Burgundy Diamond Mines (BDM) Q2 2026 TU earnings summary

Executive summary

• Operations continued at Misery Underground and Sable open pit, with preparations for Fox wash plant construction and Fox underground development.

• Arctic Canadian Diamond Company Ltd., a subsidiary, filed for insolvency protection under Canadian law during the quarter.

• Post quarter, a receiver was appointed over Arctic Canadian, transferring control of the Ekati site.

Financial highlights

• Cash balance decreased to $8.0M as of 30 June 2026, down from $26.6M at 31 December 2025.

• Consolidated net debt increased to $(152.8)M from $(135.8)M over the same period.

• Diamond inventories rose to 0.4M carats from 0.2M carats.

Segment performance

• Tonnes processed increased 35% sequentially from Q1 2026 to 0.35Mdmt.

• Carats recovered rose 18% sequentially to 0.45Mcts; carats sold surged 83% to 0.42Mcts.

• Diamond inventories fell 35% sequentially to 0.36Mcts.