rating on (AU:BDM) stock is a Sell with a A$0.02 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 Limited is an Australian-listed diamond miner with operations in Canada’s Northwest Territories, primarily focused on the Ekati Diamond Mine complex. Through its wholly owned subsidiary Arctic Canadian Diamond Company, the group produces rough diamonds and is working to transition Ekati toward higher-value deposits and underground operations, positioning itself within the global rough diamond supply chain amid volatile market conditions.
Average Trading Volume: 2,575,453
Technical Sentiment Signal: Sell
Current Market Cap: A$24.16M
For an in-depth examination of BDM stock, go to TipRanks’ Overview page.