Jessica Amir wrote a post · Feb 13, 2024 16:13

The biggest pure ASX diamond play Burgundy Diamond Mines and why it's worth watching

The biggest pure #ASX diamond play is Burgundy Diamond Mines $Burgundy Diamond Mines Ltd (BDM.AU)$ .

- It minded 1.2 million carats in Q4. Rev' rose 40% to $166m. It made EBITDA of $60m

- What I like about $Burgundy Diamond Mines Ltd (BDM.AU)$? Its CEO Kim Truter worked as CEO of De Beers in Canada and was COO of $Rio Tinto Ltd (RIO.AU)$ Diamonds. So management has skin in the game.

I also like that BDM mined 1.2 m carats Vs Rio mining 3.3 m carats in 2023.

I will be interested to see if BDM can make a full year of earnings and clear profit. Then I think the investment world will sit up.

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Moomoo Official Market Strategist

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