Petra Diamonds Q4 FY 2022 and FY 2022 Trading Update

 
TIDMPDL 
 
19 July 2022                                                                                                                LSE: PDL 
 
                 Petra's Q4 FY 2022 and FY 2022 Trading Update 
 
Strong revenue growth and continued improvement in balance sheet 
 
Petra announces its unaudited Trading Update for the fourth quarter ("Quarter" 
or "Q4 FY 2022") and financial year ending 30 June 2022 ("Year" or "FY 2022"). 
Petra will host calls at 09:30 and 16:00 BST today, details of which can be 
found at the end of this statement. 
 
Richard Duffy, Chief Executive Officer of Petra, commented: 
 
"This year's performance completes the successful turnaround of Petra and 
includes the implementation of our new operating model, incorporating 
continuous improvement, following the conclusion of Project 2022 which has 
delivered improved efficiency, capital discipline and strong cash generation. 
Progress on these fundamentals has enabled us to expand our focus to executing 
our value-led growth strategy, including the two projects at Cullinan Mine and 
Finsch, while incorporating our recently developed sustainability framework. 
 
"We continued to deliver safe, robust operating performance into the fourth 
quarter, recovering over 3.35Mcts for the year, in line with guidance, while 
reducing our LTIFR by 52%. Total revenue increased to US$585.2 million, 
benefiting from a combination of supportive diamond market fundamentals and a 
41.5% increase in like-for-like diamond prices year on year, the reopening of 
the Williamson mine and the recovery and sale of US$89.1 million of Exceptional 
Stones. The subsequent strong free cash flow generated in FY 2022 highlights 
the successful conclusion of Project 2022 and has delivered an 82% reduction in 
Consolidated Net Debt to US$40.6 million. 
 
"We reaffirm our production and cost guidance through to FY 2025. An increase 
in the lead-time for some capital items will shift some FY 2022 capex to FY 
2023 with no expected impact on the anticipated project timing or overall capex 
spend. We are monitoring cost increases in our operations very closely, but our 
relatively low fuel consumption, disciplined cost management, three-year labour 
agreements to June 2024 and exposure to a weaker South African Rand will assist 
us in better absorbing these cost pressures. Petra's enhanced operating model 
provides a platform for greater stability and resilience, enabling further cash 
generation to fund our capex requirements and support further deleveraging." 
 
HIGHLIGHTS 
 
Improved safety, production and sales 
 
                    Unit            Q4        Q4 Variance     FY 22    FY 211  Variance 
                                 FY 22     FY 21 
 
LTIFR               -             0.28      0.35      20%      0.21      0.44       52% 
 
LTIs                Number           5         5        -        14        25       44% 
 
Ore processed       Mt             3.1       2.0      55%      11.7       8.1       44% 
 
Diamonds recovered  Carats     745,790   794,952     (6%) 3,353,670 3,240,312        3% 
 
Diamonds sold       Carats   1,205,240 1,178,474       2% 3,536,316 3,960,475     (11%) 
 
Revenue from        US$m         178.8     122.8      46%     584.1     406.9       44% 
diamond sales 
 
Note 1:   For comparative purposes the FY 21 production and revenue figures 
have been restated to include Williamson as it is no longer a discontinued 
operation 
 
Strong revenue growth with improved safety 
 
  * LTIFR improved 20% to 0.28 for the Quarter and 52% to 0.21 for the Year 
  * LTIs flat for the Quarter at 5 and improved 44% to 14 for the Year 
  * Production for the Quarter was down 6% to 745,790 carats largely due to 
    lower tonnes treated at Cullinan Mine following depletion of the current 
    CC1E mining area and the makeup of kimberlite in the C-Cut, while 
    production for the Year increased 3% to 3,353,670 carats, largely owing to 
    the resumption of mining at Williamson 
  * FY 2022 total revenue amounted to US$585.2 million (FY 2021: US$406.9 
    million), comprising revenue from diamond sales of US$584.1 million (FY 
    2021: US$406.9 million) and additional revenue from profit share agreements 
    of US$1.1 million (FY 2021: nil) 
  * FY 2022 revenue from diamond sales 44% higher at US$584.1 million driven 
    by: 
      + Improved rough diamond market fundamentals, with like-for-like prices 
        increasing 41.5% compared to FY 2021 as a result of record jewellery 
        retail demand out of the US following the easing of COVID-19 
        restrictions 
      + The sale of a high number of Exceptional Stones[1] recovered from 
        Cullinan Mine and one from Williamson which contributed a record 
        US$89.1 million compared to US$62.0 million in FY 2021; this compares 
        to an average contribution from Exceptional Stones of US$50.7 million 
        and US$39.2 million over 3 and 5 years, respectively 
  * During the Quarter, polished stones cut from the 18.30ct Type II blue 
    partnership stone were sold, with the most notable stone being a 7.09ct 
    radiant cut stone which sold for US$5.8 million. Petra sold the 18.30ct 
    rough diamond in August 2021 into a partnership for US$3.5 million, while 
    retaining a 50% share of profits. The final polished stones realised a net 
    profit to the partnership of US$2.13 million, contributing additional 
    revenue of US$1.065 million for Petra's 50% profit share recognised in Q4 
    FY 2022 and FY 2022 
 
Balance sheet further strengthened 
 
  * Balance Sheet as at 30 June 2022: 
      + Consolidated net debt[2] of US$40.6 million (31 March 2022: US$107.0 
        million), reflecting strong free cash flow generation over the Quarter 
      + Gross cash of US$288.2 million (31 March 2022: US$249.2 million) and 
        unrestricted cash of US$271.9 million (31 March 2022: US$233.2 million) 
 
Diamond debtors and inventory 
 
  * Diamond debtors of US$37.4 million (31 March 2022: US$nil) with the 
    increase reflecting the timing of Tender 6 at the end of the Year. The 
    outstanding debtor balances were received shortly after year-end 
  * Diamond inventory valued at US$53.5 million (31 March 2022: US$98.1 
    million) 
 
Production and cost guidance reiterated 
 
Key operational guidance 
 
                                 Unit      FY 22      FY 23E     FY 24E    FY 25E 
 
Total carats recovered           Mcts    3.3 - 3.6  3.3 - 3.6  3.3 - 3.6  3.6 - 3.9 
 
Cash on-mine costs and G&A1      US$m    300 - 310  300 - 320  300 - 320  300 - 320 
 
Expansion capex1                 US$m     34 - 36   115 - 125  125 - 135  115 - 120 
 
Sustaining capex1                US$m     17 - 19    33 - 36    30 - 32    26 - 28 
 
Note 1: Opex and Capex guidance is stated in FY 22 real terms and based on an 
exchange rate of ZAR15 / USD1. 
 
More detailed guidance is available on Petra's website at https:// 
www.petradiamonds.com/investors/analysts/analyst-guidance/ 
 
  * Petra reiterates the detailed guidance provided for the FY 2023 to FY 2025 
    period 
  * Delivery of certain capital items planned for FY 2022 was deferred largely 
    due to increased lead-times. As a result, around US$12 million of capex 
    that was due to be incurred in FY 2022 is now expected to be incurred in FY 
    2023. A corresponding adjustment has been made to expansion and sustaining 
    capex guidance for FY 2023 with no expected impact on the anticipated 
    project timing or overall capex spend 
 
Outlook 
 
The operational improvements we have made provide a platform for greater 
stability and resilience, enabling further cash generation to fund capex and 
supporting further deleveraging. 
 
We closely monitor the current macro-economic uncertainties, particularly the 
impact of inflation on our cost base, the war in Ukraine and sanctions on 
Russian producers, as well as the ongoing implications of COVID-19. The 
backdrop of structural changes to the supply and demand fundamentals in the 
diamond market remains unchanged and we anticipate it to remain supportive 
going forward, although there may be some volatility in the short to medium 
term. 
 
CONFERENCE CALLS 
 
09:30 and 16:00 BST today 
 
Petra's Chief Executive, Richard Duffy, and Chief Financial Officer, Jacques 
Breytenbach, will host calls today to discuss this trading update at 09:30 and 
16:00 BST. 
 
Registration for calls: 
 
United Kingdom                0800 640 6441 
 
United Kingdom (Local)    020 3936 2999 
 
United States (Local)         1 646 664 1960 
 
All other locations            [phone] 
 
09:30:  Access code:         763203 
 
16:00:  Access code:         834604 
 
Press *1 to ask a question, *2 to withdraw your question, or *0 for operator 
assistance. 
 
Link for recording (available later today): 
 
https://www.petradiamonds.com/investors/results-reports/ 
 
FURTHER INFORMATION 
 
Please contact 
 
Petra Diamonds, London 
Telephone: [phone] 
 
Jill Sherratt 
            [e-mail] 
 
Patrick Pittaway 
 
Julia Stone 
 
REVIEW 
 
Q4 and FY 2022 production and sales summary 
 
                    Unit        Q4        Q4  Variance     FY 22     FY 21  Variance 
                             FY 22     FY 21 
 
Sales 
 
Diamonds sold     Carats 1,205,240 1,178,474       +2% 3,536,316 3,960,475      -11% 
 
Revenue             US$m     178.8     122.8      +46%     584.1     406.9      +44% 
 
Contribution        US$m       5.7       9.5      -40%      89.1      62.0      +44% 
from Exceptional 
Stones 
 
Production 
 
ROM tonnes            Mt       3.0       1.9      +58%      11.3       7.7      +47% 
 
Tailings & other      Mt       0.1       0.1         -       0.4       0.4         - 
tonnes 
 
Total tonnes          Mt       3.1       2.0      +55%      11.7       8.1      +44% 
treated 
 
ROM diamonds      Carats   717,373   756,553       -5% 3,148,258 3,057,860       +3% 
 
Tailings & other  Carats    28,417    38,399      -26%   205,412   182,452      +13% 
diamonds 
 

Total diamonds    Carats   746,790   794,952       -6% 3,353,670 3,240,312       +3% 
 
Strong revenue growth in a robust diamond market 
 
The 44% growth in revenue from diamond sales to US$584.1 million for FY 2022 
(FY 2021: US$406.9 million) was driven in part by the increased number of 
Exceptional Stones sold, totalling US$89.1 million (FY 2021: US$62.0 million). 
Revenue also benefited from a 41.5% increase in like-for-like diamond prices in 
FY 2022. 
 
Production benefiting from operational improvements and good safety performance 
 
 
Health and safety 
 
Petra continued to improve safety performance through remedial actions and 
behaviour-based intervention programmes and the Lost Time Injury Frequency Rate 
(LTIFR) decreased 52% to 0.21 for the year (FY 2021: 0.44). Lost Time Injuries 
(LTIs) were of low severity and mostly behavioural in nature and Petra 
continues to target a zero-harm working environment. 
 
Petra has implemented systems and strategies across all of its operations aimed 
at preventing and 
 
containing the spread of COVID-19 and continues its roll-out of vaccinations 
for employees. In South Africa, 64% of the workforce have received 
vaccinations, while at Williamson 15% of the workforce have been vaccinated. 
 
Production and operations 
 
FY 2022 production was in line with guidance, totalling 3,353,670 carats (FY 
2021: 3,240,312 carats). The number of carats sold reduced by some 11% compared 
to FY 2021 when significantly higher volumes were sold, mostly off-tender, 
following the inventory build-up witnessed late in FY 2020 after the initial 
COVID-19 outbreak. 
 
Cullinan Mine continued its robust performance through FY 2022. Whilst the Q4 
FY 2022 ROM production at Cullinan Mine was largely in-line with the previous 
quarter, diamonds produced were 22% below the very strong Q4 FY 2021. This is 
attributable to a lower ROM grade resulting from the higher grade CC1E not 
contributing to Q4 FY 2022 production and a change in the ore make-up of the 
C-Cut block cave footprint as the production progresses from SW to NE due to 
cave maturity. However, production guidance for FY 2023 to FY 2025 remains 
unchanged. 
 
Whilst the previously reported waste ingress at Finsch has been largely 
mitigated through the implementation of enhanced drill and blast and draw 
controls, this requires continuous management. This saw steady production 
between Q3 and Q4 of FY 2022, with some reduction in ROM grade. The 24% 
reduction in Q4 FY 2022 ROM grade against Q4 FY 2021 is largely attributed to 
the significantly lower levels of ROM tonnes mined introduced in Q4 FY 2021 to 
manage the waste ingress and improve grade. As previously mentioned we are 
implementing the Business Re-engineering (BRE) Project at Finsch to match our 
cost base to our revised production levels. 
 
The BRE Project at Koffiefontein, which is independent of the disposal process 
mentioned below, aims to provide for sustainable operations until the mine's 
closure and has resulted in a labour reduction process to align the operation 
with the reduced tonnage profile. This process was concluded and the mine 
started on a new shift configuration with the reduced labour structure on 30 
June 2022. 
 
Production includes Williamson's throughput, having resumed production in the 
first half of the year after an 18-month period of care and maintenance since 
April 2020. 
 
The recent increase in load shedding in South Africa is currently having 
minimal impact on our operations. Our excess processing capacity at both 
Cullinan Mine and Finsch allows us to reduce our processing energy draw to meet 
the prescribed load curtailment requirements whilst maintaining mining at full 
production and catching up on processing when conditions return to normal. 
 
Project 2022 has significantly exceeded its target of delivering over 
US$100-150 million in net free cashflow between July 2019 and June 2022. 
Current indications are that we have generated in excess of US$200 million of 
net free cashflow. More importantly, the initiatives are now fully embedded in 
our operating model to ensure that throughput, operational and capital cost 
efficiencies and organisational design benefits are part of our culture of 
continuous improvement. Although Project 2022 is now concluded, we expect to 
continue to deliver improvements. 
 
The diamond market 
 
Despite significant global economic uncertainties resulting from the war in 
Ukraine, like-for-like rough diamond prices increased 41.5% for the full year 
to 30 June 2022, driven in particular by record jewellery retail demand in the 
US. The most recent tender in June highlighted the strength of demand across 
Petra's product mix, both in white and coloured gem-quality stones, with some 
increased demand for smaller diamonds. This growth in demand is driven by 
mid-stream inventory restocking and continued strong jewellery retail sales 
associated with a delayed wedding boom and a growing trend in diamonds being 
given as meaningful gifts post COVID-19. While the diamond market is strong, 
macroeconomic uncertainties caused by the rise in inflation are a potential 
dampener of demand. 
 
Strategic updates on Williamson Mine and Koffiefontein Mine 
 
Williamson 
 
As previously announced, the Framework Agreement between Petra and the 
Government of Tanzania will become effective after a number of conditions are 
satisfied, including obtaining various government approvals. The agreement, 
which will result in the reduction of Petra's indirect shareholding in 
Williamson Diamonds Limited (WDL) from 75% to 63% and establish a sustainable 
future for Williamson, is progressing and is now expected to become effective 
in the first half of FY 2023. 
 
Petra expects to further reduce its indirect shareholding in WDL from 63% to 
31.5% via a sale to Caspian Limited but with Petra retaining a controlling 
interest in WDL. The transaction remains subject to the parties first agreeing 
definitive transaction agreements and then obtaining all necessary government, 
regulatory and lender approvals which are also expected to be obtained in the 
first half of FY 2023. 
 
These agreements are in line with Petra's objective of reducing its exposure in 
Tanzania while retaining control and sharing in the upside. 
 
Koffiefontein 
 
In April, it was announced that Petra is seeking a responsible exit from its 
investment in Koffiefontein.  Petra has received non-binding, expressions of 
interest from several interested parties which it is in the process of 
evaluating. 
 
In the event that a suitable buyer is not identified through this disposal 
process, Petra remains committed to operate the mine responsibly in accordance 
with its current life of mine plan, before proceeding with a decommissioning, 
rehabilitation and closure programme. 
 
Update on the Independent Grievance Mechanism and community projects at 
Williamson 
 
Petra has implemented remedial programmes and initiatives and is establishing 
the Independent Grievance Mechanism (IGM) to address the historical allegations 
of human rights abuses at Williamson. Engagements with the Government of 
Tanzania and local stakeholders on the IGM are due to be completed in the 
coming weeks and the focus will then shift to appointing the various organs 
that will make up the IGM, with the current target for the IGM to become 
operational remaining Q4 of CY 2022. 
 
A number of other initiatives are being put in place to provide sustainable 
benefits to the communities located close to the mine funded by the one million 
pounds escrow account established by Petra. Having completed all planned 
activities in Q1 CY 2022, the Gender Based Violence initiative is now looking 
to implement various community action plans once they have been reviewed by the 
District Commissioner.  The medical services project has been expanded to 
provide further services (beyond physiotherapy). Feasibility studies for income 
generating projects (agriculture businesses and artisanal mining) are also 
progressing and a radio programme to improve awareness and understanding of the 
IGM and community projects amongst the local community has been set up. 
 
More information on the IGM, the community projects and illegal incursions into 
the Williamson mine lease area can be found on Petra's website at: https:// 
www.petradiamonds.com/our-operations/our-mines/williamson/ 
allegations-of-human-rights-abuses-at-the-williamson-mine/. 
 
Notes: 
 
 1. The following definitions have been used in this announcement: 
 
 a. Exceptional Stones: diamonds with a valuation and selling price of US$5m or 
    more per stone 
 b. cpht: carats per hundred tonnes 
 c. LTIs: lost time injuries 
 d. LTIFR: lost time injury frequency rate, calculated as the number of LTIs 
    multiplied by 200,000 and divided by the number of hours worked 
 e. Mcts: million carats 
 f. Mt: million tonnes 
 g. FY: financial year 
 h. Q: quarter of the financial year 
 i. ROM: run-of-mine (i.e. production from the primary orebody) 
 j. SLC: sub level cave 
 k. m: million 
 l. C-Cut: the 'Centenary Cut' located beneath the B block of the Cullinan 
    orebody 
 m. CC1E: the CC1 East area of the Cullinan orebody 
 
ABOUT PETRA DIAMONDS 
 
Petra Diamonds is a leading independent diamond mining group and a supplier of 
gem quality rough diamonds to the international market. The Company's portfolio 
incorporates interests in three underground producing mines in South Africa 
(Finsch, Cullinan Mine and Koffiefontein) and one open pit mine in Tanzania 
(Williamson). 
 
Petra's strategy is to focus on value rather than volume production by 
optimising recoveries from its high-quality asset base in order to maximise 
their efficiency and profitability. The Group has a significant resource base 
of ca. 230 million carats, which supports the potential for long-life 
operations. 
 
Petra strives to conduct all operations according to the highest ethical 
standards and only operates in countries which are members of the Kimberley 
Process. The Company aims to generate tangible value for each of its 

stakeholders, thereby contributing to the socio-economic development of its 
host countries and supporting long-term sustainable operations to the benefit 
of its employees, partners and communities. 
 
Petra is quoted with a premium listing on the Main Market of the London Stock 
Exchange under the ticker 'PDL'. The Company's US$336.7 million notes due in 
2026 are listed on the Irish Stock Exchange and admitted to trading on the 
Global Exchange Market. For more information, visit www.petradiamonds.com. 
 
APPENDIX 
 
Corporate and financial summary 30 June 2022 
 
                     Unit   As at 30 June As at 31 March    As at 31      As 30 June 
                                2022           2022       December 2021      2021 
 
Cash at bank -       US$m       288.2          249.2          272.3          173.0 
(including 
restricted 
amounts)¹ 
 
Diamond debtors      US$m       37.4            ­-             0.4           38.3 
 
Diamond              US$m       53.5           98.1           79.6           56.5 
inventories2,3       Cts       453,380        914,402        819,252        637,676 
 
US$336.7m loan       US$m       366.2          356.2          346.4          327.3 
notes (issued 
March 2021)4 
 
Bank loans and       US$m         -              -            78.6           103.0 
borrowings5 
 
Consolidated Net     US$m       40.6           107.0          152.3          228.2 
debt6 
 
Bank facilities      US$m       61.5           24.5            0.6            7.7 
undrawn and 
available5 
 
Note:  The following exchange rates have been used for this announcement: 
average for FY 2022 US$1: ZAR15.22 (FY 2021: US$1: ZAR15.41); closing rate as 
at 30 June 2022 US$1: ZAR16.27 (30 June 2021: US$1: ZAR14.27). 
 
Notes: 
 
 1. Cash at bank and diamond inventories include balances at Williamson as at 
    30 June 2022 and 31 March 2022 following the Company entering into the MoU 
    with Caspian during December 2021. Comparatives for 31 December 2021 and 30 
    June 2021 have been adjusted to include balances attributable to 
    Williamson. 
 2. Recorded at the lower of cost and net realisable value. 
 3. Diamond inventories includes the Williamson 71,654.45 carat parcel of 
    diamonds blocked for export during August 2017, with a carrying value of 
    US$11.8 million. Under the framework agreement reached with the Government 
    of Tanzania, as announced on 13 December 2021, the proceeds from the sale 
    of this parcel are required to be allocated to Williamson. 
 4. The US$336.7 million loan notes have a carrying value of US$366.2 million 
    which represents the gross capital of US$336.7 million of notes, plus 
    accrued interest and net of unamortised transaction costs capitalised, 
    issued following the capital restructuring (the "Restructuring") completed 
    during March 2021. 
 5. Bank loans and borrowings represent amounts drawn under the Group's 
    refinanced South African bank facility with ABSA, completed in June 2022. 
     The new facility with ABSA comprises a ZAR1 billion (US$61.5 million) 
    revolving credit facility which remains undrawn and available at 30 June 
    2022. During the Period, the South African banking facilities held with the 
    Group's previous consortium of South African lenders were settled and 
    cancelled, comprising of the revolving credit facility of ZAR404.6 million 
    (US$24.9 million) (capital plus interest) and the term loan of ZAR893.2 
    million (US$54.9 million) (capital plus interest). . 
 6. Consolidated Net Debt is bank loans and borrowings plus loan notes, less 
    cash and diamond debtors. 
 
Q4 and FY 2022 production and sales by mine 
 
Cullinan Mine - South Africa 
 
                     Unit        Q4        Q4     Variance    FY 22     FY 21   Variance 
                                FY 22     FY 21 
 
Sales 
 
Revenue              US$m          80.0      80.4       -1%     321.3     250.6      +28% 
 
Diamonds sold        Carats     617,677   715,032      -14% 1,899,011 2,261,058      -16% 
 
Average price per    US$            129       112      +15%       169       111      +53% 
carat 
 
ROM production 
 
Tonnes treated       Tonnes   1,090,897 1,220,351      -11% 4,451,515 4,614,802       -4% 
 
Diamonds produced    Carats     362,249   459,198      -21% 1,609,925 1,761,490       -9% 
 
Grade1               cpht          33.2      37.6      -12%      36.2      38.2       -5% 
 
Tailings production 
 
Tonnes treated       Tonnes      62,844   118,327      -47%   413,550   445,538       -7% 
 
Diamonds produced    Carats      28,056    38,399      -27%   205,050   182,452      +12% 
 
Grade1               cpht          44.6      32.5      +38%      49.6      41.0      +21% 
 
Total production 
 
Tonnes treated       Tonnes   1,153,741 1,338,678      -14% 4,865,065 5,060,339       -4% 
 
Diamonds produced    Carats     390,305   497,597      -22% 1,814,975 1,943,942       -7% 
 
Note: 1. Petra is not able to precisely measure the ROM / tailings grade split 
because ore from both sources is processed through the same plant; the Company 
therefore back-calculates the grade with reference to resource grades. 
 
Finsch - South Africa    Unit       Q4       Q4  Variance     FY 22     FY 21  Variance 
                                 FY 22    FY 21 
 
Sales 
 
Revenue                  US$m     60.9     37.3      +63%     165.7     123.4      +34% 
 
Diamonds sold          Carats  467,195  441,744       +6% 1,402,654 1,602,312      -12% 
 
Average price per         US$      130       84      +54%       118        77      +53% 
carat 
 
ROM production 
 
Tonnes treated         Tonnes  650,670  528,139      +23% 2,730,197 2,311,195      +18% 
 
Diamonds produced      Carats  269,828  288,305       -6% 1,274,961 1,237,219       +3% 
 
Grade1                   cpht     41.5     54.6      -24%      46.7      53.5      -13% 
 
Tailings production 
 
Tonnes treated         Tonnes    2,784        0     +100%     2,785         0     +100% 
 
Diamonds produced      Carats      362        0     +100%       362         0     +100% 
 
Grade1                   cpht     13.0        0     +100%      13.0         0     +100% 
 
Total production 
 
Tonnes treated         Tonnes  653,454  528,139      +24% 2,732,982 2,311,195      +18% 
 
Diamonds produced      Carats  270,190  288,305       -6% 1,275,323 1,237,219       +3% 
 
Note: 1. Petra is not able to precisely measure the ROM / tailings grade split 
because ore from both sources is processed through the same plant; the Company 
therefore back-calculates the grade with reference to resource grades. 
 
Koffiefontein - South Africa 
 
                      Unit       Q4        Q4    Variance    FY 22    FY 21   Variance 
                                FY 22    FY 21 
 
Sales 
 
Revenue               US$m          5.0      5.1       -1%      21.5     27.9      -23% 
 
Diamonds sold         Carats     10,043   21,698      -54%    36,950   66,650      -45% 
 
Average price per     US$           500      233      115%       581      419       39% 
carat 
 
ROM production 
 
Tonnes treated        Tonnes     73,194  130,214      -44%   466,957  754,369      -38% 
 
Diamonds produced     Carats      5,102    9,050      -44%    35,302   59,151      -40% 
 
Grade                 cpht          7.0      7.0        0%       7.6      7.8       -4% 
 
Total production 
 
Tonnes treated        Tonnes     73,194  130,214      -44%   466,957  754,369      -38% 
 
Diamonds produced     Carats      5,102    9,050      -44%    35,302   59,151      -40% 
 
Williamson - Tanzania 
 
                      Unit       Q4        Q4    Variance    FY 22    FY 21   Variance 
                                FY 22    FY 21 
 
Sales 
 
Revenue               US$m         33.3        0     +100%      75.9      4.6    1,564% 
 
Diamonds sold         Carats    110,386        0     +100%   197,756   30,339      552% 
 
Average price per     US$           301        0     +100%       384      150      155% 
carat 
 
ROM production 
 
Tonnes treated        Tonnes  1,231,082        0     +100% 3,591,099        0      100% 
 
Diamonds produced     Carats     80,194        0     +100%   228,070        0      100% 
 
Grade                 cpht          6.5        0     +100%       6.4        0      100% 
 
Total production 
 
Tonnes treated        Tonnes  1,231,082        0     +100% 3,591,099        0      100% 
 
Diamonds produced     Carats     80,194        0     +100%   288,070        0      100% 
 
[1] Petra classifies 'Exceptional Stones' as rough diamonds that sell for US$5 
million or more each 
 
[2] Stated after cash and diamond debtors 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 19, 2022 02:00 ET (06:00 GMT)