Business
REPLACEMENT: FY'18 Trading Update & FY'19 Guidance
REPLACEMENT: FY'18 Trading Update & FY'19 Guidance.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 4562V Petra Diamonds Limited 23 July 2018 \n\n \n \n \n \nThe following replaces the announcement issued by Petra Diamonds Limited at 7am BST this morning, further to the changes below:\n \nFY 2019 Guidance Highlights - Outlook for FY 2019 Absolute Costs: \n· Total FY 2019 absolute on-mine cash costs are expected to remain largely flat compared to FY 2018 expected costs in ZAR local currency, \"notwithstanding an increase in overall tonnages and inflationary increases.\" (previously said \"with the decrease in overall tonnage throughput offset by inflationary increases.\")\n \nCullinan - FY 2018 Results:\n· Production increased 74% to 1,368,720 carats (FY 2017: 786,509 carats) mainly due to a 97% increase in ROM carat production as the new C-Cut Phase 1 block cave continued to ramp up and the new plant operated at planned throughput rates. Production from the undiluted C-Cut mining areas (including CC1E) increased to \"ca. 2.46 Mt in FY 2018\" (previously said \"ca. 2 Mt in FY 2018\").\n \n\n\n\n23 July 2018\n\n\n LSE: PDL\n\n\n\n \nPetra Diamonds Limited\n(\"Petra\" or the \"Company\" or the \"Group\")\n \nFY 2018 Trading Update and FY 2019 Guidance Update\n \n \nPetra Diamonds Limited announces its Trading Update (unaudited) for the year ended 30 June 2018 (the \"Year\" or \"FY 2018\"), ahead of its preliminary results for the Year (\"Prelim Results\"), which will be released on 17 September 2018. \n \nThe Company also announces updated analyst guidance for the year to 30 June 2019 (\"FY 2019\").\n \nFurther to the announcement on 5 July 2018 that the Company and its black economic empowerment (\"BEE\") partners have entered into binding Heads of Agreement to dispose of their interest in the Kimberley Ekapa Mining Joint Venture (\"KEM JV\"), results and guidance have been disclosed both with and without the inclusion of this business unit; the divestment is expected to complete before the end of September 2018.\n \n \nFY 2018 HIGHLIGHTS\n· Safety:\no Lost Time Injury Frequency Rate (\"LTIFR\") improved to 0.23 (FY 2017: 0.27).\n· Production:\no Production up 15% to 4.6 Mcts (FY 2017: 4.0 Mcts), in line with guidance of 4.6 t...