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Williamson’s contribution to full year revenues in FY 2022 was 13%
From my notes, Cullinan alone accounts for 60% of revenue, while Finsch accounts for 30%, Koffiefontein accounts for 7% or so, so the issues at Williamson are not a total disaster, unless my info is out of date?
The BOD keeps the bad news coming !!
Petra Diamonds said on Thursday that production from the Williamson mine in Tanzania is expected to be suspended for up to three months following a wall breach and flooding at the tailings storage facility (TSF).
90s have arrived well done BOD 2p old is shameful
We having our pants pulled down
OMG Bod giving themselves huge pay rises while destroying and achieving zero shareholders value !!
Thus company is a disgrace and nothing has changed over the years and no lessons learnt.
This is going private shortly for no more than a quid
Hold your heads up in shame BOD.
Even the market thinks it's a disgrace.
Another possibility is further news on the breach of the tailings dam?
I'm guessing that the drop is something to do with the new executive awards? Perhaps not everybody thinks the awards shoudl be 300% of base salary?
So the major shareholders have agreed to butter up the Bod in saying yes to huge pay rises, before they try and take this private! Poor old pis don’t get a say as per usual
Terrible
Today TR-1 issued as per below link from PDL website (not showing on LSE like all other RNS in recent months):
http://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=3144&customerKey=PetraDiamonds&storyID=15598262
I thought we may of got over the 118 risitant, who knows where the floor or ceiling is in the middle of this financial storm, the markets have been getting hammerd across the board with recent events unfolding,
Why the big drop Friday??
I'm still trying to work out what will move this stock now !!
Petra has delivered on every level and beyond . So what news do we have coming up to push it upwards.
I personally i think nothing so now can only see a drift down back to the 80s.
Petra has layed out their plans till 2025 before any growth happens now.
I have decided Petra has no value now so happy to exit. Signing off from this forum as I can't comment on a stock I have no interest in.
Good luck everyone.
yeah, it's Movin' on Up :)
Reminds me of the song in the 80s the only way is up
Yesterday's call made a good impression. The leadership seems to take shareholder interest well into account and there seems to be a working plan to turn this company around. Keeping fingers crossed for good demand, stable and high prices. The rest seems under control.
Quick recovery from this morning's drop in share price . Onwards and upwards now .
Petra Diamonds Ltd - London-based diamond miner focused on South Africa and Tanzania - Produces and sells fewer diamonds in first quarter as net debt widens and revenue falls. In the first quarter that ended September 30, revenue falls 10% to USD102.9 million from USD114.9 million a year prior. Diamond sales decline by 10% to 520,011 carats from 578,186 a year ago, while diamond production falls 13% to 763,220 carats from 876,411. The firm notes that lost time injury frequency rate in the quarter improved by 48% to 0.16 compared to 0.31 a year ago.
Net debt grows by 91% to USD77.6 million at September 30 from USD40.6 million at June 30, as the company's tender cycle led to a rise in inventory.
Petra says that while its cost base benefits from a weaker South African rand, it still is impacted by inflation. It also is wary of the impact of sanctions on Russian producers and of Covid-related lockdowns in China, but it is confident in its ability to generate cash to fund capital expenditure.
Current stock price: 112.01 pence, down 2.6% on Tuesday
12-month change: up 32%
By Tom Budszus; tombudszus@alliancenews.com
Yeah, any little positive surprise now might turn this into plus territory and set it of on a further upward trajectory. The added debt reduction, future sales trends and possibility of dividend launch might be such positive catalysts. It will be interesting to listen into the call. That said, dampened demand, operational issues and lower prices are clear downward risks too. It feels like a coin-flip.
Probably end up at this rate !! Unbelievable really
I figured it out, thanks Neil
Thanks Neil, is there a direct link to the meeting?
Dividends are mentioned vaguely in the statement. I am interested in the realized prices for gems sold, as sales looks a bit lower than I expected. Hopefully prices stay high and stable
After a second reading of R.N.S. I gleaned a few positives.
Revenues did not include profit share arrangements.
Loan notes of $143.6m repurchased.
$14m less annual interest payments.
For those that have concerns.
Petra will present the results on the Investor Meet Company platform, predominantly aimed at retail investors. To join: https://www.investormeetcompany.com/petra-diamonds-limited/register-investor
Not much of a drop considering . Now the day traders are out of the way can get on with the rise back up to 120 +
Market doesn't like the the update !! 90s incoming now what a shambles .
Maybe time to move now ???