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Petra Diamonds Ltd (PDL.L)

PDL.L on London Stock Exchange

38.30GBp
26 Sep 2018
Change (% chg)

-0.16 (-0.42%)
Prev Close
38.46
Open
38.18
Day's High
38.18
Day's Low
38.12
Volume
28,111
Avg. Vol
3,837,629
52-wk High
75.74
52-wk Low
32.56

Latest Key Developments (Source: Significant Developments)

Petra Diamonds On Track To Meet FY Production Forecast
Monday, 17 Sep 2018 02:00am EDT 

Sept 17 (Reuters) - Petra Diamonds Ltd ::FY REVENUE ROSE 25 PERCENT TO 495.3 MILLION USD.FY ADJUSTED EBITDA UP 37 PCT TO US$195.4 MILLION.TOTAL PRODUCTION OF 718,635 CARATS FOR JULY AND AUGUST.ON TRACK TO ACHIEVE PREVIOUSLY STATED GUIDANCE OF 3.8 - 4.0 MCTS FOR FY 2019.GRADES RECOVERED IN FY 2019 TO DATE ARE IN LINE WITH EXPECTATIONS.TOTAL FY 2019 ABSOLUTE ON-MINE CASH COSTS ARE EXPECTED TO REMAIN LARGELY FLAT COMPARED TO FY 2018 COSTS IN ZAR LOCAL CURRENCY.FY 2019 CAPEX (EXCLUDING CAPITALISED BORROWING COSTS) IS GUIDED AT CA. US$93 MILLION.NOTING TYPICAL SEASONAL WEAKNESS EXPERIENCED AT FIRST TENDER OF FY 2019, COMPANY EXPECTS PRICES TO BE BROADLY STABLE IN FY 2019..PETRA DIAMONDS-AS CO APPROACHES FINAL STAGE OF EXPANSION PLANS, SUCCESSOR FOR CEO WILL BE APPOINTED IN DUE COURSE.JOHAN DIPPENAAR WILL CONTINUE IN ROLE OF CEO UNTIL SUCCESSOR NAMED.  Full Article

Petra Diamonds Says CFO Jacques Breytenbach To As Finance Director
Monday, 19 Feb 2018 02:00am EST 

Feb 19 (Reuters) - Petra Diamonds Ltd ::H1 REVENUE 225.2 MILLION USD VERSUS 228.5 MILLION USD YEAR AGO.‍H1 ADJUSTED EBITDA US$80.1 MILLION​.‍HY NET DEBT OF US$644.7 MILLION​.H1 CAPEX DOWN 43% TO US$77.5 MILLION (H1 FY 2017: US$134.9 MILLION).CHIEF FINANCIAL OFFICER JACQUES BREYTENBACH TO JOIN BOARD AS FINANCE DIRECTOR, EFFECTIVE IMMEDIATELY.‍FY 2018 REVENUE EXPECTATIONS REMAIN IN LINE WITH CURRENT CONSENSUS​.‍DELIVERY OF PRODUCTION GUIDANCE OF 2.4 - 2.5 MCTS IN H2​.DIAMOND MARKETS STARTED TO STRENGTHEN BEFORE CALENDAR YEAR END FURTHER TO POSITIVE MOMENTUM AROUND FESTIVE SELLING SEASON.PETRA EXPECTS MARKET CONDITIONS TO REMAIN STABLE IN H2 FY 2018.H1 ‍PRODUCTION UP 10% TO 2,208,056 CARATS.H1 ‍BASIC LOSS PER SHARE $17.55 CENTS​.  Full Article

Petra Diamonds Says H1 Revenue Down 1 Pct To $225.2 Mln
Monday, 29 Jan 2018 02:14am EST 

Jan 29 (Reuters) - Petra Diamonds Ltd ::H1 REVENUE FELL PERCENT TO 225.2 MILLION USD.‍HY PRODUCTION UP 10% TO 2,208,056 CARATS​.‍FY 2018 REVENUE EXPECTED TO REMAIN IN LINE WITH CURRENT CONSENSUS​.‍FY 2018 PRODUCTION GUIDANCE IS REDUCED TO 4.6 - 4.7 MCTS​.‍FY 2018 EBITDA IS EXPECTED TO BE NEGATIVELY AFFECTED BY CA. 10-15% VERSUS CURRENT CONSENSUS​.‍NET DEBT FOR 30 JUNE 2018 IS EXPECTED TO FALL TO US$560 - 600 MILLION​.‍PETRA EXPECTS TO BE IN BREACH OF 31 DECEMBER 2017 EBITDA RELATED COVENANT MEASUREMENT RATIOS ASSOCIATED WITH ITS BANKING FACILITIES​.‍COMMENCED FORMAL DISCUSSIONS WITH ITS LENDER GROUP, EVALUATING BOTH DECEMBER 2017 AND JUNE 2018 MEASUREMENTS​.  Full Article

Petra Diamonds says Q1 revenue down 17 pct to $78.7 mln
Monday, 23 Oct 2017 02:00am EDT 

Oct 23 (Reuters) - Petra Diamonds Ltd ::Q1 REVENUE FELL 17 PERCENT TO 78.7 MILLION USD.‍DIAMOND PRICES FOR Q1 ON A LIKE-FOR-LIKE BASIS WERE DOWN CA. 3% IN COMPARISON TO H2 FY 2017​.PETRA DIAMONDS LTD - ‍Q1 PRODUCTION DOWN 4% TO 1,053,817 CARATS (Q1 FY 2017: 1,097,523 CARATS)​.PETRA DIAMONDS - ‍NET DEBT AT 30 SEPTEMBER 2017 OF US$613.8 MILLION (30 JUNE 2017: US$555.3 MILLION).PETRA DIAMONDS LTD - ‍Q1 ROM PRODUCTION INCREASED 17% TO 842,809 CARATS (Q1 FY 2017: 720,475 CARATS)​.PETRA DIAMONDS LTD - ‍Q1 REVENUE DOWN 17% TO US$78.7 MILLION FROM 711,277 CARATS SOLD (Q1 FY 2017: US$94.7 MILLION FROM 745,447 CARATS SOLD)​.PETRA DIAMONDS LTD - ‍DIAMOND PRICES FOR Q1 ON A LIKE-FOR-LIKE BASIS WERE DOWN CA. 3% IN COMPARISON TO H2 FY 2017​.‍GROUP MAINTAINS FULL YEAR PRODUCTION GUIDANCE OF CA. 4.8 TO 5.0 MCTS​.‍"DIAMOND MARKET IS SHOWING SIGNS OF SEASONAL WEAKNESS"​.PETRA DIAMONDS - CULLINAN PLANT NOW FULLY OPERATIONAL, PLANT IS EXPECTED TO ACHIEVE NAMEPLATE CAPACITY OF 6 MTPA DURING H2 FY 2018​.  Full Article

SA's National Union of Mineworkers signs three-year wage agreement with Petra Diamonds​
Monday, 2 Oct 2017 10:28am EDT 

Oct 2 (Reuters) - SA'S NATIONAL UNION OF MINEWORKERS: :‍NUM SIGNED A THREE-YEAR WAGE AGREEMENT WITH PETRA DIAMONDS​.‍HAS SIGNED A THREE-YEAR WAGE AGREEMENT WITH PETRA DIAMONDS LIMITED AT CULLINAN DIAMOND MINE​.‍WAGE AGREEMENT IS EFFECTIVE FROM 1 JULY 2017 AND SHALL REMAIN IN FORCE UNTIL 30 JUNE 2020​.‍PARTIES AGREED TO BASIC SALARIES WITH EFFECT FROM 1 JULY 2017 UNTIL 30 JUNE 2020 AS FOLLOWS​.‍THREE-YEAR WAGE AGREEMENT PROVIDES FOR ANNUAL INCREASES TO NUM MEMBERS IN REGION OF 9% TO 10% FOR YEAR ONE​.‍THREE-YEAR WAGE AGREEMENT PROVIDES FOR ANNUAL INCREASES TO NUM MEMBERS IN REGION OF AND 8 PERCENT FOR YEAR 2 AND 3.  Full Article

Petra gets government backing to resume exports from Tanzania mine
Wednesday, 27 Sep 2017 11:20am EDT 

Sept 27 (Reuters) - PETRA DIAMONDS LTD ::UPDATE ON OPERATIONS IN TANZANIA.‍RECEIVED AUTHORISATION FROM TANZANIA GOVERNMENT TO RESUME DIAMOND EXPORTS AND SALES FROM WILLIAMSON MINE IN TANZANIA​.RESOLUTION HAS NOT YET BEEN REACHED WITH REGARDS TO PARCEL OF 71,654.45 CARATS FROM WILLIAMSON THAT WAS BLOCKED FOR EXPORT.‍EXACT TIMING AND PROCESS FOR NEXT DIAMOND PARCEL EXPORT TO MARKETING OFFICE IN ANTWERP AND SALE WILL NOW BE FINALISED BETWEEN CO, GOVERNMENT​.  Full Article

Petra Diamonds ‍confirms it receives notice from NUM, underground mining affected
Thursday, 21 Sep 2017 10:40am EDT 

Sept 21 (Reuters) - Petra Diamonds Ltd :‍CONFIRMS RECEIVED NOTICE FROM NUM INDICATING INTENTION TO STRIKE AT KOFFIEFONTEIN MINE IN SOUTH AFRICA FROM SEPTEMBER 22.‍CULLINAN MINE HAS NOT BEEN IMPACTED BY LABOUR DISRUPTION AND PRODUCTION CONTINUES THERE AS NORMAL​.‍SITUATION REMAINS SAME THAT WHILE UNDERGROUND MINING AFFECTED, PLANT TREATMENT IS CONTINUING AT NEAR NORMAL CAPACITY AT BOTH OPERATIONS​.COMPANY REMAINS IN ONGOING DISCUSSIONS WITH NUM IN ORDER TO RESOLVE SITUATION.  Full Article

‍S.Africa's NUM to strike at Petra Diamonds' Koffiefontein Mine
Thursday, 21 Sep 2017 07:37am EDT 

Sept 21 (Reuters) - South Africa's National Union of Mineworkers::‍NATIONAL UNION OF MINEWORKERS (NUM) - SERVED PETRA DIAMONDS WITH A 48 HOURS NOTICE TO EMBARK ON A PROTECTED STRIKE AT KOFFIEFONTEIN MINE IN NORTHERN CAPE​.NATIONAL UNION OF MINEWORKERS​ - ‍STRIKE WILL BE IN FORM OF A TOTAL WITHDRAWAL OF LABOUR OF ALL NUM MEMBERS WORKING IN PETRA DIAMONDS AT KOFFIEFONTEIN MINE.NATIONAL UNION OF MINEWORKERS - ‍STRIKE TO START ON SEPT 24 AND WILL CONTINUE INDEFINITELY UNTIL NUM DEMANDS ARE MET​.S.AFRICA'S NUM - DEMANDS 10% WAGE INCREASE, HOUSING SUBSIDY AND LIVING OUT ALLOWANCE OF R1 500 TO BE PAID EVERY MONTH FOR THREE YEARS.NATIONAL UNION OF MIINEWORKERS - STRIKE WILL BE IN FORM OF A TOTAL WITHDRAWAL OF LABOUR OF ALL NUM MEMBERS WORKING IN PETRA DIAMONDS AT KOFFIEFONTEIN MINE.S.AFRICA'S NUM - "PENSION FUND MUST BE INCREASED FROM 7,5% TO 9% PER EMPLOYER'S CONTRIBUTION".  Full Article

Petra diamonds confirms labour disruption at Finsch mine and Kimberley Ekapa Mining JV operations
Tuesday, 19 Sep 2017 03:16am EDT 

Sept 19 (Reuters) - PETRA DIAMONDS LTD ::CONFIRMS THAT SINCE LAST NIGHT IS EXPERIENCING LABOUR DISRUPTION AT ITS FINSCH MINE AND THERE IS ALSO DISRUPTION UNDERWAY AT KIMBERLEY EKAPA MINING JV OPERATIONS.COMPANY IS CURRENTLY ASSESSING IMPACT ON BOTH OPERATIONS.PETRA DIAMONDS - ‍ALTHOUGH UNDERGROUND AND SURFACE MINING AFFECTED, PLANT TREATMENT CONTINUING AT NEAR NORMAL CAPACITY AT BOTH OPERATIONS.PLANT TREATMENT IS CONTINUING AT NEAR NORMAL CAPACITY AT BOTH OPERATIONS TREATING SURFACE MATERIAL AND AVAILABLE STOCKPILES.NORMAL OPERATIONS ARE CONTINUING AT CULLINAN AND KOFFIEFONTEIN.COMPANY IS IN ONGOING DISCUSSIONS WITH NATIONAL UNION OF MINEWORKERS IN ORDER TO RESOLVE SITUATION.  Full Article

Petra Diamonds announces amendment to covenant measurement
Friday, 8 Sep 2017 08:02am EDT 

Sept 8 (Reuters) - Petra Diamonds Ltd ::AMENDMENT TO COVENANT MEASUREMENT.PETRA DIAMONDS - ‍ITS LENDER GROUP HAS AGREED TO WAIVE MEASUREMENT OF TWO MAINTENANCE COVENANT TESTS RELATED TO CONSOLIDATED EBITDA FOR 12 MONTH PERIOD TO, AND AS AT, 30 JUNE 2017​.‍DISTRIBUTION COVENANTS RELATED TO PETRA'S BANKING FACILITIES ARE UNCHANGED​.  Full Article

UPDATE 2-Petra Diamonds' core profit climbs, CEO to step down

* Adjusted EBITDA jumps in FY 2017 (Adds details, updates with comment, updates shares)