Burgundy Diamond Mines ends September with A$596,000 in cash
Its quarterly cash-flow report shows A$11.67 million at the start of the quarter and, asked to estimate its funding, says none is available. Burgundy says the Ekati receiver reports that mining has ceased.
By Carat Capital
What changed
Cash fell to A$596,000. Burgundy Diamond Mines held A$596,000 at 30 September, against A$11.67 million at the start of the quarter, its ASX cash-flow report shows.
What it means
- If you buy Ekati goods: Burgundy says the receiver reports that all mining at Ekati has ceased.
- If you hold BDM shares: The report lists no unused finance facilities. Asked to estimate its quarters of funding, it says no funding is available.
- What this is not: News of the closure. The receivership began on 14 July.
Key figures
| Cash, 30 Septemberfrom A$11.67m at the quarter's start | A$596,000 |
|---|---|
| Net operating cash flowquarter to 30 September | −A$4.03m |
| Receipts from customersquarter; A$42.2m in nine months | A$8.25m |
| Unused finance facilitiesNoneat quarter end, item 7.5 | |
Source: Burgundy Diamond Mines, Appendix 5B quarterly cash-flow report and quarterly activities report for the quarter to 30 September 2026, filed to ASX 3 November 2026.
Net cash left in the quarter.
Net outflow of A$4.03m. Net operating cash outflow was A$4.03 million in the quarter, after A$8.25 million of receipts from customers.
Net investing outflow larger. Net investing outflows were A$9.29 million, and net financing brought in A$2.50 million, the report shows.
| Line, A$ thousand | Quarter | Nine months |
|---|---|---|
| Cash at start of period | 11,668 | 39,832 |
| Net cash, operating activities | (4,034) | (142,508) |
| Net cash, investing activities | (9,287) | (22,097) |
| Net cash, financing activities | 2,496 | 126,897 |
| Exchange-rate effect | (247) | (1,528) |
| Cash at end of period | 596 | 596 |
As filed. The report's reconciliation gives the previous quarter's closing cash as 11,670, against 11,668 as this quarter's opening line.
No funding offer came forward.
The sale process ended. No letter of intent or proposed transaction able to fund continued operations came from the sale process, Burgundy says.
The receiver took control. PricewaterhouseCoopers, as receiver, took control of Ekati on behalf of the Northwest Territories government. Burgundy says the receiver reports planning for reclamation is under way.
The board weighs its options.
Naujaat subsidiary too. The subsidiary holding Burgundy's 40% of the Naujaat project was also placed into receivership on 14 July.
Possibilities under review. The board continues to assess all possibilities for the company, the report says. It names none.
What to watch
- Expected around 30 November 2026The further update ASX directed on Burgundy's related-party breach. The test: whether it says anything on funding.
- Quarter to 31 December 2026, report early 2027The next cash-flow report. The test: whether cash stays above zero without a facility.
The story so far
Go deeper
What would change this call
A transaction or new facility in the December quarter would change the funding answer. Without one, the report names no source of cash.
How an Appendix 5B is built
ASX's Appendix 5B is a quarterly cash-flow report for mining and exploration companies. Section 8 divides available funding by outgoings to estimate quarters of funding; Burgundy answers that no funding is available.
Method
Burgundy Diamond Mines Limited, two ASX documents dated 3 November 2026, fetched from ASX's announcement file service on 7 November (437,648 and 828,911 bytes). The cash-flow figures were read on rendered images of the Appendix 5B's pages 1, 3 and 5. Section 4, current quarter, A$ thousand: 11,668; (4,034); (9,287); 2,496; (247); 596. Nine months: 39,832; (142,508); (22,097); 126,897; (1,528); 596. Item 1.1, receipts from customers: 8,251 and 42,203. Item 8.5, unused finance facilities: 0. Item 8.7: 'No funding available'. Item 8.1 uses the nine-month operating figure, (142,508). Activities report: 'No letter of intent or proposed transaction capable of providing the funding required to continue operations was received as a result of the SISP'; 'The receiver has reported publicly that all mining operations at the Ekati Diamond Mine have subsequently ceased, and planning and preparatory work for reclamation activities is underway'; 'the Board continues to assess all possibilities for the Company'. Cross-foot, ours: 11,668 - 4,034 - 9,287 + 2,496 - 247 = 596; nine months 39,832 - 142,508 - 22,097 + 126,897 - 1,528 = 596. The report does not say what the investing outflow was for in the quarter; this page does not either.