Update from Sale of Special Stones

RNS Number : 4508V

Petra Diamonds Limited

13 December 2013

 

13 December 2013

LSE: PDL

 

Petra Diamonds Limited

("Petra" or the "Company" or the "Group")

Update from Sale of Special Stones

Further to Petra's IMS of 12 November 2013, when the Company reported that it had recovered two exceptional white stones of 126.4 carats and 91.5 carats, Petra announces that these stones were sold at Petra's December tender for US$8.52 million and US$3.78 million respectively. In addition to these two stones, Petra reports that it recorded solid prices at the December tender. 

The Company will be publishing its Trading Update for the six months ended 31 December 2013 ("H1 FY 2014") on 28 January 2014, which will provide detailed production and sales analysis.

Johan Dippenaar, Chief Executive Officer, commented:

"These solid prices achieved for the two special Cullinan stones as well as for the balance of Petra's recent tender are very encouraging and reaffirm Petra's view that firmer market conditions will continue into H2 FY 2014."

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For further information, please contact:

Petra Diamonds (Corporate Communications)	Telephone: [phone]
Cathy Malins	[e-mail]

Buchanan (PR Adviser)	Telephone: [phone]
Cornelia Browne Bobby Morse Louise Mason	[e-mail] [e-mail] [e-mail]

RBC Capital Markets (Joint Broker)	Telephone: [phone]
Matthew Coakes Jonathan Hardy	[e-mail] [e-mail]

Canaccord Genuity Limited (Joint Broker)	Telephone: [phone]
Ryan Gaffney	[e-mail]
Chris Fincken	[e-mail]

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in six producing mines: five in South Africa (Finsch, Cullinan, Koffiefontein, Kimberley Underground and Helam) and one in Tanzania (Williamson). It also maintains an exploration programme in Botswana.

Petra offers an exceptional growth profile, with a core objective to steadily increase annual production to 5 million carats by FY 2019. The Group has a major resource base in excess of 300 million carats.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a member of the FTSE 250.

For more information, visit the Company's website at www.petradiamonds.com.

 

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