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- Burgundy Diamond Mines (BDM) recovers its first diamond from the Ellendale Diamond Project in Western Australia
- The first diamond from Ellendale was a 1.51-carat octahedral “Fancy Yellow” stone
- The company reiterates that it expects to commence the commercial production of diamonds from the mine in the fourth quarter of this year
- Meanwhile, exploration activities are set to continue onsite, including drilling programs intended to update resource models
- Burgundy Diamond Mines is up 2.7 per cent and trading at 19 cents at 3:37 pm AEST
Burgundy Diamond Mines (BDM) has recovered its first diamond at the Ellendale Diamond Project in Western Australia.
The first diamond from Ellendale was a 1.51-carat octahedral “fancy yellow” stone.
The news comes after the company rounded off its final stages of commissioning a bulk sample plant at the Blina site.
As such, the company has now started to ramp up throughput rates at the state-of-the-art plant on-site in the Kimberley.
Burgundy Managing Director Peter Ravenscroft said it was pleasing to see progress on its strategy of building the world’s leading end-to-end diamond company.
“The first diamond recovered at Blina is an example of the potential quality of product from the Blina alluvials and the wider Ellendale project, and we look forward to building towards commercial production of these exquisite Fancy Yellow diamonds,” Mr Ravenscroft said.
“This is especially timely as we finalise arrangements for the upcoming Australian launch of our ultra-luxury Maison Mazerea diamond brand later this month, which will be the vehicle to market and sell polished retail stones.”
The company reiterated its first commercial production of diamonds was expected in this year’s fourth quarter.
Meanwhile, BDM said exploration activities would continue onsite, including drilling programs intended to update resource models.
The company will also complete a scoping study to define development options for the Blina and Ellendale projects, which together comprise the Ellendale Diamond Project.
Burgundy Diamond Mines was up 2.7 per cent and trading at 19 cents at 3:37 pm AEST.
