Petra Diamonds Limited

Petra Diamonds Limited (LSE: PDL) is an FTSE All-Share listed diamond mining Company and a supplier of gem-quality rough diamonds to the international market. The Company's segments include Mining, Corporate, and Beneficiation. Its Mining segment is engaged in the extraction and sale of rough diamonds from mining operations in South Africa and Tanzania.

Q4 FY23 & FY23 Operating Update (Released on 18 July 2023)

• Production Update: The total diamond production decreased by 55% to 620,018 carats in Q4 FY23 versus Q3 FY23 on account of lower grades at Cullinan Mine and Finsch, with remediation steps now implemented at both mines.
• Financial Performance: The approx. Sales from rough diamonds for Q4 FY23 were USD 49.9 mn versus USD 179.9 mn in pcp and the overall FY23 sales stood at USD 328.4 mn against USD 584.1 mn in FY22
• Outlook: The management is striving to work on business improvement and further strengthening the cash flow generation on a sustainable basis by growing across various markets. Also, the company restated the guidance slightly lower for FY24 and FY25 on account of project rescheduling and deferred production from FY25 to FY26.

Share Price Chart

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Petra Diamonds Limited (LSE: PDL) was trading at the current market price of GBX 69.27 (as of 24 August 2023, 10:45 AM GMT +1)  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 24 August 2023. The reference data in this report has been partly sourced from REFINITIV.

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