Australia's Burgundy Diamond Mines climbs on potential business expansion

Burgundy Diamond Mines

29/06/2021 04:44

** Gold and base metals explorer's shares  BDM.AX  rise as
much as 11.1% to A$0.30, highest since June 11
    ** Company, formerly known as EHR Resources, says it has
advanced several recent arrangements to expand to downstream
operations in the fancy colour diamonds sector  urn:newsml:reuters.com:*:nASX1HH15J
    ** Company says plans for downstream operations include
proposed future production of fancy yellow diamonds from the
Ellendale project in Western Australia
    ** BDM says it has been formulating a wider downstream
strategy to include cutting, polishing, marketing and sales of
potential production from other projects in its international
portfolio
    ** Stock on track for second consecutive session of gains 
    ** Company's shares down more than half this year, as of
last close

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))