Petra chasing over loss!
H1 production gone up by 10% to 2,019,147 carats! Recently Petra Diamonds announced its H1 FY 2019 interim result says, the sale of Petra’s interest in the Kimberley Ekapa Mining Joint Venture-KEM JV and Helam Mining, is being completed in December 2018. Accordingly the H1 result has not included KEM JV & Helam performance unless specified! During the H1 production gone up 10% to 2,019,147 carats over the previous H1 FY 2018 had registered 1,843,956 carats production. Over all Carats sold increased 15% to 1,736,357 while H1 FY 2018 had sold 1,510,361 carats. Increased sale is a result of increased production. Financial Revenue generated of US$207.1 million over the H1 FY 2018 of US$191.8 million & net loss adjusted after tax of US$4.5 million was a US$7.2 million profit in H1 FY 2018. Petra says, loss on discontinued operations relating to KEM JV and Helam of US$39.7 million (H1 FY 2018: US$53.9 million loss – KEM JV only). However, should product mix...