Business
Q3 2019 Trading Update
Q3 2019 Trading Update.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 1177W Petra Diamonds Limited 15 April 2019 \n\n\n\n\n\n\n\n\n\n\n\n \n \n \nThis announcement contains inside information\n \n \n\n\n\n15 April 2019\n\n\nLSE: PDL\n\n\n\n \nPetra Diamonds Limited \n(\"Petra\", \"the Company\" or \"the Group\")\n \nTrading Update - Q3 FY 2019 Production and Sales Report\n \n \nPetra Diamonds Limited announces the following trading update (unaudited) for the three month period 1 January 2019 to 31 March 2019 (the \"Period\", \"Q3 FY 2019\" or \"Q3\") and the nine months ending 31 March 2019 (\"FY 2019 YTD\").\n \nHIGHLIGHTS\n· Lost Time Injury Frequency Rate (\"LTIFR\") for the nine months to 31 March 2019 of 0.19 (FY 2018 YTD: 0.18).\n· Q3 production of 924,228 carats (Q3 FY 2018: 992,315 carats), reflecting increased production at Cullinan, Koffiefontein and Williamson, offset by lower production at Finsch. \n· Production for the nine months to 31 March 2019 up 4% to 2,943,374 carats (FY 2018 YTD: 2,836,272 carats). \n· Production guidance of 3.8 - 4.0 million carats for FY 2019 maintained. \n· Installation of the remaining draw points across the footprint of the C-Cut Phase 1 block cave at Cullinan is progressing as planned, with completion expected during H1 FY 2020.\n· With the progression across the C-Cut footprint, the incidence of larger stones is improving as demonstrated by the recovery of two +100 carats gem-quality stones during the Period.\n· The 425.1 carat D colour Type II gem quality diamond recovered at Cullinan on 29 March 2019, is expected to be sold during Q4 FY 2019 as previously announced.\n· Q3 revenue decreased 7% to US$135.2 million due to a 6% reduction in sales volumes to 1,061,343 carats sold (Q3 FY 2018: US$145.7 million from 1,131,262 carats sold). \n· Revenue for the nine months to 31 March 2019 up 1% to US$342.4 million from 2,797,700 carats sold (Q3 FY 2018 YTD: US$337.4 million from 2,641,720 carats sold). \n· Rough diamond prices achieved during the two tenders in Q3 up ca. 1% on a like-for-like basis compared to prices achieved in H1 FY 2019.\n...