Business
Koffiefontein stone recovery
Koffiefontein stone recovery.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n17 August 2007\n\n\n\n Petra Diamonds Limited\n\n Koffiefontein - 135.6 and 74.7 carat diamonds recovered\n\n\n\nPetra Diamonds Limited ('Petra') announces the recovery of two further\nexceptional stones from the Koffiefontein mine. The stones weigh 135.6 and 74.7\ncarats; both stones are gem quality and can be expected to realise a significant\nvalue on sale.\n\n\nThese stones are in addition to the 60.25 carat stone recently recovered which,\nas announced on 7 August 2007, was sold for US$736,000.\n\n\nPetra expects to put approximately 9,000 carats (including many stones larger\nthan 10 carats) on sale in early September, at which time these two special\nstones will also be sold. Given the average value of US$367 per carat (excluding\nthe 60.25 carat stone referred to above) achieved in the last Koffiefontein\ntender, Petra is expecting to realise substantial revenues at the September\ntender.\n\n\nAdonis Pouroulis, Chairman of Petra, commented; 'The acquisition of the\nKoffiefontein mine was only recently completed, yet the recovery within a short\ntime frame of these exceptional stones, together with the high value run of mine\nproduction, means Petra's expectations for revenue and bottom line cash flow\nfrom the mine should be substantially exceeded.'\n\n\n\n\n\nEnds\n\n\n\nFor further information, please contact:\nJustine Howarth / Louise Goodeve Telephone: +44 (0) 20 7851 7480\nParkgreen Communications, London\n\n\nAdrian Hadden / Chris Rollason Telephone: +44 (0) 20 7523 8000\nCollins Stewart, London\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]