GJ Town India

Diamonds sale increased 15% in H1 FY 2019 Petra Diamonds Limited announces trading update for H1 FY 2019 & says the sale of Petra’s interest in the Kimberley Ekapa Mining Joint Venture which completed on 05 December 2018; all figures are stated excluding the KEM JV, unless otherwise specified. According to the update, H1 diamond production up 10% to 2,019,147 carats over the H1 FY 2018 of 1,843,956 carats. Full year production guidance of carat 3.8- 4.0 mn cts maintained. H1 revenue up 8% to US$207.1 million over the previous H1 FY 2018: US$191.7 million. Diamonds sale increased 15% to 1,736,357 carats that was in H1 FY 2018 of 1,510,361 carats. Rough diamond prices on a like-for-like basis reduced by caret 4% compared to H2 FY 2018 due to usual seasonal weakness. The product mix during H1, especially at Cullinan, yielded prices at the lower end of historical ranges. Capex of US$40.6 million for the Period tumbled significant low from H1 FY 2018 worth US$69....

Binding Heads of Agreement reached post Year end with regards to the disposal of the Company's interest in the KEM JV to Petra's joint venture partner Ekapa Mining Pty Ltd. As noted in the FY 2018 Trading Update, the Nomination Committee is currently in year two of its three year succession plan and is continuing to review its Board, board committee and senior management structures. Good progress is being made with plans to make additional changes in FY 2019 in order to ensure the Company has the right mix of expertise and skills. New non-executive appointments are currently being confirmed with a view to making an announcement in this regard in October 2018. As part of the Nomination Committee Succession plan, a process to identify a successor for the CEO position has now commenced. In line with the Company's development from a phase of intensive capital expenditure and expansion to a focus on steady state operations, Johan Dippenaar will be stepping down from...