Petra Diamonds Ltd - Sales results for Tender 5 of FY 2022
3 May 2022LSE: PDL
Sales results for Tender 5 of FY 2022
FY 2022 FY 2022 FY 2022 FY 2022 Tender 5 FY 2022 Results Tender 5 Tender 4 Tender 3 Year to Date Diamonds sold (carats) 635,806 735,222 885,136 2,966,875 Sales (US$ million) 86.1 140.6 128.4 491.4
Like-for-like rough diamond prices decreased by 23.7% on Tender 4 (
The fifth tender cycle included one Exceptional Stone from the Cullinan mine, a 13.74ct blue stone. This was sold for
Mine by mine prices for Tender 4, H1 FY 2022 and Year-to-Date FY 2022 are set out in the table below:
Tender 5 Tender 4 H1 FY 2022 YTD Mine FY 2022 FY 2022 6 months to FY 2022 31-Dec-21 (US$/ct) (US$/ct) (US$/ct) (US$/ct) Cullinan1 111 180 192 172 Finsch 122 151 97 114 Koffiefontein 431 856 538 578 Williamson1 341 369 760 437
Note 1: Prices for both Cullinan and Williamson mines include proceeds from the sale of Exceptional Stones. At Cullinan the product mix was negatively impacted by fewer Type IIa (white) stones in this sales cycle over the preceding FY2022 tenders. We expect this to improve back towards the average in future tenders.
Petra intends to hold one further tender during FY 2022, in June.
“As anticipated, these prices were below the significant increase we saw in our March sales, reflecting the seasonally quieter period and the ongoing uncertainty around the impact of the conflict in
“We are pleased to have entered into a third partnership arrangement with
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Jill Sherratt email@example.com
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
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