Business
Final sales results for Tender 4 FY 2024
Final sales results for Tender 4 FY 2024.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n\n\n\n\n\n\n16 February 2024\n\n\nLSE: PDL\n\n\n\n\n \nPetra Diamonds Limited\n(\"Petra\" or \"the Company\")\n \nFinal sales results for Tender 4 FY 2024\n \nThe Company today announces the sales results of its fourth tender cycle of FY 2024 in which 428.9kcts were sold for US$47.8 million, a 4.0% increase in like-for-like[1] prices compared to Tender 3 FY 2024 which closed in December 2023.\n \nThese results exclude a 14.76ct exceptional colour and clarity blue gemstone recovered from the Cullinan Mine which the Company intends to sell on a standalone tender basis expected to close towards the end of this month.\n \nRough diamond sales results for the respective periods are set out below1:\n \n\n\n\n\n\n\n\nTender 4\nFY 2024\nFeb-24\n\n\nTender 3\nFY 2024\nDec-23\n\n\nVariance\n \n\n\nTender 4\nFY 2023\nFeb-23\n\n\nYTD\nFY 2024\nTenders 1-4\n \n\n\nYTD\nFY 2023\nTenders 1-4\n\n\n\n\nDiamonds sold (carats)\n\n\n428,860\n\n\n519,397\n\n\n-17%\n\n\n505,398\n\n\n2,088,481\n\n\n1,778,051\n\n\n\n\nSales (US$ million)\n\n\n47.8\n\n\n67.9\n\n\n-30%\n\n\n72.1\n\n\n235.6\n\n\n278.5\n\n\n\n\nAverage price (US$/ct)\n\n\n112\n\n\n131\n\n\n-15%\n\n\n143\n\n\n113\n\n\n157\n\n\n\n\nRevenue from Exceptional Stones2 (US$ million)\n\n\n0.0\n\n\n0.0\n\n\nn.a.\n\n\n0.0\n\n\n0.0\n\n\n0.0\n\n\n\n\nNote 1: Excludes all Koffiefontein sales results since it has been classified as a discontinued operation in the Group's FY 2023 accounts.\nNote 2: Exceptional Stones are defined as rough diamonds for US$15 million or more each.\n \nSales\nTotal revenue YTD FY 2024 from rough diamond sales is US$235.6 million, compared to US$278.5 million in the first four tenders of FY 2023, excluding Koffiefontein. Year-on-year volume variances were affected by the deferral of certain FY 2023 sale parcels sold as part of Tender 1 of FY 2024.\n \nMine by mine average prices for the respective periods are set out in the table below:\n \n\n\n\n\nUS$/carat\n\n\nTender 4\nFY 2024\nFeb-24\n\n\nTender 3\nFY 2024\nDec-23\n\n\nYTD FY 2024\nTenders 1-4\n \n\n\nYTD FY 2023\nTenders 1-4\n \n\n\nFY 2023\n \n\n\n\n\nCullinan Mine\n\n\n98\n\n\n139\n\n\n109\n\n\n154\n\n\n139\n\n\n\n\nFinsch\n\n\n101\n\n\n91\n\n\n100\n\n\n121\n\n\n110\n\n\n\n\nWilliamson\n\n\n220\n\n\n201\n\n\n207\n\n\n280\n\n\n280\n\n\n\n\n \nL...