TIDMPDL
RNS Number : 0443D
Petra Diamonds Limited
24 April 2017
24 April 2017 LSE: PDL
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Trading Update - Q3 FY 2017 Production and Sales Report
Petra Diamonds Limited announces the following trading update
(unaudited) for the period from 1 January 2017 to 31 March 2017
(the "Period", "Q3 FY 2017" or "Q3").
HIGHLIGHTS
-- Production during the Period was flat at 999,768 carats (Q3
FY 2016: 995,905 carats), but ROM production for Q3 increased 18%
to 760,916 carats (Q3 FY 2016: 646,850 carats) further to ROM grade
improvements as a result of the ongoing ramp-up of underground
expansion projects. Q3 tailings and open pit volumes were impacted
by unseasonably high rainfall in both South Africa and
Tanzania.
-- Production for nine months to 31 March 2017 up 15% to
3,014,856 carats (nine months to 31 March 2016: 2,625,308 carats).
The Group maintains full year production guidance of ca. 4.4
Mcts.
-- Revenue down 1% to US$119.1 million, with no revenue from
Exceptional Diamonds, (Q3 FY 2016: US$120.5 million, including
US$15.0 million from Exceptional Diamonds). Excluding Exceptional
Diamonds, revenue increased 13%.
-- Revenue for nine months to 31 March 2017 up 27% to US$347.6
million, including US$10.9 million from Exceptional Diamonds, (Q3
FY 2016: US$274.4 million, including US$25.0 million from
Exceptional Diamonds). Excluding Exceptional Diamonds, revenue
increased 35%.
-- Rough diamond prices up ca. 2% on a like-for-like basis in
comparison to the average for H1 FY 2017.
-- Underground expansion programmes remain in line with
expectations. Commissioning of the new Cullinan plant commenced
towards the end of Q3 FY 2017, with initial production expected
during May 2017 and full commissioning planned to be achieved by
the end of Q4 FY 2017.
-- Cash at bank at 31 March 2017 of US$66.2 million (31 March
2016: US$39.0 million), diamond inventories of US$49.3 million (31
March 2016: US$54.3 million) and diamond debtors of US$37.9 million
(31 March 2016: US$46.0 million).
-- Net debt at 31 March 2017 was US$508.4 million (31 March
2016: US$395.6 million); unrestricted cash and bank facilities of
US$60.0 million (31 March 2016: US$140.9 million).
-- Post Period end, the Company announced the issuance of US$650
million of 7.25% senior secured second lien notes due 2022 (the
"Notes Issue") and the redemption of the Group's US$300 million
8.25% senior secured second lien notes due 2020, issued in 2015
(the "Redemption"). Concurrent with the Notes Issue and the
Redemption, the Group's debt facilities were amended and
simplified, including through the repayment of all drawn bank debt
and a reduction in total facilities, thereby rationalising the
Company's capital structure.
Q3 FY 2017 Production and Sales - Summary
Unit Q3 Q3 Variance Nine months Nine months Variance
FY 2017 FY 2016 to 31 to 31
March March
2017 2016
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Production
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
ROM diamonds Carats 760,916 646,850 +18% 2,092,531 1,890,556 +11%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Tailings
& other
diamonds Carats 238,852 349,055 -32% 922,325 734,752 +26%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Total diamonds Carats 999,768 995,905 0% 3,014,856 2,625,308 +15%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Sales
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Diamonds
sold Carats 1,069,886 937,526 +14% 2,979,999 2,240,568 +33%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Gross revenue US$M 119.1 120.5 -1% 347.6 274.4 +27%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Johan Dippenaar, Chief Executive Officer, commented:
"Further progress has been made with our expansion programmes
during the Period, as evidenced by the higher ROM grades achieved
as a consequence of the increased contribution from undiluted
ore.
"The significant strengthening of the Company's balance sheet
following the recent debt restructuring, as well as the positive
signs we are seeing in the diamond market, position us well as we
continue to ramp up production from our capital programmes."
CONFERENCE CALL
Petra's Chief Executive Officer, Johan Dippenaar, and Chief
Financial Officer, Jacques Breytenbach will host a conference call
at 9.30am and 4:00pm BST today to discuss the Q3 FY 2017 Trading
Update with investors and analysts. Participants may join the calls
by dialling one of the following numbers shortly before the
call:
First Call - 9.30am BST
From the UK (toll free): 0808 237 0040
From South Africa (toll free): 0800 222 290
From the rest of the world: +44 203 428 1542
Participant passcode: 29125750#
A replay of the conference call will be available on the
following numbers from 12:00pm BST on 24 April 2017:
From UK (toll free): 0808 237 0026
From South Africa and the rest of the world: +44 203 426
2807
Playback passcode: 686058#
Second Call - 4.00pm BST / 11.00am Eastern Time
This will be a Q&A call only to cater for international
investors. Participants are therefore advised to listen to the
replay of the earlier conference call in advance, as the main
management commentary on the Trading Update and Guidance
announcements will not be repeated.
From the United States (toll free): 1866 928 7517
From the rest of the world: +44 203 428 1542
From the UK (toll free): 0808 237 0040
From South Africa (toll free): 0800 222 290
Participant passcode: 29125750#
COMMENTARY
Production
-- Q3 FY 2017 production remained flat at 999,768 carats (Q3 FY
2016: 995,905 carats) following an 18% increase in ROM carats
produced to 760,916 carats (Q3 FY 2016: 646,850 carats), offset by
the guided drop in Finsch tailings production and the restriction
of surface mining operations (tailings and Williamson's open pit
ROM) due to unseasonably high rainfall experienced during the
Period.
-- Finsch ROM production increased 23% to 468,429 carats (Q3 FY
2016: 381,266 carats) further to the increasing production from the
newly established Block 5 SLC resulting in ROM grades significantly
improving by 22% to 54.2 cpht (Q3 FY 2016: 44.3 cpht).
The shortfall in ROM tonnes mined compared to guidance relates
to challenges associated with the allocation of equipment and work
streams in the transitioning period as the old Block 4 is
decommissioned and the Block 5 SLC ramps up. Production of ca.
900,000 tonnes of undiluted ore is now expected for FY 2017, which
is marginally below guidance of ca. 1 Mtpa. The commissioning of
additional mining equipment at the start of Q4 is expected to
address the challenges mentioned above.
The planned reduction in tailings carats resulted in overall
production decreasing by 1% to 522,515 carats (Q3 FY 2016: 530,138
carats), however we have increased tailings production to mitigate
any shortfall in ROM tonnes mined, producing 1.4 Mt for the first
nine months of FY 2017, above full year guidance of 1.3 Mt.
-- Cullinan production increased 20% to 227,523 carats (Q3 FY
2016: 190,329 carats) mainly due to a 23% increase in ROM carat
production as the new C-Cut Phase 1 mining area continued to
ramp-up as planned, with resultant improved ROM grades increasing
by 26% to 38.4 cpht (Q3 FY 2016: 30.5 cpht). ROM production from
the C-Cut is expected to reach ca. 1 Mt for full year FY 2017.
With construction of the new Cullinan plant nearing completion,
commissioning commenced towards the end of Q3 FY 2017, focusing on
the first of two mills as well as the electrical-, water- and
slimes-handling infrastructure. Production through the old plant
ceased in mid-April 2017 to facilitate the switch over to the new
plant. The first ROM material will be processed through the new
plant in May 2017 utilising the existing DMS and final recovery
sections. The remainder of the new plant sections (the second mill,
HPGR, large diamond recovery (XRL) and new final recovery sections)
will be fully commissioned by the end of Q4 FY 2017. As previously
reported, any untreated ROM stockpile material at Cullinan will be
processed in H1 FY 2018, owing to the excess capacity of the new
plant.
-- Koffiefontein's ROM production decreased 3% to 13,184 carats
(Q3 FY 2016: 13,537 carats), impacted by a slower than anticipated
start-up post the production shutdown in the previous quarter.
Despite this disappointing performance, ROM production is expected
to improve over the next two quarters to levels exceeding of 20,000
carats per quarter.
Due to the increased contribution of ore from undiluted areas,
accessed by the newly established SLC, Koffiefontein's average
price improved by 54% to US$652 per carat (Q3 FY 2016: US$424 per
carat).
-- Kimberley Ekapa Mining's attributable production delivered
185,144 carats (Q3 FY 2016: 202,830 carats), with surface
operations negatively impacted by rainfall. Treatment of
underground ROM ore increased compared to previous quarters
following the commissioning of the ROM crushing circuit in the
Combined Treatment Plant, with a further increase in ROM throughput
expected during Q4 FY 2017. Tailings grades of 11 cpht were
achieved for the Period, above guidance of 9 - 10 cpht, due to the
increased recovery of diamonds in the smaller size categories.
-- Williamson's diamond production decreased 9% to 51,402 carats
(Q3 FY 2016: 56,232 carats) as the final stages of commissioning of
the new mill section were undertaken. Unseasonably high rainfall
during the Period adversely impacted both access to blasted ROM
tonnes in the open pit and the handling and treatment of the
resultant wet ore.
The newly commissioned mill section delivered a 22% increase in
the ROM grade to 6.2 cpht (Q3 FY 2016: 5.1 cpht). The higher
recovery of smaller diamonds resulted in a ca. 7% decrease in the
mine's average price per carat excluding Exceptional Diamonds to
US$236 (H1 FY 2017: US$253).
Sales and Diamond Market
Diamond Market
-- Signs of stabilisation in the rough diamond market are
evident with steady demand across all size ranges, including goods
which were previously impacted by Indian demonetisation.
-- We continue to witness further evidence of improving retail
demand, with some encouraging trends in Mainland China, as well as
narrowing declines in Hong Kong and Macau.
Petra Sales
-- Q3 FY 2017 Revenue down 1% to US$119.1 million, with no
revenue from Exceptional Diamonds (Q3 FY 2016: US$120.5 million,
including US$15.0 million from Exceptional Diamonds). Revenue for
nine months to 31 March 2017 up 27% to US$347.6 million, including
US$10.8 million from Exceptional Diamonds, (Q3 FY 2016: US$274.4
million, including US$25.0 million from Exceptional Diamonds).
Diamond Prices
-- Rough diamond prices were up ca. 2% for Q3 FY 2017 on a
like-for-like basis in comparison to Petra's results for H1 FY
2017.
-- A further two tenders will be held during Q4 (April to June
2017) and Petra expects market conditions to remain stable during
this time, with Q4 being traditionally Petra's strongest sales
period.
Mine Actual(1) Actual(1) Guidance(2) Actual(1)
(US$/ct) (US$/ct) (US$/ct) (US$/ct)
Q3 FY 2017 9 months to FY 2017 FY 2016
31 March 2017
--------------- ----------- --------------- ----------- ---------
Finsch 99 98 100 - 105 89
--------------- ----------- --------------- ----------- ---------
Cullinan 98 115(3) 105 - 115 126(4)
--------------- ----------- --------------- ----------- ---------
Koffiefontein 652 535 520 - 550 462
--------------- ----------- --------------- ----------- ---------
KEM JV 94 94 125 - 130 132(5)
--------------- ----------- --------------- ----------- ---------
Williamson 236 278(6) 220 - 230 384(7)
--------------- ----------- --------------- ----------- ---------
Notes:
1. All sales (both ROM and tailings) including Exceptional
Diamonds were used to calculate the average values.
2. Weighted average (ROM and tailings), Excluding Exceptional Diamonds.
3. Excluding Exceptional Diamonds, the average value per carat was US$106.
4. Excluding Exceptional Diamonds, the average value per carat was US$109.
5. The average value per carat for FY 2016 reflects the dilutive
impact of combining tailings and ROM sales from H2 FY 2016
onwards.
6. Excluding Exceptional Diamonds, the average value per carat was US$247.
7. Excluding Exceptional Diamonds, the average value per carat was US$238.
Health and safety
-- The Group's lost time injury frequency rate ("LTIFR") for Q3
FY 2017 was 0.23 (Q3 FY 2016: 0.33). Petra remains highly focused
on this most important area.
-- The Company notes with regret the fatality of an employee of
a contracting company at Cullinan in an equipment-related incident
following the Period end. This incident highlights the requirement
for a further renewed focus on safety. Petra is committed to a zero
harm policy.
Corporate
-- A summary of the Group's current cash, diamond inventories,
debtors, borrowings and net debt is set out below.
Unit 31 Mar 31 Dec 30 Jun 31 Mar
2017 2016 2016 2016
--------------------- --------- ------------ ------------ ------------ ------------
Closing exchange R13.49:US$1 R13.73:US$1 R14.68:US$1 R14.76/US$1
rate used
for conversion
--------------------- --------- ------------ ------------ ------------ ------------
Cash at bank US$m 66.2 49.0 48.7 39.0
--------------------- --------- ------------ ------------ ------------ ------------
Diamond inventories US$m 49.3 56.6 43.6 54.3
Carats 602,891 673,031 549,620 721,259
------------------------------- ------------ ------------ ------------ ------------
Diamond debtors US$m 37.9 1.9 63.4 46.0
--------------------- --------- ------------ ------------ ------------ ------------
US$ loan notes
(including
accrued interest) US$m 308.2 302.1 302.0 308.2
--------------------- --------- ------------ ------------ ------------ ------------
Bank loans
and borrowings US$m 266.4 210.5 131.5 126.4
--------------------- --------- ------------ ------------ ------------ ------------
Net debt US$m 508.4 463.6 384.8 395.6
--------------------- --------- ------------ ------------ ------------ ------------
Bank facilities
undrawn and
available US$m 6.0 57.1 110.0 114.2
--------------------- --------- ------------ ------------ ------------ ------------
-- On 12 April 2017, the Group completed the issuance of US$650
million of new 7.25% senior secured second lien notes due 2022, and
the redemption of the Group's US$300 million 8.25% senior secured
second lien notes due 2020.
-- Following the simplification of the Company's debt structure
at the time of the Notes Issue, the Company's total financing
facilities now comprise US$650 million of notes and ZAR1,500
million of bank facilities (consisting of ZAR1,000 million
revolving credit and ZAR500 million working capital).
-- The maintenance and distribution covenants for the bank
facilities were renegotiated as part of the process and are shown
below. The calculation of consolidated net debt now includes
diamond debtors which were previously excluded.
Maintenance Covenants(1) Distribution Covenants
------------------- ----------------------------- -----------------------------
30 Jun 31 Dec 30 Jun 30 Jun 31 Dec 30 Jun
2017 2017 2018 and 2017 2017 2018
after and after
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
Net Debt(2)
: Consolidated
EBITDA 2.80:1 2.80:1 2.50:1 2.00:1 2.00:1 2.00:1
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
EBITDA:
Consolidated
Net Finance
Charges 3.50:1 3.85:1 4.00:1 6.00:1 6.00:1 6.00:1
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
Net Senior
Debt(3)
: Book Equity(4) 0.4:1 0.4:1 0.4:1 0.3:1 0.3:1 0.3:1
------------------- -------- ------- ---------- ------- ------- -----------
1. Covenant ratios will be measured semi-annually on a rolling
twelve month period at 30 June and 31 December, respectively.
2. Consolidated net debt is loans and borrowings, less cash, less diamond debtors.
3. Consolidated Net Senior Debt means at any time the
Consolidated Gross Debt (excluding any second lien and other
subordinated debt).
4. Book Equity is Equity excluding accounting reserves.
Notes:
1. The following exchange rate has been used for this announcement:
a. closing rate as at 31 March 2017 US$1:ZAR13.49 (31 March 2016 US$1:ZAR14.76)
2. The following definitions have been used in this announcement:
a. ct: carat
b. cpht: carats per hundred tonnes
c. DMS: dense media separation
d. Exceptional Diamonds: stones that sell for more than US$5 million each
e. HPGR: high pressure grinding rolls
f. LTIFR: lost time injury frequency rate
g. 'Other diamonds' includes mining of the Ebenhaezer satellite
kimberlite pipe at Koffiefontein and alluvial diamond mining at
Williamson.
h. Mcts: million carats
i. Mt: million tonnes
j. ROM: run-of-mine, i.e. relating to production from the primary orebody
k. SLC: sub-level cave, a variation of block caving
l. XRL: X-Ray Luminescence
3. Diamond inventory carrying values are stated at the lower of
cost of production on the weighted average basis or estimated net
realisable value.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins cathy.malins@petradiamonds.com
Cornelia Grant cornelia.grant@petradiamonds.com
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com
Anna Michniewicz annam@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
an increasingly important supplier of rough diamonds to the
international market. The Company has interests in five producing
operations: three underground mines in South Africa (Finsch,
Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint
venture (including the Kimberley Underground mine and extensive
tailings retreatment operations) and one open pit mine in Tanzania
(Williamson). It also maintains an exploration programme in
Botswana.
Petra has a core objective to steadily increase annual
production to ca. 5.3 million carats by FY 2019. The Group has a
significant resource base in excess of 300 million carats.
Petra conducts all operations according to the highest ethical
standards and will only operate in countries which are members of
the Kimberley Process. 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.
APPIX - MINE BY MINE PRODUCTION TABLES
Finsch - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Sales
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Revenue US$M 52.1 53.1 -2% 151.5 128.3 +18%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds sold Carats 527,782 579,772 -9% 1,537,797 1,491,840 +3%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Average price
per carat US$ 99 92 +8% 98 86 +14%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 864,148 860,333 0% 2,362,597 2,516,589 -6%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 468,429 381,266 +23% 1,284,430 1,131,221 +14%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Grade cpht 54.2 44.3 +22% 54.4 45.0 +21%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 344,135 517,173 -34% 1,385,893 1,753,501 -21%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 54,086 148,871 -64% 269,645 493,996 -45%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Grade cpht 15.7 28.8 -46% 19.5 28.2 -31%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,208,283 1,377,506 -12% 3,748,490 4,270,090 -12%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 522,515 530,138 -1% 1,554,075 1,625,216 -4%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Note:
1. The Company is not able to precisely measure the ROM /
tailings grade split because ore from both sources is processed
through the same plant; the Company therefore back-calculates the
grade with reference to resource grades.
Cullinan - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Sales
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Revenue US$M 24.8 21.3 +16% 70.8 46.3 +53%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds sold Carats 251,391 217,134 +16% 614,504 444,893 +38%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Average price
per carat US$ 98 98 0% 115 104 +11%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 553,481 568,101 -3% 1,592,899 1,748,499 -9%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 212,545 173,061 +23% 571,366 476,461 +20%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Grade cpht 38.4 30.5 +26% 35.9 27.2 +32%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 177,653 235,667 -25% 437,484 632,825 -31%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 14,978 17,268 -15% 75,910 36,233 +110%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Grade cpht 8.4 7.3 +15% 17.4 5.7 +205%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 731,134 803,768 -9% 2,033,383 2,381,324 -15%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 227,523 190,329 +20% 647,277 512,694 +26%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Koffiefontein - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
------------------- -------- --------- --------- --------- -------- -------- ---------
Sales
------------------- -------- --------- --------- --------- -------- -------- ---------
Revenue US$M 6.7 7.5 -11% 21.5 17.3 +24%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds sold Carats 10,315 17,623 -42% 40,103 39,191 +2%
------------------- -------- --------- --------- --------- -------- -------- ---------
Average price
per carat US$ 652 424 +54% 535 442 +21%
------------------- -------- --------- --------- --------- -------- -------- ---------
ROM Production
------------------- -------- --------- --------- --------- -------- -------- ---------
Tonnes treated Tonnes 183,790 183,366 0% 542,834 472,583 +15%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds produced Carats 13,184 13,537 -3% 37,954 38,377 -1%
------------------- -------- --------- --------- --------- -------- -------- ---------
Grade cpht 7.2 7.4 -3% 7.0 8.1 -14%
------------------- -------- --------- --------- --------- -------- -------- ---------
Ebenhaezer
/ Tailings
Production
------------------- -------- --------- --------- --------- -------- -------- ---------
Tonnes treated Tonnes - 108,677 -100% - 371,219 -100%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds produced Carats - 2,839 -100% - 9,759 -100%
------------------- -------- --------- --------- --------- -------- -------- ---------
Grade cpht - 2.6 -100% - 2.6 -100%
------------------- -------- --------- --------- --------- -------- -------- ---------
Total Production
------------------- -------- --------- --------- --------- -------- -------- ---------
Tonnes treated Tonnes 183,790 292,043 -37% 542,834 843,802 -36%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds produced Carats 13,184 16,376 -20% 37,954 48,136 -21%
------------------- -------- --------- --------- --------- -------- -------- ---------
Kimberley Ekapa Mining - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017(1) FY 2016(1) months months
to 31 to 31
March March
2017(1) 2016(2)
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Sales
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Revenue US$M 20.5 14.1 +45% 58.5 29.6 +98%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds sold Carats 217,761 85,301 +155% 624,427 146,414 +326%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Average price
per carat US$ 94 165 -43% 94 202 -53%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
ROM Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 134,304 198,348 -32% 343,602 681,458 -50%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 18,842 24,109 -22% 49,189 100,348 -51%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Grade cpht 14.0 12.2 +15% 14.3 14.7 -3%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,516,186 1,434,497 +6% 4,836,562 1,632,700 +196%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 166,302 178,721 -7% 568,128 186,839 +204%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Grade cpht 11.0 12.5 -12% 11.7 11.4 +3%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Total Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,650,490 1,632,845 +1% 5,180,164 2,314,158 +124%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 185,144 202,830 -9% 617,317 287,188 +115%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Notes:
1. Data for the nine months ending 31 March 2017, Q3 FY 2017 and
Q3 FY 2016 in the table above represent Petra's 75.9% attributable
share in the KEM JV.
2. Data for the nine months ending 31 March 2016 in the table
above represent production from Kimberley Underground ROM and
Tailings production for the period 1 July 2015 to 17 January 2016
and Petra's 75.9% attributable production from the Combined
Kimberley Operations for the period 18 January 2016 to 30 June
2016.
Williamson - Tanzania
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Sales
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Revenue US$M 14.8 24.2 -39% 45.4 53.6 -15%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds sold Carats 62,572 37,665 +66% 163,284 118,024 +38%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Average price
per carat US$ 236 642 -63% 278 455 -39%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 778,633 1,051,325 -26% 2,792,732 2,876,240 -3%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 47,916 53,445 -10% 149,592 142,717 +5%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Grade cpht 6.2 5.1 +22% 5.4 5.0 +8%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Alluvial Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 110,787 95,098 +17% 302,149 302,319 -0%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 3,486 2,787 +25% 8,641 9,356 -8%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Grade cpht 3.1 2.9 +7% 2.9 3.1 -7%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 889,420 1,146,423 -22% 3,094,881 3,178,559 -3%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 51,402 56,232 -9% 158,233 152,073 +4%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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