The Ekati mine site includes multiple kimberlite pipes some 300 km northeast of Yellowknife. (Credit: Arctic Canadian.)
Burgundy Diamond Mines (ASX: BDM), owner of the Ekati diamond mine in Canada’s Northwest Territories, halted trading of its shares on the Australian Securities Exchange on Wednesday, fuelling speculation about its next move.
The miner said the trading pause was due to an upcoming operational update, with shares set to resume trading in Sydney on Friday.
Adding to the uncertainty, some Ekati workers were reportedly instructed not to travel to the remote site this week, according to local media outlet Cabin Radio.
Burgundy acquired Ekati in March 2023 through its $136-million purchase of Arctic Canadian Diamond.
Since then, it has grappled with mounting financial pressure amid a downturn in the global diamond market. Earlier this year, Burgundy said it would focus on achieving…
