Petra Diamonds Ltd.(DI) (PDL)

Sector:

Mining

Index:

FTSE Small Cap

40.60p
   
  • Change Today:
      0.58p
  • 52 Week High: 78.50
  • 52 Week Low: 37.00
  • Currency: UK Pounds
  • Shares Issued: 194.20m
  • Volume: 47,917
  • Market Cap: £78.85m
  • RiskGrade: 380

Petra sells two diamonds for initial $13.5m

By Michele Maatouk

Date: Wednesday 25 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Petra Diamonds said on Wednesday that it has sold two diamonds recovered from the Cullinan mine in South Africa into a partnership with Johannesburg-based diamond cutter and polisher Stargems, for an initial $13.5m.

The company sold a 342.92 carat Type IIa white diamond and an 18.30 carat Type IIb blue diamond. Petra will receive an upfront payment of $10m for the former and $3.5m for the latter. It will also retain a 50% interest in the profit uplift of the polished proceeds of both diamonds, after costs.

Chief executive Richard Duffy said: "These two diamonds are wonderful examples of the very high quality and rare white and blue diamonds that are so well known from the Cullinan Diamond Mine.

"We are delighted that both stones will be manufactured in South Africa and it is fitting that we will be working with Stargems, who specialise in the sourcing and supply of the finest diamonds to customers across the world."

Broker Peel Hunt said: "Given that Petra is now in position to wait for the stones to be cut and sold, we think it makes sense to partner.

"The Cullinan Dream (cut from the 2014 blue) sold for 6.3x per carat more than the rough, so while Petra are not maximising the short term cash generation, the team is maximising its long term cash generation from these specials. At a total of $13.5m raised this is slightly more than the $12m we had expected the 342ct white to sell for."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PDL Market Data

Currency UK Pounds
Share Price 40.60p
Change Today 0.58p
% Change 1.44 %
52 Week High 78.50
52 Week Low 37.00
Volume 47,917
Shares Issued 194.20m
Market Cap £78.85m
RiskGrade 380

PDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.26% below the market average0.26% below the market average0.26% below the market average0.26% below the market average0.26% below the market average
48.09% above the sector average48.09% above the sector average48.09% above the sector average48.09% above the sector average48.09% above the sector average
Price Trend
86.97% below the market average86.97% below the market average86.97% below the market average86.97% below the market average86.97% below the market average
48.25% below the sector average48.25% below the sector average48.25% below the sector average48.25% below the sector average48.25% below the sector average
Income Not Available
Growth
58.04% below the market average58.04% below the market average58.04% below the market average58.04% below the market average58.04% below the market average
59.38% below the sector average59.38% below the sector average59.38% below the sector average59.38% below the sector average59.38% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PDL Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 15-Oct-15
Paid n/a 07-Dec-15
Amount 0.000¢ 3.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 2,602 @ 40.60p
16:35 514 @ 40.60p
16:35 28 @ 40.60p
16:35 27 @ 40.60p
16:35 67 @ 40.60p

PDL Key Personnel

Finance Director Jacques Breytenbach
Chair Varda Shine
CEO Richard Duffy

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