REG-Petra Diamonds Ltd: Combined Tender 5 & 6 FY 2025 sales results

Petra DiamondsAnnouncement

09/06/2025 07:02

 


 

 

 9 June 2025  LSE: PDL  

 

Petra Diamonds Limited

(Petra or the Company)

 

Combined Tender 5 & 6 FY 2025 sales results

 

Petra today announces its combined Tender 5 & 6 sales results, following the
decision made in April to postpone the sale of its Cullinan Mine goods.

 

In total for these tenders, 613,682 carats were sold for US$53 million, at an
average price of $86 per carat, bringing year-to-date sales revenues to $239
million from the sale of 2,390,976 carats.

 

This total includes 84,479 carats sold for US$14 million from Williamson,
since the last tender results. This is the final tender sale from the
Williamson Mine under Petra's ownership following the completion of the sale
of the asset in May 2025.

 

Rough diamond sales results for the respective periods are below:

 

                         Tender 5/6 FY 2025 Apr/June 25  Tender 4 FY 2025 Feb-25  Variance  Tender 5/6 FY 2024 Apr/May-24  YTD FY 2025 Tenders 1-6  YTD FY 2024 Tenders 1-6  
 Diamonds sold (carats)  613,747                         476,265                  +29%      733,236                        2,390,976                2,821,716                
 Sales (US$ million)     53                              39                       +34%      93                             239                      329                      
 Average price (US$/Ct)  86                              83                       +4%       127                            100                      116                      

 

Sales

Total revenue YTD FY 2025 from rough diamond sales is US$239 million, compared
to US$329 million in the first six tenders of FY 2024.

Mine by mine average prices for the respective periods are set out in the
table below:

 US$/carat   Tender 5/6 FY 2025 Apr / Jun-25  Tender 4 FY 2025 Feb-25  YTD FY 2025 Tenders 1-6  YTD FY 2024 Tenders 1-6  FY 2024  
 Cullinan    72                               77                       98                       117                      116      
 Finsch      75                               67                       75                       98                       98       
 Williamson  169                              173                      170                      198                      191      

 

In light of ongoing market uncertainty and the product mix issue at Cullinan
mine, as referred to in the 9 April 2025 announcement, the Company will
continue to keep its pricing assumptions for FY 2025 under review.

 

 

Like-for-like prices

 

Like-for-like rough diamond prices, excluding single stones, for goods sold
improved by 3% on Tender 4 FY 2025 across most product categories. YTD
like-for-like prices are down 16% compared to the equivalent six tenders of FY
2024, mainly from smaller size categories.

 

Product Mix

 

As indicated in the 9 April 2025 announcement, Cullinan Mine has been
experiencing product mix weakness, resulting in a -6% movement in prices
achieved due to product mix compared to Tender 4. The Company expects the
product mix to improve, as we continue to ramp up production from the CC1E and
from the Western side of the C-Cut block.

 

At Finsch, however, an improvement in the product mix since Tender 4 has
resulted in a +7% movement in prices, as we began accessing ore from new areas
at Finsch. 

 

Ongoing tender reporting

 

In response to fluctuations in diamond prices and demand, the Company no
longer follows regular tender cycles and may postpone portions of tenders or
sell goods as run-of-mine. Reporting tender results on a tender-by-tender
basis is no longer appropriate, and sales results will be reported quarterly,
along with the operating update, in the future.

 

 

 

 

~ Ends ~

 

 

For further information, please contact:

 

 

 Petra Diamonds, London  Kelsey Traynor  Telephone: +44 7495 470 187 investorrelations@petradiamonds.com  

 

About Petra Diamonds Limited

 

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 two underground mines in South
Africa (Cullinan and Finsch Mines).

 

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
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 on the Main Market of the London Stock Exchange under the
ticker 'PDL'. The Company's loan notes, due in 2026, are listed on EuroNext
Dublin (Irish Stock Exchange). For more information,
visit www.petradiamonds.com.

 

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