Business
Guidance Update
Guidance Update.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 3566P Petra Diamonds Limited 18 August 2014 \n \n\n \n \n \n\n\n\n\n18 August 2014\n\n\nLSE: PDL\n\n\n\n\n \n \nPetra Diamonds Limited\n(\"Petra\" or the \"Company\" or the \"Group\")\n \nGuidance Update\n \n \nPetra Diamonds Limited announces its analyst guidance for the year to 30 June 2015 (\"FY 2015\") and high level guidance for the period thereafter to FY 2019. \n \nPetra's Chief Executive, Johan Dippenaar, and Finance Director, David Abery, will host a conference call at 9:30am BST on Monday 18 August 2014 to discuss the guidance with investors and analysts - the call details can be found at the end of this announcement or visit www.petradiamonds.com. A glossary of abbreviations used can also be found at the end of this announcement.\n \nHighlights of the guidance are given below; the detailed guidance documents can be downloaded from the 'Analyst Guidance' page of Petra's website at:\nwww.petradiamonds.com/investors/analysts/analyst-guidance.\n \n \nHighlights\n· FY 2015 carat production of ca. 3.2 Mcts, an increase of ca. 3% on FY 2014 production (3.1 Mcts).\n· Consistent with previously guided mine plans, the increased contribution from undiluted ROM ore from FY 2016 onwards will accelerate the growth in carat production and Petra remains firmly on track to meet its target of ca. 5 Mcts p.a. by FY 2019.\n· Total operating costs to remain well controlled and largely in line with prior guidance.\n· Diamond prices for FY 2015 guided above actual average values achieved in FY 2014 (apart from Williamson); expectations for average prices to rise even higher in the period to FY 2019 as the growth will come from ROM production (as opposed to tailings) which will deliver higher value carats to Petra's product mix.\n· FY 2015 Capex for the South African operations of ca. ZAR1,900 million, an increase of ca. ZAR300 million (ca. 19%) against previous guidance (ZAR1,600 million, in comparable FY 2015 money terms¹), due to value accretive scope changes at Finsch and Koffiefontein - see the mine sections to follow.\n· Capex to FY 2019 remains fully funded via Company cashflows and current debt facilities; Com...