Production over 2.9mn carats at Petra
Q3 revenue decreased 7% yet remained up YoY ! Petra Diamonds presented report for the three month period 1 January 2019 to 31 March 2019 Q3 FY 2019 and the nine months ending FY 2019 YTD. Q3 production of 924,228 carats over Q3 FY 2018 was of 992,315 carats that reflecting increased production at Cullinan, Koffiefontein and Williamson, offset by lower production at Finsch. Petra Diamond Production for the nine months to 31 March 2019 up 4% to 2,943,374 carats over FY 2018 YTD of 2,836,272 carats. Petra claims that the production guidance of 3.8 – 4.0 million carats for FY 2019 maintained. Installation of the remaining draw points across the footprint of the C-Cut Phase 1 block cave at Cullinan is progressing as planned, with completion expected during H1 FY 2020. With the progression across the C-Cut footprint, the incidence of larger stones is improving as demonstrated by the recovery of two +100 carats gem-quality stones during the Period. Accordingly, the 425....