6th Oct 2023 12:52
Petra Diamonds Ltd - Southern Africa-focused diamond miner and supplier - Reports initial tender results for its Tender 2 sales. Sells 344,554 carats, representing 75% of the total tender volume, for USD30.2 million at an average price of USD88 per carat. Notes these prices are 16% to 18% lower than the prices achieved in Tender 1 on a like-for-like basis. Says this reflects "prevailing market weakness". Sale of remaining 25% of volume of Tender 2 is expected to close on Wednesday next week.
Current stock price: 61.30 pence, down 8.5% in London on Friday afternoon
12-month change: down 44%
By Heather Rydings, Alliance News senior economics reporter
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