Petra Diamonds Limited Recovery of 209.9 carat stone at Cullinan (6736W)
18 April 2019 - 11:32PM
UK Regulatory
TIDMPDL
RNS Number : 6736W
Petra Diamonds Limited
18 April 2019
18 April 2019 LSE: PDL
Petra Diamonds Limited
("Petra," the "Company" or the "Group")
Notification of Recovery of 209.9 carat Type II white stone at
Cullinan Diamond Mine
Petra Diamonds Limited is pleased to confirm that it has today
recovered a 209.9 carat D colour Type II gem quality diamond at its
Cullinan Diamond Mine.
This is the third +100ct Type II D colour gem quality diamond
recovered since March 2019, and the fourth such stone in the
current financial year.
Today's recovery again demonstrates the prevalence of these
types of stones in the Cullinan orebody, with an improved incidence
of large and high-value stones as the C-Cut Phase 1 block cave
progresses across the footprint, and the ability of the mine's
plant to recover the full spectrum of diamonds. The stone is
expected to be sold during the fourth quarter ending 30 June
2019.
The Company has also confirmed today that 'The Legacy', the
exceptional 425 carat D colour Type II A diamond recovered from the
Cullinan mine on 29 March 2019, together with this stone, will be
offered for sale during the course of the Company's next sales
cycle in South Africa. Appointments to view these stones in
Johannesburg can be made by contacting the Company's Head of Sales
and Marketing, Greg Stephenson
(greg.stephenson@petradiamonds.com).
Photos of the 209.9 carat stone can be found at
www.petradiamonds.com/media/image-library/diamonds.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Marianna Bowes investorrelations@petradiamonds.com
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse pdl@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
a consistent supplier of gem quality rough diamonds to the
international market. The Company has a diversified portfolio
incorporating interests in three underground producing mines in
South Africa (Finsch, Cullinan and Koffiefontein) and one open pit
producing mine in Tanzania (Williamson). It also maintains an
exploration programme in Botswana and South Africa, which is
currently under review.
Petra's strategy is to focus on value rather than volume
production by optimising recoveries from its high quality asset
base in order to maximise their efficiency and profitability. The
Group has a significant resource base of ca. 290 million carats,
which supports the potential for long-life operations.
Petra conducts all operations according to the highest ethical
standards and will only operate in countries which are members of
the Kimberley Process. The Company aims to generate tangible value
for each of its stakeholders, thereby contributing to the
socio-economic development of its host countries and supporting
long-term sustainable operations to the benefit of its employees,
partners and communities. Petra is quoted with a premium listing on
the Main Market of the London Stock Exchange under the ticker 'PDL'
and is a constituent of the FTSE4Good Index. For more information,
visit www.petradiamonds.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCXVLFFKZFLBBK
(END) Dow Jones Newswires
April 18, 2019 09:32 ET (13:32 GMT)
Petra Diamonds (LSE:PDL)
Historical Stock Chart
From Apr 2024 to May 2024
Petra Diamonds (LSE:PDL)
Historical Stock Chart
From May 2023 to May 2024