TIDMPDL 
 
21 July 2021                                                                                                      LSE: PDL 
 
                            Petra Diamonds Limited 
                   ("Petra" or the "Company" or the "Group") 
 
                            FY 2021 Trading Update 
 
Petra Diamonds Limited is pleased to provide the following unaudited trading 
update for the year ended 30 June 2021 (the "Year", the "Period" or "FY 2021"). 
 
FY 2021 Results & Outlook: 
 
  * Health & Safety: 
      + The Group's Lost Time Injury Frequency Rate for FY 2021 increased to 
        0.44 (FY 2020: 0.29). Remedial actions and various behaviour-based 
        intervention programmes were launched during the Year to improve the 
        trend 
      + Total injuries, including LTIs, in FY 2021 decreased to 42 (FY 2020: 
        45) 
  * Operations: 
      + FY 2021 production of 3.24 Mcts (FY 2020: 3.59 Mcts) with increased 
        year-on-year performance at Cullinan offset by lower production at 
        Finsch and Koffiefontein, while Williamson remained on care and 
        maintenance 
      + Record production of 1.94 Mcts at Cullinan 
  * Financials: 
      + FY 2021 revenue up 38% to US$406.9m (FY 2020: US$295.8m) driven by 
        sales from Exceptional Stones (having a value of US$5m or more) 
        contributing US$60.2m during the Year (FY 2020: US$14.9m); the highest 
        annual contribution to revenues from the sale of Exceptional Stones 
      + Post Period end, the Company sold the 39.34 carat exceptional Type IIb 
        blue diamond recovered from the Cullinan Diamond Mine in April 2021 for 
        US$40.2m 
  * Balance Sheet: 
      + Consolidated net debt reduced by nearly two thirds to US$241.2m at 30 
        June 2021 from US$700.4m at 31 December 2020 (31 March 2021: US$290.7m) 
        following completion of the capital restructuring in March 2021 
      + Unrestricted cash of US$156.9m at 30 June 2021 (31 March 2021: 
        US$139.8m; 31 December 2020: US$92.4m) with an additional US$7.7m of 
        undrawn banking facilities 
      + Diamond debtors of US$38.3m at 30 June 2021 (31 March 2021: US$2.6m), 
        given the close proximity of the June 2021 tender to Year end, with 
        debtors settling shortly after Year end 
      + Diamond inventory valued at US$54.3m at 30 June 2021 (31 March 2021: 
        US$75.5m) 
      + The ZAR/USD exchange rate closed the Period at ZAR14.27/USD1 (FY2020: 
        ZAR17.32/USD1), with an average rate for FY2021 of ZAR15.41/USD1 
        (FY2020: ZAR15.68/USD1) 
 
  * Outlook and FY 2022 guidance: 
      + FY 2022 production guidance of 3.3 to 3.6 Mcts, with the South African 
        operations estimated to contribute ca. 3.1 to 3.4 Mcts and Williamson, 
        where plans are currently being refined to allow operations to restart 
        during Q1 FY 2022, estimated to add between 0.22 to 0.27 Mcts for the 
        Year 
      + Discussions with the Government of Tanzania to reach agreement on 
        various issues at the Williamson mine are ongoing, with a view to being 
        concluded during Q1 FY2022. The Company also reports that US$10m ofa 
        VAT refunds were received from the Tanzanian Revenue Authority in two 
        separate payments during Q4 FY 2021 
      + Re-engineering projects initiated in July 2021 at Finsch and 
        Koffiefontein to comprehensively review and improve the mines' cost 
        bases and enhance operating margins at current throughput levels 
      + Although the number of COVID cases have increased as a result of a 
        third wave of infections in South Africa, there has been a limited 
        impact on our SA operations 
      + The recent unrest and rioting in SA has to date not impacted our SA 
        operations nor the supplies to the operations and will continue to be 
        closely monitored 
      + FY 2022 capex guidance of US$78 to US$92m 
 
FY 2021 Production, Sales and Capex - Summary 
 
                            Unit         FY 2021        FY 2020       Variance 
 
Gross revenue               US$M          406.9          295.8          +38% 
 
Total tonnes treated         Mt            8.1            12.3          -34% 
 
Total diamonds             Carats       3,240,312      3,589,176        -10% 
recovered 
 
Total capex                 US$M           23.8          36.4           -35% 
 
FY 2022 Production, Opex and Capex - Guidance 
 
                         Cullinan    Finsch    Koffiefontein    Williamson      Total 
                                                               (from Q2 FY 
                                                                  2022) 
 
Total carats recovered    1.70 -   1.32 - 1.40  0.06 - 0.07    0.22 - 0.27    3.3 - 3.6 
(Mcts)                     1.90 
 
ROM tonnes (Mt)          4.2 - 4.4 2.75 - 2.85  0.72 - 0.75     3.6 - 4.0 
 
ROM grade (cpht)          37 - 39    48 - 50     8.0 - 8.5      6.2 - 6.7 
 
Tailings tonnes (Mt)       0.44       0.07           -              - 
 
Tailings grade (cpht)     36 - 37    16 - 17         -              - 
 
Cash on-mine costs1      95 - 105    90 - 98       30 - 34        52 - 56      267 - 293 
(US$M) 
 
Expansion Capex1 (US$M)   37 - 41    13 - 16         0 - 1          -            50 - 58 
 
Sustaining Capex1 (US$M)  11 - 13      8 - 9         1 - 2        8 - 10         28 - 34 
 
Notes: 
 
 1. Foreign exchange rate of ZAR14.50:USD1 used to calculate US$-equivalent 
    amounts for SA operations in the table above. 
 
Richard Duffy, Chief Executive of Petra Diamonds, commented: 
 
"The Petra team has navigated a difficult FY2021 by delivering credible results 
whilst addressing numerous challenges around COVID-19 and the completion of our 
capital restructuring. This makes Cullinan's record performance, driven by 
Project 2022, all the more noteworthy. We enter FY 2022 with a considerably 
strengthened balance sheet and a more supportive diamond market than we have 
seen for some time." 
 
Conference Calls 
 
Petra's Chief Executive, Richard Duffy, and Finance Director, Jacques 
Breytenbach, will host a conference call at 9:30am and at 4pm BST today to 
discuss the Trading Update with investors and analysts. Please see below for 
dial in details. 
 
Trading Update 
 
Health and safety 
 
 
The Lost Time Injury Frequency Rate (LTIFR) for FY 2021 increased to 0.44 (FY 
2020: 0.29). The LTIs during the Period were mostly behavioural in nature and 
of low severity but are nevertheless concerning. A number of remedial actions 
have been taken, and various behaviour-based intervention programmes launched, 
which resulted in an improving trend during the Year. The total number of 
injuries during FY 2021, which includes LTIs, decreased to 42 (FY 2020: 45). 
Petra continues to target a zero-harm working environment. 
 
COVID-19 continues to pose a significant risk to the health and safety of the 
Group's workforce. Petra has implemented systems and strategies across all its 
operations aimed at preventing and/or containing the spread of the virus. To 
date, there have been 589 confirmed cases amongst the Company's workforce. More 
information on the Company's response to the pandemic is available on its 
website: https://www.petradiamonds.com/sustainability/health-and-safety/ 
our-response-to-covid-19/. 
 
Production and Operations 
 
FY2021 production decreased 10% to 3,240,312 carats (FY 2020: 3,589,176 
carats), notwithstanding record annual production from Cullinan, of 1.94Mcts. 
As previously announced, production at Finsch was impacted by unexpected levels 
of waste ingress during Q2 FY 2021, with subsequent mitigating measures 
reducing throughput during the second half of the Year. In addition, production 
at both Finsch and Koffiefontein was impacted by the high level of rainfall 
during the third quarter. These factors, combined with the Williamson mine 
remaining on care and maintenance throughout FY 2021, resulted in the Group's 
ROM tonnages for the Year decreasing by 33% to 7.7Mt (FY2020: 11.5Mt). 
 
Diamond market 
 
Positive demand for rough diamonds continued in Q4 FY 2021 driven by strong 
consumer demand in the key retail markets, notably the US and China, coupled 
with low inventories and the return of capacity in the midstream in India. 
Demand was also supported by upstream supply discipline and shortages in some 
areas. 
 
Demand for rough diamonds is expected to remain robust in the second half of 
CY2021, with retailers anticipating continued strong consumer demand. The 
Company continues to closely monitor the impact of COVID-19 on its clients' 
ability to attend tenders and will continue its flexible approach in planning 
its upcoming sales events. 
 
Diamond Sales 
 
FY 2021 revenue increased 38% to US$406.9m (FY 2020: US$295.8m) driven by sales 
from Exceptional Stones contributing US$60.2m during the Year (FY 2020: 
US$14.9m); the highest annual contribution to revenues from the sale of 
Exceptional Stones. On a like for like basis, realised diamond prices in Q4 FY 
2021 increased ca. 5.7% from those achieved in Q3 FY 2021. 
 
The Company managed to make use of improving market conditions towards the end 
of the Period to dispose of low value stock built up in previous periods; this 
resulted in additional sales of US$3.1m, releasing ca. 141,000 carats, which 
caused some dilution in average prices achieved in Q4 FY 2021. The table below 
reflects average prices achieved for normal ROM sales in Q4 FY2021 and FY 2021, 
and the impact of the low value stock sold in Q4 FY 2021 on the average prices 
for the respective periods. In addition to the sale of low value stock, the ROM 
average price for Koffiefontein in Q4 FY2021 was impacted by low volumes and 
poor product quality. 
 
                        Q4 FY 2021                     FY 2021             FY 2020 
 
                  ROM     Low value Average    ROM     Low value Average   Average 
                 Sales      stock    price    Sales      stock    price     price 
                 (US$/      sold     (US$/    (US$/      sold     (US$/     (US$/ 
                 carat)     (US$/   carat)    carat)     (US$/    carat)   carat) 
                           carat)                       carat) 
 
Cullinan1         124          12     112      114          12     111         98 
 
Finsch              94        32       84        79        32        77        75 
 
Koffiefontein     270         25      233      440         25      419       387 
 
Williamson         -          -        -       150         -       150       177 
 
1 Prices include Exceptional stones 
 
In April 2021 the Company announced the recovery of an exceptional 39.34ct blue 
stone from the Cullinan mine. The diamond was sold via a special tender post 
Period end to a partnership between De Beers and Diacore for US$40.2m, or 
US$1,021,357 per carat. This is the highest price Petra has ever achieved for a 
single stone. 
 
Project 2022 Update 
 
The implementation of throughput ideas remains the largest contributor to 
improving operational cash flow, led by Cullinan's record recovery of 1.94Mcts 
in FY 2021. Due to reduced throughput at Finsch, Koffiefontein and Williamson, 
expectations on the annualised contribution from throughput initiatives were 
reduced to around US$50m in the Company's previous Trading Update. The Company 
remains confident that it will achieve the annualised contribution of US$50m, 
supported by measures taken to curtail the waste ingress at Finsch. 
 
Initiatives undertaken to drive cost efficiencies are expected to contribute an 
annualised US$20m going into FY 2022 and remains unchanged from previous 
guidance. 
 
The Project 2022 Organisational Design Review was completed during FY 2021 and 
will result in updated role descriptions providing for clearer line of site and 
improved accountability. 
 
Corporate and Financial 
 
Consolidated net debt reduced further to US$241.2m as at 30 June 2021 from 
US$290.7m at the end of March 2021, and US$693.2m as at 30 June 2020. 
 
Petra Diamonds had unrestricted cash of US$156.9m (30 June 2020: US$67.6m), 
available undrawn banking facilities of US$7.7m (30 June 2020: US$ nil), 
diamond debtors of US$38.3m (30 June 2020: US$4.8m) with the June 2021 tender 
closing at Period-end, and debtors settling shortly thereafter, and diamond 
inventory valued at US$54.3m as at 30 June 2021 (30 June 2020: US$84.1m). Both 
Diamond Debtors and Diamond Inventory for FY 2020 were significantly impacted 
by the inability to host tenders during Q4 FY 2020 following the initial 
COVID-19 outbreak. 
 
Update on community and remedial programmes at the Williamson Mine 
 
On 12 May 2021, the Company announced that it had reached a settlement, on a no 
admission of liability basis, in relation to claims brought in London by the UK 
law firm Leigh Day, on behalf of a number of anonymous claimants. These related 
to alleged breaches of human rights, associated with third-party security 
operations, within the Special Mining Licence area of the Williamson Diamond 
Mine. 
 
The agreed total settlement figure included significant funds which Petra has 
committed to invest in restorative projects dedicated to providing long-term 
sustainable support to the communities living around the mine. In addition, 
both the Company and Williamson Diamonds Limited have taken a number of 
actions, which are detailed in the announcement published on 12 May 2021 titled 
'Findings of the independent Board Sub-Committee'. The announcement can be 
accessed on the Company's website: 
 
https://www.petradiamonds.com/our-operations/our-mines/williamson/ 
allegations-of-human-rights-abuses-at-the-williamson-mine/ 
 
Having already established the Operational Grievance Mechanism for complaints 
and grievances related to operational impacts, the Company has continued with 
the process of the design and implementation of a non-judicial, Independent 
Grievance Mechanism to address allegations of severe human rights impacts. A 
series of engagements with Government Ministries and Agencies, Civil Society 
and NGOs were conducted in Dodoma and Dar es Salaam, seeking feedback and 
support on the proposed design of the Independent Grievance Mechanism. The 
company has specialist external support from Synergy Global Consulting in the 
development of this process. Synergy is a specialist international consultancy 
with over twenty years' experience working with companies, governments and 
community-based organisations. 
 
Shortly after Period end, Petra Diamonds Limited paid in excess of £1m into an 
escrow account to fund the restorative programmes, which will benefit the 
communities surrounding the mine. Synergy has been formally appointed to manage 
these funds, and they will work closely with the communities and local NGOs on 
the formulation and implementation of these programmes. 
 
The programmes are intended to provide long term sustainable benefits to local 
communities through income generating projects. These include: 
 
  * feasibility studies into a formalised artisanal tailings project at the 
    mine and an agri-business project; 
  * the establishment of enhanced community clinical and medical support; 
  * managed access to parts of the mine for local residents to collect firewood 
    and graze animals and 
  * the launch of a Gender Based Violence campaign to raise awareness and 
    provide specific support and counselling for victims of gender-based 
    violence. 
 
During the period from 1 April to the end of June 2021, there were a total of 
109 incidents of illegal incursions onto the Williamson mine lease area, 
resulting in three illegal diggers suffering minor injuries and being provided 
with treatment at the Mwadui hospital and another local medical facility before 
being discharged. We believe the contracted security teams and Tanzanian police 
acted in accordance with the Voluntary Principles on Security and Human Rights. 
There was some damage caused to police and contracted security provider 
vehicles in 5 of the incidents. A total of 18 arrests were made over this 
three-month period. 
 
In addition to the local community projects mentioned above, the Company is 
also continuing its engagement with communities around the mine to highlight 
the dangers of illegal mining, seeking to reduce illegal incursions onto the 
Williamson mine lease area. 
 
The Company will continue to monitor the effects of the actions taken to date 
and is committed to the programmes and initiatives detailed in its 12 May 
announcement referenced above. 
 
Board 
 
Following completion of the capital restructuring, the appointment of Mr. 
Matthew Glowasky as a Non-Independent Non-Executive Director of the Company 
became effective; his prospective appointment was initially announced on 
22 December 2020. 
 
On 1 July 2021 the Company announced the appointment of Deborah Gudgeon as an 
Independent Non-Executive Director and Chair-designate of the Audit and Risk 
Committee.  In addition, on 1 July 2021 Alexandra Watson and Johannes Bhatt 
were both appointed as Non-Independent Non-Executive Directors, having been 
nominated by Franklin Templeton, and Monarch Master Funding 2 (Luxembourg) 
S.a.r.l. respectively. The Company welcomes the new Directors to the Board; 
together they bring a wealth of experience, complementing that of our existing 
Directors, and their appointments leave the Board well placed to take the 
Company forward. 
 
                                    Ends 
 
Conference Calls: 
 
Participants may join the 9:30am BST call by dialling one of the following 
numbers shortly before the call: 
 
First Call - 9:30am BST 
 
From the UK: 0330 606 1118 
 
From South Africa (toll free): 80 006 4559 
 
From the rest of the world: +44 330 606 1118 
 
Room Number: 501857 
 
Participant passcode: 9758 
 
A replay of the conference call will be available on the following numbers: 
 
From the UK: 0330 606 1118 
 
From the US (toll free): (877) 890-2416 
 
From South Africa (toll free): 80 006 4559 
 
From the rest of the world: +44 330 606 1118 
 
Playback passcode: 400872 
 
Second Call - 4:00pm BST 
 
An additional conference call to cater for North American and other 
international investors will be held at 4:00pm BST today. Participants are 
advised to listen to the replay of the first conference call in advance of this 
call. 
 
From the United States (toll free): (877) 890-2416 
 
From the UK: 0330 606 1118 
 
From South Africa (toll free): 80 006 4559 
 
From the rest of the world: +44 330 606 1118 
 
Room Number: 501857 
 
Participant passcode: 9578 
 
For further information, please contact: 
 
Petra Diamonds, London                          Telephone: +44 20 7494 8203 
Marianna Bowes 
investorrelations@petradiamonds.com 
Des Kilalea 
Julia Stone 
 
Notes: 
 
 1. The following definitions have been used in this announcement: 
 
 a. Exceptional Stones: diamonds with a valuation and selling price of US$5m or 
    more per stone 
 b. cpht: carats per hundred tonnes 
 c. Kcts: thousand carats 
 d. Kt: thousand tonnes 
 e. LOM: life of mine 
 f. LTI: lost time injury 
 g. LTIFR: lost time injury frequency rate 
 h. Mcts: million carats 
 i. Mt: million tonnes 
 j. FY: financial year 
 k. Q: quarter of the financial year 
 l. ROM: run-of-mine (i.e. production from the primary orebody) 
 m. SLC: sub level cave 
 n. m: million 
 
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 mine in Tanzania (Williamson). 
 
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. 243 million carats, which supports the potential for long-life 
operations. 
 
Petra strives to conduct 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'. The Company's US$337m loan notes due in 2026 
will be listed on the Global Exchange market of the Irish Stock Exchange. For 
more information, visit www.petradiamonds.com. 
 
APPIX - CORPORATE & FINANCIAL AND PRODUCTION, SALES & CAPEX TABLES 
 
                          Unit   30 June 2021 31 March 2021  31 December    30 June 
                                                                 2020         2020 
 
Closing exchange rate            R14.27:US$1   R14.77:US$1   R14.69:US$1  R17.32:US$1 
used for conversion 
 
Cash at bank (including   US$M      173.0         153.8         106.3         67.6 
restricted cash) 
 
Diamond inventories1      US$M       54.3          75.5         105.0         84.1 
                         Carats    637,676      1,020,973     1,385,402    1,357,584 
 
Diamond debtors           US$M       38.3          2.6           3.7          4.8 
 
US$336.7m loan notes      US$M      347.8         338.7           -            - 
(issued March 2021)2 
 
US$650m loan notes        US$M        -             -           702.0        676.9 
(issued April 2017)3 
 
Bank loans and            US$M      104.7         108.4          61.2         52.1 
borrowings4 
 
BEE partner bank          US$M        -             -            47.2         40.0 
facilities4 
 
Bank facilities undrawn   US$M       7.7           10.8           -            - 
and available4 
 
Consolidated net debt5    US$M      241.2         290.7         700.4        693.2 
 
Notes: 
 
 1. Recorded at the lower of cost and net realisable value. 
 2. The US$336.7m loan notes represents the gross capital of US$336.7m of 
    notes, plus accrued interest until the end of the relevant periods, issued 
    following the restructuring completed during March 2021. 
 3. The US$650m loan notes represents the gross capital of US$650m of notes 
    issued on April 2017, plus accrued and unpaid interest for the relevant 
    periods; these loan notes were settled in full following the restructuring 
    completed during March 2021. 
 4. Bank loans and borrowings represent amounts drawn under the Group's 
    refinanced South African bank facilities as part of the restructuring and 
    comprises the ZAR1.1 billion term loan (US$76.6m) and ZAR401.5m (US$28.1m) 
    drawn under the ZAR509.6m (US$35.7m) revolving credit facility. Under the    revolving credit facility, ZAR109.6m (US$7.7m) remains undrawn and 
    available. During FY2021 and as part of the restructuring, the BEE partner 
    bank facilities (which comprised the BEE guarantees) were settled by the 
    Group through proceeds of the ZAR1.2 billion term loan. 
 5. Consolidated Net Debt is bank loans and borrowings plus loan notes, less 
    cash, less diamond debtors and includes the Black Economic Empowerment 
    guarantees of ZARnil as at 30 June 2021 (ca. US$40.0m (ZAR693.6m) as at 30 
    June 2020). 
 
Group Production, Sales and Capex - Summary 
 
                                  Unit       FY 2021       FY 2020      Variance 
 
Sales 
 
Diamonds sold                    Carats     3,960,475     2,895,497        37% 
 
Revenue                           US$M        406.9         295.8          38% 
 
Production 
 
ROM diamonds                     Carats     3,057,860     3,442,593       -11% 
 
Tailings & other1 diamonds       Carats      182,452       146,583        +24% 
 
Total diamonds                   Carats     3,240,312     3,589,176       -10% 
 
Tonnages 
 
ROM tonnes                         Mt          7.7          11.5          -33% 
 
Tailings & other1 tonnes           Mt          0.4           0.8          -50% 
 
Total tonnes                       Mt          8.1          12.3          -34% 
 
Capex 
 
Expansion                         US$M        16.9          21.8          -23% 
 
Sustaining                        US$M         6.9          14.6          -53% 
 
Total                             US$M        23.8          36.4          -35% 
 
Notes: 
 
 1. 'Other' represents alluvial diamond mining at Williamson. 
 
Cullinan - South Africa 
 
                                  H2         H1 
                       Unit    FY 2021    FY 2021    FY 2021    FY 2020    Variance 
 
Sales 
 
Revenue                US$M     143.3      107.3      250.6      116.5      +115% 
 
Diamonds sold         Carats  1,366,300   894,758   2,261,058  1,183,745     +91% 
 
Average price per      US$       105        120        111         98        +13% 
carat 
 
ROM Production 
 
Tonnes treated        Tonnes  2,275,329  2,339,473  4,614,802  3,972,682     +16% 
 
Diamonds produced     Carats   847,864    913,626   1,761,490  1,482,482     +19% 
 
Grade1                 Cpht      37.3       39.1       38.2       37.3       +2% 
 
Tailings Production 
 
Tonnes treated        Tonnes   224,153    221,385    445,538    257,549      +73% 
 
Diamonds produced     Carats    86,436     96,016    182,452     95,918      +90% 
 
Grade1                 Cpht      38.6       43.4       41.0       37.2       +10% 
 
Total Production 
 
Tonnes treated        Tonnes  2,499,481  2,560,858  5,060,339  4,230,231     +20% 
 
Diamonds produced     Carats   934,300   1,009,642  1,943,942  1,578,400     +23% 
 
Capex 
 
Expansion Capex        US$M      9.3        5.2        14.5       13.0       +12% 
 
Sustaining Capex       US$M      1.6        0.7        2.3        3.4        -32% 
 
Total Capex            US$M      10.9       5.9        16.8       16.4       +2% 
 
Notes: 
 
 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. 
 
Finsch - South Africa 
 
                                  H2         H1 
                       Unit    FY 2021    FY 2021    FY 2021    FY 2020    Variance 
 
Sales 
 
Revenue                US$M      68.7       54.8      123.5      101.1       +22% 
 
Diamonds sold         Carats   833,665    768,647   1,602,312  1,348,181     +19% 
 
Average price per      US$        82         71         77         75        +3% 
carat 
 
ROM Production 
 
Tonnes treated        Tonnes   988,195   1,323,000  2,311,195  2,719,389     -15% 
 
Diamonds produced     Carats   541,911    695,308   1,237,219  1,603,678     -23% 
 
Grade1                 Cpht      54.8       52.6       53.5       59.0       -9% 
 
Tailings Production 
 
Tonnes treated        Tonnes      0          0          0       211,541     -100% 
 
Diamonds produced     Carats      0          0          0        39,890     -100% 
 
Grade1                 Cpht       0          0          0         18.9      -100% 
 
Total Production 
 
Tonnes treated        Tonnes   988,195   1,323,000  2,311,195  2,930,930     -21% 
 
Diamonds produced     Carats   541,911    695,308   1,237,219  1,643,568     -25% 
 
Capex 
 
Expansion Capex        US$M      0.9        0.8        1.7        6.1        -72% 
 
Sustaining Capex       US$M      1.8        0.5        2.3        2.3         0% 
 
Total Capex            US$M      2.7        1.3        4.0        8.4        -52% 
 
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. 
 
Koffiefontein - South Africa 
 
                                      H2         H1 
                     Unit        FY 2021    FY 2021    FY 2021    FY 2020   Variance 
 
Sales 
 
Revenue              US$M           16.8       11.2       28.0       25.7        +9% 
 
Diamonds sold        Carats       47,706     18,944     66,650     66,326         0% 
 
Average price per    US$             352        590        419        387        +8% 
carat 
 
ROM Production 
 
Tonnes treated       Tonnes      260,708    493,661    754,369    891,705       -15% 
 
Diamonds produced    Carats       23,239     35,912     59,151     69,077       -14% 
 
Grade                Cpht            8.9        7.3        7.8        7.7        +1% 
 
Total Production 
 
Tonnes treated       Tonnes      260,708    493,661    754,369    891,705       -15% 
 
Diamonds produced    Carats       23,239     35,912     59,151     69,077       -14% 
 
Capex 
 
Expansion Capex      US$M            0.3        0.3        0.6        2.7       -78% 
 
Sustaining Capex     US$M            0.8        0.3        1.1        1.1         0% 
 
Total Capex          US$M            1.1        0.6        1.7        3.8       -55% 
 
Williamson - Tanzania 
 
                                       H2         H1 
                     Unit         FY 2021    FY 2021    FY 2021    FY 2020  Variance 
 
Sales 
 
Revenue              US$M               0        4.6        4.6       52.5      -91% 
 
Diamonds sold        Carats             0     30,339     30,339    297,245      -90% 
 
Average price per    US$                0        150        150        177      -15% 
carat 
 
ROM Production 
 
Tonnes treated       Tonnes             0          0          0  3,980,438     -100% 
 
Diamonds produced    Carats             0          0          0    287,356     -100% 
 
Grade                Cpht               0          0          0        7.2     -100% 
 
Alluvial Production 
 
Tonnes treated       Tonnes             0          0          0    302,567     -100% 
 
Diamonds produced    Carats             0          0          0     10,774     -100% 
 
Grade                Cpht               0          0          0        3.6     -100% 
 
Total Production 
 
Tonnes treated       Tonnes             0          0          0  4,283,005     -100% 
 
Diamonds produced    Carats             0          0          0    298,130     -100% 
 
Capex 
 
Expansion Capex      US$M             0.0        0.0        0.0        0.0        0% 
 
Sustaining Capex     US$M             0.0        0.3        0.3        8.0      -96% 
 
Total Capex          US$M             0.0        0.3        0.3        8.0      -96% 
 
Note: 
 
 1. Negatively impacted by the 71,654 carat parcel blocked for export. 
 
CAPEX RECONCILIATION 
 
Capex                                Unit                 FY 2021           FY 2020 
 
Cullinan                             US$M                    16.8              16.4 
 
Finsch                               US$M                     4.0               8.4 
 
Koffiefontein                        US$M                     1.7               3.8 
 
Williamson                           US$M                     0.3               8.0 
 
Subtotal - Capex incurred by         US$M                    22.8              36.6 
operations 
 
Corporate / exploration              US$M                     1.0              -0.2 
 
Total Group Capex                    US$M                    23.8              36.4 
 
Notes: 
 
 1. Petra operates an internal projects / construction division and, although 
    this division's spend is reported in the Group's total Capex, it is policy 
    not to account for it on a specific mine's Capex until the work completed 
    is invoiced to the relevant operation. 
 2. Petra's annual Capex guidance is cash-based and excludes capitalised 
    borrowing costs. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 21, 2021 02:00 ET (06:00 GMT)

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