Petra production up by 10% in H1
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.