(Alliance News) - Shares in Petra Diamonds Ltd jumped Friday after it sold a 20 carat diamond from its South African mine for USD15 million.
Shares in Petra were 7.7% higher at 9.15 pence in London on Friday.
The 20.08 carat blue diamond was recovered from the Cullinan mine in September and was sold to an anonymous diamond company for USD14.9 million, equivalent to USD741,000 per carat.
"We are very pleased with this result which is in line with our expectations and confirms the resilience in the value of very high quality blue diamonds, undoubtedly one of nature's rarest treasures," Chief Executive Officer Richard Duffy said. "We look forward to following this exceptional stone's journey to its polished form."
For the year ended June, Petra generated revenue of USD463.6 million.
By Ahren Lester; ahrenlester@alliancenews.com
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Petra Diamonds (PDL)