Business
Reserve & Resource Increase
Reserve & Resource Increase.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n08 October 2007\n\n\n\nFor release 8 October 2007 AIM: PDL\n\n\n Petra Diamonds Limited\n\n\n South Africa - substantial increase in Reserves and Resources\n\n\nPetra Diamonds ('Petra' or 'the Company' or 'the Group') announces an updated\nstatement of the Group's South African reserves and resources. The statement has\nbeen prepared in accordance with JORC and is in respect of the Koffiefontein,\nHelam, Sedibeng and Star mines.\n\n\nHighlights\n\n • Updated carat base of 9.33 million carats attributable (11.38 million\n carats gross), an increase of 101% on previous statement (May 2005: 4.64\n million carats attributable)\n\n • In-situ value of US$1.5 billion attributable (US$1.9 billion gross)\n\n • JORC compliant attributable reserves increase 66% to 2.95 million carats\n (May 2005: 1.77m carats)\n\n • JORC compliant attributable resources increase 123% to 6.38 million carats\n (May 2005: 2.86m carats)\n\n • Increase due to the acquisition of Koffiefontein and additional kimberlite\n fissure units included in the total mineral resource\n\n\n\n SUMMARY OF ATTRIBUTABLE RESERVES AND RESOURCES\n\n COMBINED SOUTH AFRICAN OPERATIONS\n\n Contained Contained\n Tonnes Grade Diamonds Diamonds May\nCategory October 2007 October 2007 October 2007 2005\n (millions) (cpht) (millions) (millions)\nOre/Diamond reserves\nProven 18.397 8.3 1.524 0.558\nProbable 1.993 71.3 1.422 1.217\nSub-total 20.390 14.5 2.946 1.775\nDiamond resources\nMeasured 40.674 2.9 1.169 -\n *\nIndicated 12.774 9.5 1.218 -\n *\nInferred 31.036 12.9 3.994 2.864\nSub-total 84.484 7.6 6.381 2.864\nTotal 104.874 8.9 9.327 4.639\n\n* Refer to Note 4 below regarding the treatment of measured and indicated\nresources of the fissure mines.\n\n\nThe resource statement, in compliance with the AIM Guidance for Mining\nCompanies, is shown below in total for the Group's South African operations and\nthen shown split out as to Koffiefontein and the fissure mines (Helam, Sedibeng\nand Star combined). This statement does not include any contribution from\nKimberley Underground which will only form part of Petra's assets when the\nconditions in the corresponding acquisition agreement are met.\n\n\nSUMMARY OF RESERVES AND RESOURCES BY STATUS - COMBINED SOUTH AFRICAN OPERATIONS\n\nCategory Gross Net attributable Operator\n\n Tonnes Grade Contained Tonnes G...