PETRA DIAMONDS LIMITED (PDL) — Final Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the PETRA DIAMONDS LIMITED investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and can be submitted at any time via the q and a tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question that receives during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll, and I'd now like to hand you over to Richard Duffy, CEO. Good afternoon, sir. Hello, everybody, and thank you for joining us today for a discussion of our audited full year results for the twelve months ended 06/30/2024. I'm Richard Duffy, CEO of PETRA DIAMONDS LIMITED, JR. BREITENBACH, our CFO, who will cover the key financial metrics. After taking you through our announcement, we'll open up for Q and A. We have also today released our annual reporting financial statements as well as our sustainability report. Moderator could ask you to please move us to slide four. I start today's presentation with a slide you may recall from our Investor Day in June, where we set out the resilience built into the business and PETRA's compelling value proposition. In financial year 2024, in response to weaker diamond prices, we reduced our operating cost base by around $19,000,000 and CapEx by approximately $80,000,000 for the year, which included some $75,000,000 in deferrals. From financial year 2025 onwards, operating costs will be sustainably reduced by around $44,000,000 per annum relative to the guidance we issued for FY 2025 in July 2023. And from FY 2025, we have smoothed futu...