REG-Petra Diamonds: Sales Results for Tender 3 of FY 2022

Petra DiamondsAnnouncement

15/12/2021 07:05

FOR IMMEDIATE RELEASE

 15 December 2021   LSE: PDL 

Petra Diamonds Limited

("Petra" or the "Company")

Sales Results for Tender 3 of FY 2022

Petra Diamonds Limited has taken the decision to release sales results post
each of the individual tender cycles held by the Company, as is common for
other listed diamond producers.  Further to this, Petra announces the results
of Tender 3 of FY 2022, at which 885,136 carats were sold for a total of
US$128.3 million.

 Tender 3 FY 2022 Results  FY 2022  Tender 3  FY 2021  Tender 3  
 Diamonds sold (carats)         885,136            752,920       
 Sales (US$ million)             128.3               98.1        

Highlights:
* Like-for-like rough diamond prices increased by ca. 16% on the six months to
June 2021.
* This tender cycle included a 295.8ct white stone from the Cullinan mine,
which sold for US$13.9 million to Stargems DMCC.
* The tender cycle also included the first parcel sold on behalf of Williamson
Diamonds Limited post the restart of operations. 
* A total of 26,611 carats were sold from the Williamson parcel, including a
32.32 carat exceptional pink diamond which sold for US$13.8 million to Diacore
International. The balance of goods from the Williamson parcel sold for a
total of US$6.4 million, averaging US$241 per carat.
FY 2022 Tender Results year-to-date:

                         FY 2022  Year to Date  FY 2022  Tender 3  FY 2022  Tender 2  FY 2022  Tender 1  
 Diamonds sold (carats)        1,595,847             885,136            132,525            578,186       
 Sales (US$ million)             264.7                128.3               21.5              114.9        

Richard Duffy, Chief Executive of Petra, commented:

“These strong sales results are further evidence of the robust health of the
diamond pipeline. The rough market is currently being driven by strong sales
of polished diamonds and increased demand from the manufacturing centres,
which in turn reflects positive end consumer markets, particularly in the
run-up to the festive selling season. Demand at our most recent tender cycle
appeared to span across the entire spectrum of rough assortments and sizes,
and reflects the real shortages of quality goods further to the recent
contraction of global rough supply.”

More detailed mine by mine information will be included in the Company’s H1
FY 2022 trading update to be released on 18 January 2022.

This announcement includes inside information as defined in Article 7 of the
Market Abuse Regulation No. 596/2014 and is being released on behalf of Petra
by the Company Secretary.

~ Ends ~

For further information, please contact:

Petra Diamonds,
London                                        
Telephone: +44 20 7494 8203

Cathy
Malins                                                  
            investorrelations@petradiamonds.com

Des Kilalea

Julia Stone

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 three underground producing mines in South
Africa (Finsch, Cullinan 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 (subject to temporary suspension) on the Irish Stock Exchange
and admitted to trading on the Global Exchange Market. For more information,
visit www.petradiamonds.com.



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