Petra Diamonds Share Discussion Threads

[ukgeorge] 04/10/2018 17:25

Hopefully when a new CEO is appointed the sentiment improves.

[ukgeorge] 04/10/2018 14:04

g2theary which year? :)

35p is sadly more likely

[jonnynitro] 04/10/2018 13:13

I could cope with that ;-)

[g2theary] 04/10/2018 12:34

I feel this will be back above the 55p before Christmas...

[ukgeorge] 03/10/2018 11:45

Acacia is having a pretty good bounce at the moment may be just may be the tanzania debacle is getting sorted.

[argylerich] 01/10/2018 19:30

That was a kick!

[ukgeorge] 01/10/2018 15:11

I wonder if the half wits running this shambles managed to hedge any of the currency.

[ukgeorge] 28/9/2018 08:45

Maybe next week :)

[matt123d] 25/9/2018 21:21

Shouldn't be much resistance in this area but proving a slight sticking point, 44-47p the next zone once through this 39p area.

[ukgeorge] 25/9/2018 10:26

The disgruntled sellers had to run out at some point :) Fingers crossed that doesn't put commentators curse on it. Fundamentals are much improved thanks to the rands fall. New management at long last. Mines finally ramping up. Lets be kind and say more streamlined after they sell the kem jv. Add in roumor that the diamond parcel might get released. (Might be a box of broken glass now) a few positives for the months ahead.

[argylerich] 25/9/2018 09:39

Hardly any 'buys' this morning but price still up.... interesting!

[argylerich] 20/9/2018 13:01

Someone is still selling away, but there's been no increases by the current declared shorters in the last few days. For all that is being sold, they're slowly being hoovered up.

[ukgeorge] 20/9/2018 12:26

looking purely at the chart and my tea leaves....

On the candle stick seems to be making a nice continuation pattern. Suggesting a five pence or so rice if it breaks out.

[ukgeorge] 20/9/2018 10:08

obviously didn't pay them enough....

[argylerich] 20/9/2018 08:38

Berenberg initiate coverage with a bold 40p Hold ;-)

[ukgeorge] 19/9/2018 12:13

hopefully just consolidating before going after 40p after that the next stop should be 45p

[tomatoma2] 18/9/2018 17:27

Target price 70p

[ukgeorge] 18/9/2018 12:18

Opportunities like this is what I love about the stock market. Sure you have to be on the ball and ready to sell out at a loss when they announce things like a rights issue. But then let the dust settle, and you were able to buy under the rights issue price by at times near 20%.

Added to this the rand was falling improving the outlook for the company.

Fingers crossed that whoever they bring in is capable and does not wan to go off buying anything or has any wild capital expenditure plans.

I want petra to be very boring, reducing capex, debt and producing at steady state.

Also headging the rand is a welcome announcement.

50p or 60p would be great 70p might take a couple of years and for some of the above to be met

[ukgeorge] 18/9/2018 11:18

Fingers crossed for a close over 40p this week.

[argylerich] 18/9/2018 08:33

Citigroup upgrade to Buy, price target 70p

[ukgeorge] 17/9/2018 16:19

From SPAngel

Petra Diamonds (PDL LN) 38.28p, Mkt Cap £331.3m – Annual results
• Petra Diamonds reports a loss of US$203.1m for the year ending 30th June 2018 (2017 – profit of US$20.7m). The result reflects a loss of US$104.3m on the discontinued operation at the KEM joint-venture as well as a previously announced US$66m impairment charge against the Koffiefontein mine.
• The company, however, highlights the 37% increase in adjusted EBITDA to US$195.4m (2017 – US$142.6m) and the 25% increase in revenue to US$495.3m (2017 US$394.8m).
• The adjusted operating cash flow rose by 7% to US$157.0m (2017 – US$147.0m) “despite the negative impact of the blocked Williamson parcel and overdue VAT receivables in Tanzania.”
• Petra Diamonds notes that, towards the end of the financial year operational improvements became apparent at Koffiefontein “as a result of the commissioning of the new ground handling system in Q3 FY 2018” and that, with these improvements continuing so far this financial year, “We believe that we have now put the right conditions in place for this mine to start making a positive contribution to the Group in the current financial year”.
• The rationalisation of the operating portfolio has seen the disposal of the KEM joint-venture to the sole ownership of Ekapa Mining “thereby ensuring its sustainable future, under the stewardship of an operator best suited to maximise its value”.
• Net debt fell to US$518.8m at 30th June 2018 (30th June 2017 – US$553.4m) with the cash component representing US$236.0m (2017 – US$203.7m).
• Commenting on the results, CEO, Johan Dippenaar, pointed out that “FY 2018 yielded good operational results, the highest on record to date, in spite of the challenges experienced in FY 2017 and H1 FY 2018, and this was underpinned by strong safety performance across the Group.”
• Petra Diamonds explained that the “diamond market was stable throughout FY 2018, though subject to normal seasonal fluctuations in pricing, with Petra's prices on a like-for-like basis were up ca. 2% for the Year, compared to FY 2017. … The start of FY 2019 saw typical seasonal weakness during Petra's first tender of the year with prices down ca. 5% on a like-for-like basis, compared with H2 FY 2018, mainly due to softer prices in smaller size ranges. The Company expects the diamond market to be broadly stable during FY 2019.”


Conclusion: Petra Diamonds has rationalised its operating portfolio with the disposal of KEM and the improvements at Koffiefontein we look forward to the fruits of the strategy in FY 2019

[argylerich] 17/9/2018 14:00

The last 3 trading days have seen a positive push when the yanks have opened... I wonder what we'll see today.
....A slimmed down Petra...no debt...churning out divis...we can but dream :-)

[ukgeorge] 17/9/2018 13:00

Thanks Argyle, sub 40p was a great buying opportunity. Roll on the company reducing debt.

I would not be surprised to see them sell Koffiefontein