Petra Diamonds Limited (PDL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everybody, and thank you for joining us today for a discussion of Petra's half-year operating update. I have with me Johan Sneijermann, our CFO, who will take you through the financials, and Vivek Gadodia, our Chief Restructuring Officer, who will introduce elements of our restructuring plan. After taking you through our announcement, we'll open up for questions and answers. This will be hosted both verbally through the raised hand icon and we'll then move on to any typed questions moderated through the chat feature. Please note that we are recording this webcast and it will be available on our website later today. Moderator, if I could ask you to please turn to slide three. As always, I will start with safety, which is our number one priority. I'm pleased that safety improved in the second quarter, reversing an increase that took place in the first quarter, with our lost time injuries falling from 4 to 2 and the lost time injury frequency rate falling from 0.28 to 0.16. The temporary increase in quarter one mainly related to the rebasing of production at Finch to a 2.2 million ton a year operation and follows renewed efforts around improving our practices as we continue to focus on delivering a zero-harm workplace. In terms of production, we saw a marginal 2% decrease in total production from 1.43 million carats a year ago to 1.4 million carats in the first half of financial year 2025. Cullinan Mine continued to perform well on the back of an improvement in tons treated good dilution control in the sea cut and higher CC1 East grades coming through. Finch soil reduction in tons treated and carrots produced compared to H1FY 2024, largely due to the transition from continuous operations to a two-shift configuration during the first quarter, with output improvi...