According to a recent update on its mine plan, Burgundy plans to begin underground development of the Fox pit—one of its two currently operational sites—by mid-2026. The first output from this section is projected for Q2 2029, with an estimated yield of 11.6 million carats by the time it ceases operations in 2040. The total projected revenue from this phase is approximately $3.64 billion.
The company has also extended underground activity at its Misery pit by an additional 2.5 years, with production now expected to continue through 2027. Burgundy is exploring options to further extend output beyond that point. While the revised plan reflects a drop of 900,000 carats in indicated resources—based on confirmed drill data—it also shows a 200,000-carat increase in inferred resources, believed to exist based on geological modelling. Over the rest of its lifespan, the Misery zone is expected to yield around 6.7 million carats.
Bulk sampling at the Point Lake area recovered 67,757 carats, with an average value of $52 per carat—a 27% drop from previous projections due to weaker ore quality and current market conditions. Given the lower-than-expected value, Burgundy has decided to postpone mining at this site until mid-2026.
