Last checked at 1 Feb 2010 07:00
| Immediate Release | 1 February 2010 |
Petra Diamonds Limited
("Petra" or "the Company")
Appointment of RBC Capital Markets as Joint Broker
Petra Diamonds Limited announces the appointment of RBC Capital Markets as Joint Broker to the Company with immediate effect.
This appointment is a further step in the development of Petra's corporate strategy as the Company continues to widen and diversify its investor base globally.
Canaccord Adams Limited is Nominated Adviser and Joint Broker to Petra.
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For further information, please contact:
| Cathy Roberts | Telephone: +44 20 7318 0452 |
| Petra Diamonds, London | cathyr@petradiamonds.com |
| Bobby Morse / James Strong | Telephone: +44 20 7466 5000 |
| Buchanan Communications | bobbym@buchanan.uk.com jamess@buchanan.uk.com |
| Mike Jones / Ryan Gaffney | Telephone: +44 20 7050 6500 |
| Canaccord Adams Limited (NOMAD and Joint Broker) | mike.jones@canaccordadams.com ryan.gaffney@canaccordadams.com |
| Joshua Critchley / Martin Eales | Telephone: +44 20 7653 4000 |
| RBC Capital Markets (Joint Broker) | joshua.critchley@rbccm.com martin.eales@rbccm.com |
About Petra Diamonds
Petra Diamonds is a leading supplier of rough diamonds. A number of acquisitions have established Petra as one of the world's largest independent diamond groups by resources, with a gross resource base of 262 million carats. Petra increased its annual production fivefold in the year to June 2009 to over 1 million carats and the Company's objective is to continue to increase supply and develop its stature as a world-class diamond group.
In South Africa, Petra has interests in five producing mines - Cullinan, Koffiefontein, Helam, Sedibeng and Star - and has also agreed to acquire the Kimberley Underground mines from De Beers (this acquisition is expected to complete soon). In Tanzania, Petra has an interest in the Williamson mine.
These mines are noted for the production of valuable diamonds, but in particular the Cullinan mine is famed as the source of the largest rough gem diamond ever found. More recently, an internally flawless, fancy vivid blue diamond of 7.03 carats from the Cullinan mine sold for US$9.4 million, or US$1.35 million per carat, in May 2009 and a white diamond of over 507 carats was recovered in September 2009. A 168 carat white diamond recovered in the same production series as the 507 carat diamond was sold on 26 November 2009 for US$6.28 million.
Petra conducts all its operations according to the highest ethical standards, and will only work in countries which are members of the Kimberley Process.
The Company is quoted on the AIM market of the London Stock Exchange (AIM: PDL).
www.petradiamonds.com