Company
Petra Diamonds Limited
LON:PDL
Mid-tier diamond exploration, development and production with all of its operations in Southern Africa. Petra as one of the world’s largest independent diamond groups by resources, with a total resource base of 265 million carats, worth US$27.3 billion.
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Petra Diamonds aims to lower debt and initiate a dividend plan after a strong financial showing
The company is the owner of four mines, including Cullinan in South Africa
Petra Diamonds sparkles as annual revenues grow by 44%
The group, which has four mines – three in South Africa and one in Tanzania – benefited from a 41.5% increase in like-for-like diamond prices
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Today's Market View - Altus Strategies; BHP; Empire Metals; Oriole Resources; Petra Diamonds; Rambler Metals and Mining and more...
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Petra Diamonds sells 342 carat white diamond and 18 carat blue diamond for initial US$13.5mln
Type IIa stones are generally colourless, meaning they can be the purest form of white possible
Zenith security guards at Petra Diamonds' Williamson mine modified ammo, RAID says
"Petra takes the allegations of human rights abuses at the Williamson mine extremely seriously,” the company said
Petra Diamonds still struggling
The company has significant unrestricted cash and inventory, but a crippling debt burden
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Copper prices continue to rise on strong demand prospects, low inventory levels and stimulus prospects Copper prices were driven higher through stop levels yesterday as the market gained on new confidence in the end of the Coronavirus Crisi
The star that burns twice as bright burns half as long: Petra Diamonds completes its falls from grace, and looks unlikely to rise any time soon
Petra's US$650mln debt pile amounts to more than 35 times its market capitalisation
Pensana progresses Longonjo NdPr Project in Angola towards PFS in September
The company has identified a path to early development that aims to position Longonjo as an important supplier of NdPr raw materials to meet demand from the electrification of vehicles.
Petra Diamonds downgraded to ‘equal weight’ by Barclays over coronavirus, depressed diamond market
Petra’s balance sheet and cash are “likely to come under significant stress” during operational halts in South Africa die to the coronavirus pandemic, according to Barclays' analysts
Petra Diamonds tarnished by earnings decline and slow start to 2020
The miner also cits its full-year cash flow estimates amid weakness in the diamond market, partially caused by the coronavirus outbreak
Petra Diamonds downgraded by Citi as debt reduction drags
The analysts removed their share price target “as we find the range of valuation outcomes too wide for the stock to have a point estimate for target price”
Petra Diamonds shares slide despite production improvements
Production increased by 2.5% but revenues fell 6% due to lower diamond prices and an adverse mix of diamonds
Power supply crisis in South Africa escalates, putting mining operations and the wider economy at risk
South Africa's once-mighty economy now looks increasingly vulnerable
Petra Diamonds reports signs of price stabilisation for diamonds
The uptick post-period end may be due to the efforts by diamond giants De Beers and Alrosa to limit output and sales into the midstream
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Today's Market View - Petra Diamonds, Phoenix Copper, Shanta Gold and more..
Avesoro Resources (LON:ASO) – Response to take-over offer Barrick Gold – settles with Tanzania for $300m, a 16% free-carried interest in each of the Barrick-Acacia’s Tanzanian gold mines and a 50:50 profit sharing agreement Shanta Gold – Ta
Petra Diamonds punches back from all-time low over cash flow and capex concerns
After its shares faded to an all-time low, Petra insisted on Tuesday that it “is not considering raising equity” to refinance
Investments and investor services
FireAngel's chief executive officer bolts for the exit
A look at the day's major movers, including Low & Bonar, BP, Petra Diamonds and Transense Technologies
Petra Diamonds will need an equity financing soon, warns Berenberg as it downgrades
Analysts think Petra will need to refinance circa US$475mln of forecast debt when it falls due, which is “still too much” considering the level of forecast cash flow generation
Petra Diamonds sells 425-carat Legacy diamond for US$15mln
Analysts had cautiously expected the diamond to go for at least US$25mln, given that a 507-carat stone from Cullinan fetched US$35mln back in 2009
Petra Diamonds opens new chapter, as new management arrives and production starts to rise
A changing of the guard is underway at Petra Diamonds
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FTSE 100 closes flat as traders don't know which way to turn
Footsie closed down around 0.19 at 7,436, while mid-cap FTSE 250 was up around 95 points at 19,807
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Hot cross buns will be wanted but there is still plenty to digest in the week before Easter
There will be plethora of UK data - jobs, inflation, and retail sales - plus corporate updates from the likes of Unilever, BHP Rio Tinto, Bunzl and Rentokil Initial
Petra Diamonds sparkles as it uncovers 425 carat diamond at Cullinan
Analysts think the diamond could fetch somewhere between US$25-35mln when it goes up for sale later this year
Berenberg cuts rating for Gem Diamonds, reduces targets for Petra Diamonds and Firestone Diamonds
After a recent trip to Antwerp, Berenberg’s analysts said: “Sentiment is mixed, with rough diamond prices starting the year on a relatively lacklustre note, but at least remaining stable, rather than weakening"
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Proactive Mining weekly highlights: Ariana Resources, Horizonte, Premier African Minerals, Landore, Armadale, Petra Diamonds, Sirius Minerals
There was plenty to keep mining investors attention this past week.
Petra Diamonds chief exec John Dippenaar takes the fall for underperformance, despite some recent improvement
Petra's debt pile has burgeoned even as expansion has slowed
Investments and investor services
FTSE 100 closes in red amid lower volumes but Reckitt Benckiser jumps
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
Unpacking the diamond market with the 3Cs, and other short-hand tricks to understanding value
Diamonds can be an investor's best friend, given the right research
RBC knocks Petra Diamonds to ‘Sector Perform’ as drop in Cullinan prices indicates flagship is “not paying its way”
Analysts said while they remained “cautiously optimistic” of a recovery, the US$94 per carat diamond price from the mine in the period was “well below” their own estimates of US$132
Petra Diamonds shares lose their shine as decline in diamond prices overshadow improved revenues
Like-for-like rough diamond prices at the flagship Cullinan mine fell 4% compared to the second half of 2018 due to what it said was “usual seasonal weakness” while the product mix in the period had yielded prices at the lower end of histor
Petra Diamonds on track to meet full year guidance after first quarter output rises 21%
Higher production and improved product mix offset a 5% decline in diamond prices
Real diamonds losing their sparkle among millennials, claims Berenberg
A survey of 2,000 millennial women found that synthetic diamonds are becoming increasingly popular among the younger generation, who don’t care to spend hundreds of pounds of real diamonds
Petra Diamonds' CEO Johan Dippenaar to step down as miner signals end of capex-heavy phase
Operational capital expenditure (excluding capitalised interest) decreased 46% in the year to June and Petra expects this trend to continue with roughly US$93mln of capex in the current fiscal year FY 2019 and US$72mln in FY 2020
Botswana Diamonds takes a portfolio approach to exploration in the “best diamond address in the world”
Botswana Diamonds has an exciting suite of diamond exploration assets in Botswana and South Africa
Petra Diamonds shares hit eight-year low
Petra Diamonds shares are at an eight-year low after debt levels rose alarmingly and a rights issue was required
RBC upgrades Petra Diamonds as rights issue derisks balance sheet ahead of ramp up
The bank said a US$178mln cash injection from a rights issue in May meant the diamond miner's balance sheet no longer “carries the high cost S.A. debt”
Tharisa takes first steps into Zimbabwe with Great Dyke deals
Another change recently was for Tharisa to take over the running of the mine, which involved it buying the fleet from its contractor
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RockRose Energy shares gain on deal to buy Netherlands-based Dyas
Some of the main news-driven risers and fallers in London on Thursday afternoon...
Petra Diamonds launches deeply discounted US$178mln rights issue
The majority of the proceeds will be used to reduce the company's debt pile
Utilitywise shares rise as new customers drive revenue growth
A look at some of the biggest risers and fallers in London on Monday
Petra Diamonds' shares jump as firm reports 44% growth in revenue on record production
The small cap firm sold 1,373,771 carats of diamonds in the third quarter, compared to 1,069,886 sold at the same stage a year earlier
Investments and investor services
FTSE 100 ends in red after lacklustre session
The FTSE 100 extended the morning's losses toe end the day 47 points lower at 7,247
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Banks to feature strongly in deluge of blue chip earnings, including Lloyds, RBS, Barclays
Week ahead includes a deluge of blue chip results, notably from the banking sector, including numbers from HSBC PLC, Barclays PLC, Lloyds Banking Group PLC, and Royal Bank of Scotland PLC
Proactive Mining highlights: Asiamet Resources, Eurasia Mining, Ferrum Crescent, Goldplat, Wolf Minerals, Petra Diamonds
As ever, it was a busy week of reporting, shareholder updates as well as progress with exploration and development projects.
Petra Diamonds' shares plummet as miner warns on full year earnings, cuts production guidance
The FTSE All-Share listed firm said its production guidance for the financial year to the end of June would be between 4.6mln and 4.7mln carats, down from a previous forecast of 4.8mln to 5.0mln carats
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Unilever among the quality blue chip updates scheduled, but Fed meeting and US jobs data more important
Week ahead includes updates from FTSE 100 AstraZeneca PLC, BT Group PLC, Royal Dutch Shell PLC, and Unilever PLC, plus a Federal Reserve meeting and January US jobs data
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Is it time to buy 'bombed-out Carillion?
The short-sellers' favourite has turned up on the radar of the "Bombed Out but Bouncing Back" portfolio. Will it be the next Interserve?
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"Bombed Out" portfolio takes a chance on fallen giants AA, Acacia, Hikma, Interserve, Petra Diamonds and Petrofac
Somewhat surprisingly, the portfolio is enjoying a good spell, but it is taking a bit of a leap of faith in terms of Tanzania with a couple of its new selections
FTSE 100 near flat at close after quiet day's trading
Around 4pm, the UK blue chip index was up about 8 points to 7,531
Lloyds, Barclays and RBS under the microscope with release of third quarter earnings
The week ahead includes third quarter earnings from Lloyds, Barclays and RBS along with trading updates from Shire, IAG and GSK
Shanta on track for 80,000 ounces and unlikely to be deflected by political rumblings in Tanzania
Shanta Gold's recent production ramp-up in Tanzania is unlikely to be derailed by the current uncertainty there
Petra Diamonds shares lose their sparkle as Tanzania government bans diamond exports
Petra Diamonds has halted operations at its Williamson mine in Tanzania as the government questioned key personnel as part of a wider crackdown on the industry
Gold mining in Tanzania gets riskier, and more attractive too
Tanzanian royalty claims have alarmed investors, but it's nothing new in resources and not even specific to Africa
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Provident Financial and Carillion face demotions in FTSE reshuffle
The day ahead includes the quarterly FTSE reshuffle announcement and full year results from UK recruiter Hays
Tharisa's self-help programme stands it in good stead
The miner has notched up another quarter of record production at its Tharisa mine in South Africa
Petra Diamonds warns production may be at bottom end of full year target range
Petra is mindful full year production could reach the lower end of its guidance range due to labour unrest in South Africa.
Why small cap miners can be far better bets than their larger peers
What conclusions can we draw from the flurry of commentary that followed Glencore’s production results this week.
Rainbow Rare Earths all set for standard list debut
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Of BT's battles with Ofcom & Sky, and Unilever's face-off with supermarkets
Lots of big names reporting this week including: BHP, Dixons Carphone, easyJet, Diageo, Sky, Unilever and BT
Mining round-up: Harvest Minerals helped by positive drill programme news
It was, as expected, a fairly quiet week for news from the mining sector, with few announcements released in the shortened trading week.
Petra Diamonds sparkles higher as it issues gov'ts payments report
Petra reported payments made in its year to June 30, 2016.
Investments and investor services
FTSE 100 shares extend gains as Wall Street rallies
FTSE 100 shares extended gains in the second half of Tuesday to close comfortably up in tendem with record-breaking gains on Wall Street