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may be about to breach 120p,the breakout of the old trading range has continued,superb.LP 118/120P 1 V 1 Buyers paying the full ask.
very peculiar trading patterns emerged this morning...has it run out of steam though...yet again.
Complete breakout of trading range.LP116/118p.I am expecting top results from the current drill campaign at Nkout which is in progress to Nov,then a re rating of resources...perhaps investors recently believe it also...superb rise.
Buyers coming in here at 112p this morning,retrace over?
LONDON, Sept 22 (Reuters) - Shares in Shanks Group gained sharply on Wednesday, with traders citing talk that Carlyle Group could be making a bid approach. Traders cited bid interest from private equity firm Carlyle Group at a price of 135-150 pence.
wow,nobody in here!
on open this jumped high,was asking 114p,then slipped back.There is a gap between 103p and now 109p which upon a dreaded retrace to fill,will be a top up opportunity,not a sell.On the other hand,could rise in anticipation of further info to come..hopefully the latter. Chrisc saw your earlier post regarding enhanced info on alternative site which I am aware of thanks.
this just cant seem to get going.Couple of times recently,16th and today attempted to move forward and failed,all the buys a.m. in vain.The chinese mou at 42p needs to be cast in stone I think.Strange individual single buy of £100k on 17 Sept worthy of a mention too,amongst a sea of miniscule trades.
been a couple of nice large buys in here this morning £77k,£82k.Touched 114p early on,so that has got to be breached again.The Nkout current drills finish in Nov then await official sample results which already they are expecting to be very good.
slipped back after the initial surge at open.LP 76.25 / 78p,peaked 80.75p momentarily.An hour or so,since the analysts meeting began,too early to tell,still go with my previous post,get broker upgrade after analysts been into figures.
Analyst presentation and webcast A presentation for analysts will be held at 9:30am BST on 20 September 2010 at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE. A live webcast of the analyst presentation will be available on Petra's website at www.petradiamonds.com. Still think that after the analysts disect the figures over the 24 hrs,then expect some broker upgrading and 85p achievable....imho
Rising well.LP79/81P level2 good in favour of buyers.Talking about the doubling to tripling of production here soon. bobo...didnt go into sey,think I asked a question thats all.
Petra Diamonds made a record profit after tax of $70m in the year to end-June, on revenue of $163.7m, up from $69.3m the prior year. Profit from mining activity was $67.2m (2009: $7.8m). Operating cashflow was $48.8m (2009: $4.6m). Group EBITDA was $70.9m (2009: $8.6m loss) and profit after tax was $70.2m (2009: $89m loss). EPS was 22.65 cents per share (2009: 49.38 cents per share loss). Cash at bank at period end was $34.5m (2009: $11.1m). Gross production was up 6% to 1,164,856 carats (2009: 1,099,367). The 507 carat Cullinan Heritage diamond sold for $35.3m during the year. Petra said expansion plans on target to more than double production by 2014 and more than triple production by 2019. The group raised $120m in equity fund during the year and increased ownership in the Cullinan mine from 37% to 74%. Petra has agreed new debt facilities of $78m with IFC and Rand Merchant Bank. Substantially improved prices have been achieved for first two tenders in 2011 vs 2010 averages - in line with expectations. Johan Dippenaar, CEO, said, "This has been an exceptional year for Petra, in which we have delivered the financial results of our superior growth profile, following the downturn experienced by all commodities groups in 2009. The outlook for the diamond market is positive, with a significant supply gap anticipated in the coming years as demand continues apace in emerging markets. Petra's strategy is to continue to steadily increase rough diamond production and develop our stature as an important supplier to the world market." Story provided by StockMarketWire.com
http://www.investegate.co.uk/Article.aspx?id=201009200700079318S
Results next week must be decent on the performance here this week.The placing at 60p seems very cheap now.Another extract from the recent rns... This has been a highly progressive year for the Company, during which Petra has: increased its ownership of the Cullinan mine to 74%, thereby doubling Cullinan's attributable production and increasing Petra's attributable resource base from all operations to 195 million carats (gross: 262 million carats); completed the acquisition of a further important producing diamond mine - Kimberley Underground; sold the remarkable 507 carat Cullinan Heritage diamond for US$35.3 million; raised US$120 million in an equity financing; and agreed terms for debt facilities totalling US$78 million with IFC and Rand Merchant Bank ("RMB" ...so all set for take off then..LP73.75/75.25p
resistance broken at 72.6p.LP 72.25/74P buyers paying 73p
Petra is now fully financed to roll out its planned capital expansions to treble annual output to over three million carats, by increasing production from its world-class resource base. The Company looks forward to announcing its full financial results for the Period in September. The Petra operations are, on the back of the revenue growth in this trading update, expected to report strong earnings and operating cashflows
up over 4% today after the broker note LP 70/71.25p.Results next week
Canaccord re-iterated its "buy" recommendation and 125p target price for Petra Diamonds (PDL) ahead of the mining company's final results release next Monday. On an adjusted basis, the broker expects the group to report total income of 163.3 million dollars (105.4 million pounds), EBITDA of 60.3 million dollars (38.9 million pounds) and attributable net income of 36.5 million dollars (23.5 million pounds). The impact from higher cost assumptions and persistent rand strength points to near-term earnings that may be lower than previously anticipated. However, the large-scale, long-term growth nature of the assets, in conjunction with an equity price that has not responded to a 50% increase in rough diamond prices over the financial year, suggests to the broker that its investment case remains very much intact. Petra shares rose 2.75p to 67.75p.
passed the ceiling today.94.8p was resistance LP 95.5/97P 1 V 1.According to a recent rns,Q4 for the real results of the drilling programme at Nkout,having already taken grab samples of high quality previously....plenty more to come...see chrisc posts below.