Last checked at 18 Apr 2019 14:32
18 April 2019 | LSE: PDL |
Petra Diamonds Limited
("Petra," the "Company" or the "Group")
Notification of Recovery of 209.9 carat Type II white stone at Cullinan Diamond Mine
Petra Diamonds Limited is pleased to confirm that it has today recovered a 209.9 carat D colour Type II gem quality diamond at its Cullinan Diamond Mine.
This is the third +100ct Type II D colour gem quality diamond recovered since March 2019, and the fourth such stone in the current financial year.
Today's recovery again demonstrates the prevalence of these types of stones in the Cullinan orebody, with an improved incidence of large and high-value stones as the C-Cut Phase 1 block cave progresses across the footprint, and the ability of the mine's plant to recover the full spectrum of diamonds. The stone is expected to be sold during the fourth quarter ending 30 June 2019.
The Company has also confirmed today that 'The Legacy', the exceptional 425 carat D colour Type II A diamond recovered from the Cullinan mine on 29 March 2019, together with this stone, will be offered for sale during the course of the Company's next sales cycle in South Africa. Appointments to view these stones in Johannesburg can be made by contacting the Company's Head of Sales and Marketing, Greg Stephenson (greg.stephenson@petradiamonds.com).
Photos of the 209.9 carat stone can be found at www.petradiamonds.com/media/image-library/diamonds.
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Marianna Bowes investorrelations@petradiamonds.com
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse pdl@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa, which is currently under review.
Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 290 million carats, which supports the potential for long-life operations.
Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.