Burgundy Diamond Mines reported a substantial surge in revenue from Ekati deposit's rough diamond production during the fourth quarter, with sales rising 37% year on year to $166 million by December 31. Despite a 2% drop in the average price to $93 per carat, sales volume increased by 41% to 1.8 million carats.
Burgundy CEO Kim Truter highlighted the strong customer demand during the quarter's four oversubscribed auctions, underscoring the company's robust position with a healthy cash balance for upcoming activities at Ekati, including mine life extension efforts.
The Ekati mine was acquired by Burgundy from Arctic Canadian Diamond Company for $136 million in March.
