Business
2nd Quarter Results
2nd Quarter Results.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n01 February 2007\n\n\n PETRA DIAMONDS LIMITED\n\n QUARTERLY ACTIVITIES REPORT\n FOR THE THREE MONTH PERIOD ENDED\n 31 December 2006\n\n (dateline 31 January 2007)\n\n\nPetra Diamonds Limited ('Petra' or 'the Company' or 'the Group'), the AIM-quoted\nand ASX-listed diamond mining group (AIM and ASX: PDL), announces its quarterly\nactivities report (unaudited) for the three month period ended 31 December 2006.\n\nHighlights\n\n • Trading overview - the revenue of US$8.2 million for the six months to\n December 2006 is marginally below management expectations due to weaker\n prices during the quarter; revenue in the six months to June 2007 is\n expected to be substantially higher due to:\n\n (i) a significant contribution from the Koffiefontein mine, which will \n commence operations shortly; and\n\n (ii) higher contributions from both Star and Sedibeng following the \n commissioning of new treatment and recovery plants for both \n operations in December 2006 and March 2007 respectively; and\n\n (iii) a recovery in diamond prices as seen from the January 2007 tender\n\n • Alto Cuilo, Angola - large diameter drilling operations continue in\n advance of plant treatment; 73 kimberlites now identified; first\n microdiamond results from drill cores sent for external specialist analysis\n have given encouraging microdiamond counts; analysis of drill core continues\n to give encouraging diamond indicator mineral chemistry ('minchem') results\n • Botswana -a 600 metre diameter negative gravity anomaly has been revealed\n by gravity data in the Kukama project area, over a previous identified\n kimberlite that returned a grade of 9.6 carats per hundred tonnes\n • Kono project, Sierra Leone - encouraging diamond recoveries from mini\n samples of 443 diamonds totaling 43.03 carats\n • South Africa - Petra announces acquisition of Koffiefontein mining and\n associated assets from De Beers and grant of mining licence in respect of\n the mine; production from the other South African mines increased to 36,326\n carats for the quarter (quarter to September 2006: 35,602 carats)\n • Corporate - Petra acquires Calibrated Diamonds, giving the Company the\n ability to cut and polish its own production and significantly enhance\n revenues; Ken Axsel, formerly Country Head South Africa - International\n Diamond and Jewell...