My interest is in Gibb River (GIB) which holds a modest swag of BDM and will own some more, along with cash, if BDM comes through to exercise the final tranche of its option to acquire Gibb’s Ellendale coloured diamonds tenement in March 2023.
Burgundy has not begun mining at Ellendale to my knowledge but recently purchased some rough diamonds mined from the Ellendale field in the past. BDM has the facility to cut them. They’re trying to elevate the profile of these coloured diamonds and give them some bulls**t cache to the wealthy ponces of Europe. I just want them to close the deal with GIB.
BDM Not Held
GIB Held
Diamond explorer BDM launched a new ‘ultra-luxury’ diamond brand – Maison Mazerea – in Paris earlier this month marking the final key part of the company’s strategy to become a world-leading end-to-end fancy colour diamond business.
The vertically integrated model of mining and buying rough stones, conducting its own cutting, and polishing, then selling via Maison Mazerea, will allow Burgundy to capture the full margins from the diamond value chain and completely differentiates BDM’s value proposition.
In mid-2021, Burgundy acquired capability and facilities for the cutting and polishing of rough diamonds in Perth, Western Australia.
BDM says this capability will be used for cutting and polishing of Burgundy’s own production from future mining operations, as well as rough diamonds from third party producers
Stockhead article
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