Burgundy Diamond Mines (BDM) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 saw a significant reduction in mining and processing activities due to the suspension of operations at Point Lake, driven by challenging diamond market conditions and tariffs between the USA and India.

• Operations at Misery Underground remained healthy, with continued mining and resource model updates extending the mine plan by 2.5 years to the end of 2027.

• The Fox Underground Project's updated pre-feasibility study confirmed robust economics and a 14-year mine life.

Financial highlights

• Cash balance at 30 September 2025 was US$4.2M, down from US$7.2M at 30 June 2025.

• Diamond inventories decreased to 0.4M carats from 0.5M carats in the previous quarter.

• Consolidated net debt stood at US$82.0M, with net debt including diamond inventories at US$64.9M.

Outlook and guidance

• The company is optimizing its cost structure in response to the reduced mining footprint.

• Fox Underground Project is expected to support operations for 14 years, with strong NPV and IRR metrics.