FOR IMMEDIATE RELEASE
15 December 2021 |
LSE: PDL |
Petra Diamonds
Limited
("Petra" or the "Company")
Sales Results for
Tender 3 of FY 2022
Petra Diamonds Limited has taken the decision to release sales
results post each of the individual tender cycles held by the
Company, as is common for other listed diamond producers.
Further to this, Petra announces the results of Tender 3 of FY
2022, at which 885,136 carats were sold for a total of US$128.3 million.
Tender 3 FY 2022 Results |
FY 2022
Tender 3 |
FY 2021
Tender 3 |
Diamonds sold (carats) |
885,136 |
752,920 |
Sales (US$ million) |
128.3 |
98.1 |
Highlights:
- Like-for-like rough diamond prices increased by ca. 16% on the
six months to June 2021.
- This tender cycle included a 295.8ct white stone from the
Cullinan mine, which sold for US$13.9
million to Stargems DMCC.
- The tender cycle also included the first parcel sold on behalf
of Williamson Diamonds Limited post the restart of
operations.
- A total of 26,611 carats were sold from the Williamson parcel,
including a 32.32 carat exceptional pink diamond which sold for
US$13.8 million to Diacore
International. The balance of goods from the Williamson parcel sold
for a total of US$6.4 million,
averaging US$241 per carat.
FY 2022 Tender Results
year-to-date:
|
FY 2022
Year to Date |
FY 2022
Tender 3 |
FY 2022
Tender 2 |
FY 2022
Tender 1 |
Diamonds sold (carats) |
1,595,847 |
885,136 |
132,525 |
578,186 |
Sales (US$ million) |
264.7 |
128.3 |
21.5 |
114.9 |
Richard Duffy, Chief Executive of
Petra, commented:
“These strong sales results are
further evidence of the robust health of the diamond pipeline. The
rough market is currently being driven by strong sales of polished
diamonds and increased demand from the manufacturing centres, which
in turn reflects positive end consumer markets, particularly in the
run-up to the festive selling season. Demand at our most recent
tender cycle appeared to span across the entire spectrum of rough
assortments and sizes, and reflects the real shortages of quality
goods further to the recent contraction of global rough
supply.”
More detailed mine by mine information will be included in the
Company’s H1 FY 2022 trading update to be released on 18 January 2022.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is being
released on behalf of Petra by the Company Secretary.
~ Ends ~
For further information, please
contact:
Petra Diamonds,
London
Telephone: +44 20 7494 8203
Cathy
Malins
investorrelations@petradiamonds.com
Des Kilalea
Julia Stone
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
a supplier of gem quality rough diamonds to the international
market. The Company’s portfolio incorporates interests in three
underground producing mines in South
Africa (Finsch, Cullinan and Koffiefontein) and one open pit
mine in Tanzania (Williamson).
Petra's strategy is to focus on value rather than volume
production by optimising recoveries from its high-quality asset
base in order to maximise their efficiency and profitability. The
Group has a significant resource base of ca. 230 million carats,
which supports the potential for long-life operations.
Petra strives to conduct all operations according to the highest
ethical standards and only operates in countries which are members
of the Kimberley Process. The Company aims to generate tangible
value for each of its stakeholders, thereby contributing to the
socio-economic development of its host countries and supporting
long-term sustainable operations to the benefit of its employees,
partners and communities.
Petra is quoted with a premium listing on the Main Market of the
London Stock Exchange under the ticker 'PDL'. The Company’s
US$336.7 million notes due in 2026
are listed (subject to temporary suspension) on the Irish Stock
Exchange and admitted to trading on the Global Exchange Market. For
more information, visit www.petradiamonds.com.