REG-Petra Diamonds: Sales results for Tender 6 of FY 2022

Petra DiamondsAnnouncement

30/06/2022 10:30

FOR IMMEDIATE RELEASE

 30 June 2022   LSE: PDL 

Petra Diamonds

Sales results for Tender 6 of FY 2022

Like-for-like diamond prices up 7.7% on previous tender

Richard Duffy, Chief Executive Officer of Petra Diamonds (Petra), said:

“The Tender 6 results conclude a strong year for Petra’s diamond sales
both in terms of pricing and the demand we have seen. The significant interest
shown at Tender 6 bears testament to the ongoing strength of the rough diamond
market.  We have seen pricing support across our product mix, with particular
strength in the prices of both white and coloured gem-quality stones over the
last 12 months.”

Petra announces the results of Tender 6 of FY 2022, at which 569,496 carats
were sold for a total of US$93.0 million, bringing total sales for FY 2022 to
US$584.5 million across Petra’s mining operations.

                         Tender 6 June 2022  Tender 5 May 2022  FY 22 12 months to 30 Jun 2022  FY 21 12 months to 30 Jun 2021  
 Diamonds sold (carats)        569,496            635,806                  3,536,371                       3,960,475            
 Sales (US$ million)            93.0                86.1                     584.5                           406.9              

Like-for-like rough diamond prices increased by 7.7% on Tender 5 (announced on
3 May 2022) while full year like-for-like prices increased 41.5% compared to
FY 2021, with the balance of price movement attributable to product mix.
Strong demand, with resultant price increases, was evident across all size and
quality categories.

No Exceptional Stones were sold during this tender cycle. During FY 2022,
revenue from Exceptional Stones totalled US$89.0 million (US$75.2 million from
Cullinan Mine and US$13.8 million from Williamson) compared to US$62.0 million
Exceptional Stone revenue (all from Cullinan Mine) in the previous
year. Petra classifies ‘Exceptional Stones’ as rough diamonds that sell
for US$5 million or more each.

Mine by mine prices for Tender 6 are set out in the table below:

     US$/carat      Tender 6 June 2022  Tender 5 May 2022  FY 22 12 months to 30 Jun 2022  FY 21 12 months to 30 Jun 2021  
 Cullinan Mine (1)          151                111                       169                             111               
 Finsch                     140                122                       118                             77                
 Koffiefontein              614                431                       581                             419               
 Williamson (1)             272                341                       384                             150               

Note 1: Prices for both Cullinan Mine and the Williamson mine include proceeds
from the sale of Exceptional Stones, noting that there were a number of high
value Exceptional Stones from the Cullinan Mine and a high value Exceptional
Stone at the Williamson mine in FY 2022.

The Company will provide further details of operating results when it releases
its FY 2022 Trading Update on 19 July 2022.

Tender 1 of FY 2023 is expected to take place August/September 2022.

~ Ends ~

For further information, please contact:

Petra Diamonds, London                 Telephone: +44 20 7494
8203

Jill
Sherratt                                         
investorrelations@petradiamonds.com         

Patrick Pittaway

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 Group’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 Group 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 Group’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.



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