Burgundy Diamond Mines has dialled back its underwritten placement from $US150 million ($231 million) to $US126 million ($193 million), as current owners of its Canadian M&A target Ekati decide to retain a 19.9 per cent stake.
Michael O’Keefe, of Riversdale and Champion Iron fame, is back from roadshows for Burgundy Diamond Mines and ready to start collecting bids for the company’s $US150 million ($231 million) raising to help bankroll its acquisition of Canada’s Ekati diamond mine.