Lower than planned revenue – PETRA DIAMONDS announces for FY015

In a news release published today, PETRA DIAMONDS updates FY2015 targets (update on June 12 for a FY ending June 30).

Carat production is maintained at 3.2 million carats (as a 5 Mct long term – 2019 – target), yet revenues are downgraded to 430 M USD for FY2015. The lower than planned revenue is explained by high variability in ore mix due to their underground production at Finsch and Cullinan being sourced from mature and diluted mining areas, (…) the lower incidence of high quality stones and higher volumes of smaller diamonds reduces the average prices achieved on sale.

You may read the full news release clicking here.

Published by

Luís Chambel

Exploration & Research Mining Engineer, MSc Engineering Geology, MBA, PhD European Engineer -EUR ING; Euro Geologist - EURO GEOL

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