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Petra Diamonds Ltd (PDL.L)

PDL.L on London Stock Exchange

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75.74
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Latest Key Developments (Source: Significant Developments)

Cobas Asset Management Discloses 5.01 Percent Stake In Petra Diamonds- Filing
Thursday, 30 Aug 2018 

Aug 30 (Reuters) - Petra Diamonds Ltd ::COBAS ASSET MANAGEMENT, WITH VOTING RIGHTS ON BEHALF OF MULTIPLE MANAGED PORTFOLIOS DISCLOSES A 5.01 PERCENT STAKE IN PETRA DIAMONDS- FILING.  Full Article

Petra Diamonds Says FY Revenue Up 21 Pct
Monday, 23 Jul 2018 

July 23 (Reuters) - Petra Diamonds Ltd ::FY REVENUE ROSE 21 PERCENT TO 576.4 MILLION USD.FY PRODUCTION UP 15% TO 4.6 MCTS.NET DEBT AS AT 30 JUNE 2018 REDUCED TO US$436.1 MILLION (US$518.8 MILLION NET OF DIAMOND DEBTORS OF US$82.7 MILLION).FY PRODUCTION UP 15% TO 4.6 MCTS (FY 2017: 4.0 MCTS), IN LINE WITH GUIDANCE OF 4.6 TO 4.7 MCTS.DIAMOND MARKET REMAINED STABLE THROUGHOUT FY 2018, WITH ROUGH DIAMOND PRICES ON A LIKE FOR LIKE BASIS UP CA. 2% FOR YEAR.FY REVENUE UP 21% TO US$576.4 MILLION (FY 2017: US$477.0 MILLION).FY OPERATIONAL CAPEX (EXCLUDING CAPITALISED BORROWING COSTS) REDUCED TO US$142.7 MILLION (FY 2017: US$255.1 MILLION).FY 2019 CAPEX (EXCLUDING CAPITALISED BORROWING COSTS) IS GUIDED AT CA. US$100 MILLION (EXCLUDING KEM JV: CA. US$93 MILLION).TOTAL CAPEX FOR FY 2020 IS EXPECTED TO BE CA. US$72 MILLION (EXCLUDING KEM JV), MOSTLY RELATING TO CULLINAN AND FINSCH.EXPECTS DIAMOND MARKET TO REMAIN STABLE IN FY 2019.  Full Article

South Africa's NUM Signs Wage Agreement With Petra Cullinan Diamond Mine
Thursday, 19 Jul 2018 

July 19 (Reuters) - South Africa's National Union Of Mineworkers::SIGNED A 1 YEAR WAGE AGREEMENT WITH PETRA CULLINAN DIAMOND MINE.AGREEMENT INCLUDES WAGE INCREASES IN CATEGORIES A & B OF 8.5 PERCENT.COMPANY PENSION FUND CONTRIBUTION IN CATEGORIES A & B WILL BE 8.5% FOR PETRA CULLINAN DIAMOND MINE.AGREEMENT INCLUDES LIVING OUT ALLOWANCE IN CATEGORIES A & B OF R1400/MONTH.  Full Article

South Africa's National Union Of Mineworkers Signs One Year Wage Deal With Petra Cullinan Diamond Mine
Thursday, 19 Jul 2018 

July 19 (Reuters) - SOUTH AFRICA'S NATIONAL UNION OF MINEWORKERS::SIGNED A 1 YEAR WAGE AGREEMENT WITH PETRA CULLINAN DIAMOND MINE.COMPANY PENSION FUND CONTRIBUTION IS GOING TO BE 8.5% FOR PETRA CULLINAN DIAMOND MINE.AGREEMENT INCLUDES WAGE INCREASES IN CATEGORIES A & B OF R1400 PER MONTH.  Full Article

Petra Diamonds Says Disposal Of Interest In Kimberley Ekapa Mining JV
Thursday, 5 Jul 2018 

July 5 (Reuters) - Petra Diamonds Ltd ::DISPOSAL OF INTEREST IN KIMBERLEY EKAPA MINING JV.DEAL FOR CASH CONSIDERATION OF CA. ZAR300 MILLION.ZAR300 MILLION PURCHASE CONSIDERATION WILL BE PAYABLE IN 24 MONTHLY INSTALMENTS STARTING IN JANUARY 2019.DISPOSAL WILL BE ON A GOING CONCERN BASIS.EXPECTED THAT A NON-CASH IMPAIRMENT CHARGE WILL BE RECORDED IN COMPANY'S PRELIMINARY RESULTS FOR YEAR TO 30 JUNE 2018.BINDING HEADS OF AGREEMENT WITH REGARDS TO DISPOSAL OF 75.9% INTEREST IN KEM JV TO CO'S JV PARTNER EKAPA MINING.EXPECTS A NON-CASH IMPAIRMENT CHARGE ON DISPOSAL IN REGION OF US$35 - 45 MILLION TO BE RECORDED IN FY 2018.  Full Article

Petra Diamonds Says Announces Fully Underwritten Rights Issue To Raise $178 Mln
Thursday, 24 May 2018 

May 24 (Reuters) - Petra Diamonds Ltd ::SAYS ANNOUNCES A FULLY UNDERWRITTEN RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF APPROXIMATELY US$178 MILLION.SAYS BOARD PROPOSE TO ISSUE 332.8 MILLION RIGHTS ISSUE SHARES AT AN ISSUE PRICE OF 40 PENCE PER RIGHTS ISSUE SHARE.PETRA DIAMONDS - TARGETING REDUCTION IN GROUP'S LEVERAGE TO 2X OR LESS CONSOLIDATED NET DEBT/CONSOLIDATED EBITDA BY FY2020 END.PETRA DIAMONDS - UP TO US$120 MILLION OF NET PROCEEDS WILL BE USED TO FULLY PAY DOWN OUTSTANDING DRAWN INDEBTEDNESS WITH SOUTH AFRICAN LENDING GROUP.  Full Article

Petra Diamonds Q3 Revenue Rises 44 Percent To $172 Million
Monday, 23 Apr 2018 

April 23 (Reuters) - Petra Diamonds Ltd ::Q3 REVENUE ROSE 44 PERCENT TO 172 MILLION USD.Q3 PRODUCTION 1,194,947 CARATS CARATS VERSUS 999,768 CARATS IN Q3 2017."FUTURE FOCUS OF COMPANY WILL MOVE AWAY FROM VOLUME TARGETS TO VALUE OPTIMISATION"- CEO.Q3 ROM PRODUCTION 981,201 CARATS VERSUS 760,916 CARATS IN Q3 2017.Q3 REVENUE UP 44% TO US$172.0 MILLION FROM 1,373,771 CARATS SOLD (Q3 FY 2017: US$119.1 MILLION FROM 1,069,886 CARATS SOLD).PETRA - REVENUE FOR NINE MONTHS TO 31 MARCH 2018 UP 14% TO US$397.3 MILLION FROM 3,184,924 CARATS SOLD (Q3 FY 2017: US$347.6 MILLION FROM 2,979,999 CARATS SOLD).DIAMOND MARKET REMAINED RELATIVELY STRONG IN Q3, BOOSTED BY CONTINUED FESTIVE RETAIL SELLING SEASON.NET DEBT AS AT 31 MARCH 2018 WAS US$685.9 MILLION (31 DECEMBER 2017: US$644.7 MILLION).  Full Article

Petra Diamonds says Q1 revenue down 17 pct to $78.7 mln
Monday, 23 Oct 2017 

Oct 23 (Reuters) - Petra Diamonds Ltd ::Q1 REVENUE FELL 17 PERCENT TO 78.7 MILLION USD.‍DIAMOND PRICES FOR Q1 ON A LIKE-FOR-LIKE BASIS WERE DOWN CA. 3% IN COMPARISON TO H2 FY 2017​.PETRA DIAMONDS LTD - ‍Q1 PRODUCTION DOWN 4% TO 1,053,817 CARATS (Q1 FY 2017: 1,097,523 CARATS)​.PETRA DIAMONDS - ‍NET DEBT AT 30 SEPTEMBER 2017 OF US$613.8 MILLION (30 JUNE 2017: US$555.3 MILLION).PETRA DIAMONDS LTD - ‍Q1 ROM PRODUCTION INCREASED 17% TO 842,809 CARATS (Q1 FY 2017: 720,475 CARATS)​.PETRA DIAMONDS LTD - ‍Q1 REVENUE DOWN 17% TO US$78.7 MILLION FROM 711,277 CARATS SOLD (Q1 FY 2017: US$94.7 MILLION FROM 745,447 CARATS SOLD)​.PETRA DIAMONDS LTD - ‍DIAMOND PRICES FOR Q1 ON A LIKE-FOR-LIKE BASIS WERE DOWN CA. 3% IN COMPARISON TO H2 FY 2017​.‍GROUP MAINTAINS FULL YEAR PRODUCTION GUIDANCE OF CA. 4.8 TO 5.0 MCTS​.‍"DIAMOND MARKET IS SHOWING SIGNS OF SEASONAL WEAKNESS"​.PETRA DIAMONDS - CULLINAN PLANT NOW FULLY OPERATIONAL, PLANT IS EXPECTED TO ACHIEVE NAMEPLATE CAPACITY OF 6 MTPA DURING H2 FY 2018​.  Full Article

Petra flags likely breach of Dec. 31 EBITDA measurement ratios
Monday, 9 Oct 2017 

Oct 9 (Reuters) - PETRA DIAMONDS LTD ::‍UPDATE REGARDING BANK FACILITY COVENANTS​.‍TWO EBITDA RELATED COVENANT MEASUREMENTS RELATED TO ITS SENIOR DEBT FACILITIES FOR FY SENSITIVE TO CHANGES IN DIAMOND PRICES, EXCHANGE RATES, PRODUCTION.‍POST YEAR END, COMPLIANCE HAS BEEN PLACED FURTHER AT RISK DUE TO LABOUR DISRUPTION AT THREE OF COMPANY'S SOUTH AFRICAN OPERATIONS​.‍LIKELY BREACH OF 31 DECEMBER 2017 EBITDA COVENANT MEASUREMENT RATIOS HAS BEEN FLAGGED TO LENDER GROUP​.‍GROUP RETAINS SUFFICIENT LIQUIDITY FROM EXISTING CASH RESOURCES, OPERATING CASHFLOWS AND EXISTING FACILITIES TO MEET LIABILITIES​.  Full Article

Petra Diamonds says FY net profit after tax down 69 pct to $20.7 mln
Monday, 18 Sep 2017 

Sept 18 (Reuters) - PETRA DIAMONDS LTD ::FY REVENUE ROSE 11 PERCENT TO 477 MILLION USD.FY PRODUCTION UP 8% TO 4.0 MCTS.FY ‍ADJUSTED EBITDA DOWN 4% TO US$157.2 MILLION (FY 2016: US$164.3 MILLION)​.‍FY REVENUE UP 11% TO US$477.0 MILLION (FY 2016: US$430.9 MILLION)​.‍FY NET PROFIT AFTER TAX DOWN 69% TO US$20.7 MILLION (FY 2016: US$66.8 MILLION)​.PETRA WILL NOT DECLARE A DIVIDEND FOR FY 2017.‍REMAINS ON TRACK TO MEET PRODUCTION GUIDANCE OF 4.8 - 5.0 MCTS IN FY 2018 AND 5.0 - 5.3 MCTS BY FY 2019​.OPERATIONS AT WILLIAMSON IN TANZANIA HAVE RESUMED AFTER A FOUR DAY STOPPAGE, BUT COMPANY'S PARCEL OF DIAMONDS HAS NOT BEEN RELEASED FOR EXPORT.DISCUSSIONS WITH TANZANIAN GOVERNMENT ARE ONGOING.‍INCREASING VOLUMES TO BE REALISED AGAINST FIXED COST BASE EXPECTED TO HAVE POSITIVE IMPACT ON CO'S FINANCIAL RESULTS FOR FY 2018 AND BEYOND​.EXPECTS NET DEBT LEVELS TO START FALLING FROM H2 FY 2018, AND FREE CASHFLOW TO BE GENERATED FROM H2 FY 2018 ONWARDS.FINANCIAL RESULTS FOR YEAR NEGATIVELY IMPACTED BY DELAYED RAMP-UP OF EXPANSION PROGRAMMES, RISING ON-MINE CASH COSTS, STRONGER RAND VERSUS DOLLAR FOR YEAR.  Full Article

UPDATE 2-Petra Diamonds' core profit climbs, CEO to step down

* Adjusted EBITDA jumps in FY 2017 (Adds details, updates with comment, updates shares)