Petra’s Q4 FY 2022
and FY 2022 Trading Update
Strong revenue growth and continued
improvement in balance sheet
Petra announces its unaudited Trading Update for the fourth
quarter (“Quarter” or “Q4 FY 2022”) and financial year ending
30 June 2022 (“Year” or “FY 2022").
Petra will host calls at 09:30 and 16:00
BST today, details of which can be found at the end of this
statement.
Richard Duffy, Chief Executive
Officer of Petra, commented:
“This year’s performance completes
the successful turnaround of Petra and includes the implementation
of our new operating model, incorporating continuous improvement,
following the conclusion of Project 2022 which has delivered
improved efficiency, capital discipline and strong cash generation.
Progress on these fundamentals has enabled us to expand our focus
to executing our value-led growth strategy, including the two
projects at Cullinan Mine and Finsch, while incorporating our
recently developed sustainability framework.
“We continued to deliver safe, robust
operating performance into the fourth quarter, recovering over
3.35Mcts for the year, in line with guidance, while reducing our
LTIFR by 52%. Total revenue increased to US$585.2 million, benefiting from a combination
of supportive diamond market fundamentals and a 41.5% increase in
like-for-like diamond prices year on year, the reopening of the
Williamson mine and the recovery and sale of US$89.1 million of Exceptional Stones. The
subsequent strong free cash flow generated in FY 2022 highlights
the successful conclusion of Project 2022 and has delivered an 82%
reduction in Consolidated Net Debt to US$40.6 million.
“We reaffirm our production and cost
guidance through to FY 2025. An increase in the lead-time for some
capital items will shift some FY 2022 capex to FY 2023 with no
expected impact on the anticipated project timing or overall capex
spend. We are monitoring cost increases in our operations very
closely, but our relatively low fuel consumption, disciplined cost
management, three-year labour agreements to June 2024 and exposure to a weaker South African
Rand will assist us in better absorbing these cost pressures.
Petra’s enhanced operating model provides a platform for greater
stability and resilience, enabling further cash generation to fund
our capex requirements and support further deleveraging.”
HIGHLIGHTS
Improved safety, production and
sales
|
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
211 |
Variance |
LTIFR |
- |
0.28 |
0.35 |
20% |
0.21 |
0.44 |
52% |
LTIs |
Number |
5 |
5 |
- |
14 |
25 |
44% |
Ore processed |
Mt |
3.1 |
2.0 |
55% |
11.7 |
8.1 |
44% |
Diamonds
recovered |
Carats |
745,790 |
794,952 |
(6%) |
3,353,670 |
3,240,312 |
3% |
Diamonds sold |
Carats |
1,205,240 |
1,178,474 |
2% |
3,536,316 |
3,960,475 |
(11%) |
Revenue from diamond
sales |
US$m |
178.8 |
122.8 |
46% |
584.1 |
406.9 |
44% |
Note 1: For comparative
purposes the FY 21 production and revenue figures have been
restated to include Williamson as it is no longer a discontinued
operation
Strong revenue growth with improved
safety
- LTIFR improved 20% to 0.28 for the Quarter and 52% to 0.21 for
the Year
- LTIs flat for the Quarter at 5 and improved 44% to 14 for the
Year
- Production for the Quarter was down 6% to 745,790 carats
largely due to lower tonnes treated at Cullinan Mine following
depletion of the current CC1E mining area and the makeup of
kimberlite in the C-Cut, while production for the Year increased 3%
to 3,353,670 carats, largely owing to the resumption of mining at
Williamson
- FY 2022 total revenue amounted to US$585.2 million (FY 2021: US$406.9 million), comprising revenue from
diamond sales of US$584.1 million (FY
2021: US$406.9 million) and
additional revenue from profit share agreements of US$1.1 million (FY 2021: nil)
- FY 2022 revenue from diamond sales 44% higher at US$584.1 million driven by:
- Improved rough diamond market fundamentals, with like-for-like
prices increasing 41.5% compared to FY 2021 as a result of record
jewellery retail demand out of the US following the easing of
COVID-19 restrictions
- The sale of a high number of Exceptional Stones[1] recovered
from Cullinan Mine and one from Williamson which contributed a
record US$89.1 million compared to
US$62.0 million in FY 2021; this
compares to an average contribution from Exceptional Stones of
US$50.7 million and US$39.2 million over 3 and 5 years,
respectively
- During the Quarter, polished stones cut from the 18.30ct Type
II blue partnership stone were sold, with the most notable stone
being a 7.09ct radiant cut stone which sold for US$5.8 million. Petra sold the 18.30ct rough
diamond in August 2021 into a
partnership for US$3.5 million, while
retaining a 50% share of profits. The final polished stones
realised a net profit to the partnership of US$2.13 million, contributing additional revenue
of US$1.065 million for Petra’s 50%
profit share recognised in Q4 FY 2022 and FY 2022
Balance sheet further strengthened
- Balance Sheet as at 30 June 2022:
- Consolidated net debt[2] of US$40.6
million (31 March 2022:
US$107.0 million), reflecting strong
free cash flow generation over the Quarter
- Gross cash of US$288.2 million
(31 March 2022: US$249.2 million) and unrestricted cash of
US$271.9 million (31 March 2022: US$233.2
million)
Diamond debtors and inventory
- Diamond debtors of US$37.4
million (31 March 2022:
US$nil) with the increase reflecting the timing of Tender 6 at the
end of the Year. The outstanding debtor balances were received
shortly after year-end
- Diamond inventory valued at US$53.5
million (31 March 2022:
US$98.1 million)
Production and cost guidance
reiterated
Key operational guidance
|
Unit |
FY
22 |
FY
23E |
FY
24E |
FY
25E |
Total carats
recovered |
Mcts |
3.3 –
3.6 |
3.3 –
3.6 |
3.3 –
3.6 |
3.6 –
3.9 |
Cash on-mine costs and
G&A1 |
US$m |
300 –
310 |
300 –
320 |
300 –
320 |
300 –
320 |
Expansion
capex1 |
US$m |
34 –
36 |
115 –
125 |
125 –
135 |
115 –
120 |
Sustaining
capex1 |
US$m |
17 –
19 |
33 –
36 |
30 –
32 |
26 –
28 |
Note 1: Opex and Capex guidance is
stated in FY 22 real terms and based on an exchange rate of
ZAR15 / USD1.
More detailed guidance is available on Petra’s website at
https://www.petradiamonds.com/investors/analysts/analyst-guidance/
- Petra reiterates the detailed guidance provided for the FY 2023
to FY 2025 period
- Delivery of certain capital items planned for FY 2022 was
deferred largely due to increased lead-times. As a result, around
US$12 million of capex that was due
to be incurred in FY 2022 is now expected to be incurred in FY
2023. A corresponding adjustment has been made to expansion and
sustaining capex guidance for FY 2023 with no expected impact on
the anticipated project timing or overall capex spend
Outlook
The operational improvements we have made provide a platform for
greater stability and resilience, enabling further cash generation
to fund capex and supporting further deleveraging.
We closely monitor the current macro-economic uncertainties,
particularly the impact of inflation on our cost base, the war in
Ukraine and sanctions on Russian
producers, as well as the ongoing implications of COVID-19. The
backdrop of structural changes to the supply and demand
fundamentals in the diamond market remains unchanged and we
anticipate it to remain supportive going forward, although there
may be some volatility in the short to medium term.
CONFERENCE CALLS
09:30 and 16:00
BST today
Petra’s Chief Executive, Richard
Duffy, and Chief Financial Officer, Jacques Breytenbach, will host calls today to
discuss this trading update at 09:30 and 16:00 BST.
Registration for calls:
United
Kingdom
0800 640 6441
United Kingdom (Local)
020 3936 2999
United States
(Local) 1 646 664
1960
All other
locations
+44 20 3936 2999
09:30: Access
code: 763203
16:00: Access
code: 834604
Press *1 to ask a question, *2 to
withdraw your question, or *0 for operator assistance.
Link for recording (available later today):
https://www.petradiamonds.com/investors/results-reports/
FURTHER INFORMATION
Please contact
Petra Diamonds,
London
Telephone: +44 207 494 8203
Jill Sherratt
investorrelations@petradiamonds.com
Patrick Pittaway
Julia Stone
REVIEW
Q4 and FY 2022 production and sales
summary
|
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
21 |
Variance |
Sales |
|
|
|
|
|
|
|
Diamonds sold |
Carats |
1,205,240 |
1,178,474 |
+2% |
3,536,316 |
3,960,475 |
-11% |
Revenue |
US$m |
178.8 |
122.8 |
+46% |
584.1 |
406.9 |
+44% |
Contribution from
Exceptional Stones |
US$m |
5.7 |
9.5 |
-40% |
89.1 |
62.0 |
+44% |
|
|
|
|
|
|
|
|
Production |
|
|
|
|
|
|
|
ROM tonnes |
Mt |
3.0 |
1.9 |
+58% |
11.3 |
7.7 |
+47% |
Tailings & other
tonnes |
Mt |
0.1 |
0.1 |
- |
0.4 |
0.4 |
- |
Total tonnes
treated |
Mt |
3.1 |
2.0 |
+55% |
11.7 |
8.1 |
+44% |
|
|
|
|
|
|
|
|
ROM diamonds |
Carats |
717,373 |
756,553 |
-5% |
3,148,258 |
3,057,860 |
+3% |
Tailings & other
diamonds |
Carats |
28,417 |
38,399 |
-26% |
205,412 |
182,452 |
+13% |
Total
diamonds |
Carats |
746,790 |
794,952 |
-6% |
3,353,670 |
3,240,312 |
+3% |
Strong revenue growth in a robust
diamond market
The 44% growth in revenue from diamond sales to US$584.1 million for FY 2022 (FY 2021:
US$406.9 million) was driven in part
by the increased number of Exceptional Stones sold, totalling
US$89.1 million (FY 2021:
US$62.0 million). Revenue also
benefited from a 41.5% increase in like-for-like diamond prices in
FY 2022.
Production benefiting from operational improvements and
good safety performance
Health and safety
Petra continued to improve safety performance through remedial
actions and behaviour-based intervention programmes and the Lost
Time Injury Frequency Rate (LTIFR) decreased 52% to 0.21 for the
year (FY 2021: 0.44). Lost Time Injuries (LTIs) were of low
severity and mostly behavioural in nature and Petra continues to
target a zero-harm working environment.
Petra has implemented systems and strategies across all of its
operations aimed at preventing and
containing the spread of COVID-19 and continues its roll-out of
vaccinations for employees. In South
Africa, 64% of the workforce have received vaccinations,
while at Williamson 15% of the workforce have been
vaccinated.
Production and operations
FY 2022 production was in line with guidance, totalling
3,353,670 carats (FY 2021: 3,240,312 carats). The number of carats
sold reduced by some 11% compared to FY 2021 when significantly
higher volumes were sold, mostly off-tender, following the
inventory build-up witnessed late in FY 2020 after the initial
COVID-19 outbreak.
Cullinan Mine continued its robust performance through FY 2022.
Whilst the Q4 FY 2022 ROM production at Cullinan Mine was largely
in-line with the previous quarter, diamonds produced were 22% below
the very strong Q4 FY 2021. This is attributable to a lower ROM
grade resulting from the higher grade CC1E not contributing to Q4
FY 2022 production and a change in the ore make-up of the C-Cut
block cave footprint as the production progresses from SW to NE due
to cave maturity. However, production guidance for FY 2023 to FY
2025 remains unchanged.
Whilst the previously reported waste ingress at Finsch has been
largely mitigated through the implementation of enhanced drill and
blast and draw controls, this requires continuous management. This
saw steady production between Q3 and Q4 of FY 2022, with some
reduction in ROM grade. The 24% reduction in Q4 FY 2022 ROM grade
against Q4 FY 2021 is largely attributed to the significantly lower
levels of ROM tonnes mined introduced in Q4 FY 2021 to manage the
waste ingress and improve grade. As previously mentioned we are
implementing the Business Re-engineering (BRE) Project at Finsch to
match our cost base to our revised production levels.
The BRE Project at Koffiefontein, which is independent of the
disposal process mentioned below, aims to provide for sustainable
operations until the mine’s closure and has resulted in a labour
reduction process to align the operation with the reduced tonnage
profile. This process was concluded and the mine started on a new
shift configuration with the reduced labour structure on
30 June 2022.
Production includes Williamson’s throughput, having resumed
production in the first half of the year after an 18-month period
of care and maintenance since April
2020.
The recent increase in load shedding in South Africa is currently having minimal
impact on our operations. Our excess processing capacity at both
Cullinan Mine and Finsch allows us to reduce our processing energy
draw to meet the prescribed load curtailment requirements whilst
maintaining mining at full production and catching up on processing
when conditions return to normal.
Project 2022 has significantly exceeded its target of delivering
over US$100-150 million in net free
cashflow between July 2019 and
June 2022. Current indications are
that we have generated in excess of US$200
million of net free cashflow. More importantly, the
initiatives are now fully embedded in our operating model to ensure
that throughput, operational and capital cost efficiencies and
organisational design benefits are part of our culture of
continuous improvement. Although Project 2022 is now concluded, we
expect to continue to deliver improvements.
The diamond market
Despite significant global economic uncertainties resulting from
the war in Ukraine, like-for-like
rough diamond prices increased 41.5% for the full year to
30 June 2022, driven in particular by
record jewellery retail demand in the US. The most recent tender in
June highlighted the strength of demand across Petra’s product mix,
both in white and coloured gem-quality stones, with some increased
demand for smaller diamonds. This growth in demand is driven by
mid-stream inventory restocking and continued strong jewellery
retail sales associated with a delayed wedding boom and a growing
trend in diamonds being given as meaningful gifts post COVID-19.
While the diamond market is strong, macroeconomic uncertainties
caused by the rise in inflation are a potential dampener of
demand.
Strategic updates on Williamson Mine
and Koffiefontein Mine
Williamson
As previously announced, the Framework Agreement between Petra
and the Government of Tanzania
will become effective after a number of conditions are satisfied,
including obtaining various government approvals. The agreement,
which will result in the reduction of Petra’s indirect shareholding
in Williamson Diamonds Limited (WDL) from 75% to 63% and establish
a sustainable future for Williamson, is progressing and is now
expected to become effective in the first half of FY 2023.
Petra expects to further reduce its indirect shareholding in WDL
from 63% to 31.5% via a sale to Caspian Limited but with Petra
retaining a controlling interest in WDL. The transaction remains
subject to the parties first agreeing definitive transaction
agreements and then obtaining all necessary government, regulatory
and lender approvals which are also expected to be obtained in the
first half of FY 2023.
These agreements are in line with Petra’s objective of reducing
its exposure in Tanzania while
retaining control and sharing in the upside.
Koffiefontein
In April, it was announced that Petra is seeking a responsible
exit from its investment in Koffiefontein. Petra has received
non-binding, expressions of interest from several interested
parties which it is in the process of evaluating.
In the event that a suitable buyer is not identified through
this disposal process, Petra remains committed to operate the mine
responsibly in accordance with its current life of mine plan,
before proceeding with a decommissioning, rehabilitation and
closure programme.
Update on the Independent Grievance
Mechanism and community projects at Williamson
Petra has implemented remedial programmes and initiatives and is
establishing the Independent Grievance Mechanism (IGM) to address
the historical allegations of human rights abuses at Williamson.
Engagements with the Government of Tanzania and local stakeholders on the IGM are
due to be completed in the coming weeks and the focus will then
shift to appointing the various organs that will make up the IGM,
with the current target for the IGM to become operational remaining
Q4 of CY 2022.
A number of other initiatives are being put in place to provide
sustainable benefits to the communities located close to the mine
funded by the one million pounds escrow account established by
Petra. Having completed all planned activities in Q1 CY 2022, the
Gender Based Violence initiative is now looking to implement
various community action plans once they have been reviewed by the
District Commissioner. The medical services project has been
expanded to provide further services (beyond physiotherapy).
Feasibility studies for income generating projects (agriculture
businesses and artisanal mining) are also progressing and a radio
programme to improve awareness and understanding of the IGM and
community projects amongst the local community has been set up.
More information on the IGM, the community projects and illegal
incursions into the Williamson mine lease area can be found on
Petra’s website at:
https://www.petradiamonds.com/our-operations/our-mines/williamson/allegations-of-human-rights-abuses-at-the-williamson-mine/.
Notes:
- The following definitions have been used in this
announcement:
- Exceptional Stones: diamonds with a valuation and selling
price of US$5m or more per
stone
- cpht: carats per hundred tonnes
- LTIs: lost time injuries
- LTIFR: lost time injury frequency rate, calculated as the
number of LTIs multiplied by 200,000 and divided by the number of
hours worked
- Mcts: million carats
- Mt: million tonnes
- FY: financial year
- Q: quarter of the financial year
- ROM: run-of-mine (i.e. production from the primary
orebody)
- SLC: sub level cave
- m: million
- C-Cut: the ‘Centenary Cut’ located beneath the B block of
the Cullinan orebody
- CC1E: the CC1 East area of the Cullinan orebody
ABOUT PETRA DIAMONDS
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 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 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$336.7 million notes due in 2026
are listed on the Irish Stock Exchange and admitted to trading on
the Global Exchange Market. For more information, visit
www.petradiamonds.com.
APPENDIX
Corporate and financial summary
30 June 2022
|
Unit |
As at
30 June
2022 |
As at
31 March 2022 |
As at
31 December 2021 |
As 30
June
2021 |
Cash at bank –
(including restricted amounts)¹ |
US$m |
288.2 |
249.2 |
272.3 |
173.0 |
Diamond debtors |
US$m |
37.4 |
— |
0.4 |
38.3 |
Diamond
inventories2,3 |
US$m
Cts |
53.5
453,380 |
98.1
914,402 |
79.6
819,252 |
56.5
637,676 |
US$336.7m loan notes
(issued March 2021)4 |
US$m |
366.2 |
356.2 |
346.4 |
327.3 |
Bank loans and
borrowings5 |
US$m |
— |
— |
78.6 |
103.0 |
Consolidated Net
debt6 |
US$m |
40.6 |
107.0 |
152.3 |
228.2 |
Bank facilities
undrawn and available5 |
US$m |
61.5 |
24.5 |
0.6 |
7.7 |
Note: The following exchange rates have
been used for this announcement: average for FY 2022 US$1: ZAR15.22 (FY
2021: US$1: ZAR15.41); closing rate as at 30 June 2022 US$1:
ZAR16.27 (30
June 2021: US$1: ZAR14.27).
Notes:
- Cash at bank and diamond inventories include balances at
Williamson as at 30 June 2022 and
31 March 2022 following the Company
entering into the MoU with Caspian
during December 2021. Comparatives
for 31 December 2021 and 30 June 2021 have been adjusted to include
balances attributable to Williamson.
- Recorded at the lower of cost and net realisable
value.
- Diamond inventories includes the Williamson 71,654.45 carat
parcel of diamonds blocked for export during August 2017, with a carrying value of
US$11.8 million. Under the framework
agreement reached with the Government of Tanzania, as announced on 13 December 2021, the proceeds from the sale of
this parcel are required to be allocated to Williamson.
- The US$336.7 million loan
notes have a carrying value of US$366.2
million which represents the gross capital of US$336.7 million of notes, plus accrued interest
and net of unamortised transaction costs capitalised, issued
following the capital restructuring (the “Restructuring”) completed
during March 2021.
- Bank loans and borrowings represent amounts drawn under the
Group’s refinanced South African bank facility with ABSA, completed
in June 2022. The new facility
with ABSA comprises a ZAR1 billion
(US$61.5 million) revolving credit
facility which remains undrawn and available at 30 June 2022. During the Period, the South
African banking facilities held with the Group’s previous
consortium of South African lenders were settled and cancelled,
comprising of the revolving credit facility of ZAR404.6 million (US$24.9
million) (capital plus interest) and the term loan of
ZAR893.2 million (US$54.9 million) (capital plus interest).
.
- Consolidated Net Debt is bank loans and borrowings plus loan
notes, less cash and diamond debtors.
Q4 and FY 2022 production and sales by
mine
Cullinan Mine – South Africa
|
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
21 |
Variance |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
80.0 |
80.4 |
-1% |
321.3 |
250.6 |
+28% |
Diamonds sold |
Carats |
617,677 |
715,032 |
-14% |
1,899,011 |
2,261,058 |
-16% |
Average price per
carat |
US$ |
129 |
112 |
+15% |
169 |
111 |
+53% |
|
|
|
|
|
|
|
|
ROM
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,090,897 |
1,220,351 |
-11% |
4,451,515 |
4,614,802 |
-4% |
Diamonds produced |
Carats |
362,249 |
459,198 |
-21% |
1,609,925 |
1,761,490 |
-9% |
Grade1 |
cpht |
33.2 |
37.6 |
-12% |
36.2 |
38.2 |
-5% |
|
|
|
|
|
|
|
|
Tailings
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
62,844 |
118,327 |
-47% |
413,550 |
445,538 |
-7% |
Diamonds produced |
Carats |
28,056 |
38,399 |
-27% |
205,050 |
182,452 |
+12% |
Grade1 |
cpht |
44.6 |
32.5 |
+38% |
49.6 |
41.0 |
+21% |
|
|
|
|
|
|
|
|
Total
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,153,741 |
1,338,678 |
-14% |
4,865,065 |
5,060,339 |
-4% |
Diamonds produced |
Carats |
390,305 |
497,597 |
-22% |
1,814,975 |
1,943,942 |
-7% |
Note: 1. Petra is not able to precisely measure
the ROM / tailings grade split because ore from both sources is
processed through the same plant; the Company therefore
back-calculates the grade with reference to resource
grades.
Finsch – South
Africa |
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
21 |
Variance |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
60.9 |
37.3 |
+63% |
165.7 |
123.4 |
+34% |
Diamonds sold |
Carats |
467,195 |
441,744 |
+6% |
1,402,654 |
1,602,312 |
-12% |
Average price per
carat |
US$ |
130 |
84 |
+54% |
118 |
77 |
+53% |
|
|
|
|
|
|
|
|
ROM
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
650,670 |
528,139 |
+23% |
2,730,197 |
2,311,195 |
+18% |
Diamonds produced |
Carats |
269,828 |
288,305 |
-6% |
1,274,961 |
1,237,219 |
+3% |
Grade1 |
cpht |
41.5 |
54.6 |
-24% |
46.7 |
53.5 |
-13% |
|
|
|
|
|
|
|
|
Tailings
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
2,784 |
0 |
+100% |
2,785 |
0 |
+100% |
Diamonds produced |
Carats |
362 |
0 |
+100% |
362 |
0 |
+100% |
Grade1 |
cpht |
13.0 |
0 |
+100% |
13.0 |
0 |
+100% |
|
|
|
|
|
|
|
|
Total
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
653,454 |
528,139 |
+24% |
2,732,982 |
2,311,195 |
+18% |
Diamonds produced |
Carats |
270,190 |
288,305 |
-6% |
1,275,323 |
1,237,219 |
+3% |
Note: 1. Petra is not able to precisely measure
the ROM / tailings grade split because ore from both sources is
processed through the same plant; the Company therefore
back-calculates the grade with reference to resource
grades.
Koffiefontein – South Africa
|
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
21 |
Variance |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
5.0 |
5.1 |
-1% |
21.5 |
27.9 |
-23% |
Diamonds sold |
Carats |
10,043 |
21,698 |
-54% |
36,950 |
66,650 |
-45% |
Average price per
carat |
US$ |
500 |
233 |
115% |
581 |
419 |
39% |
|
|
|
|
|
|
|
|
ROM
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
73,194 |
130,214 |
-44% |
466,957 |
754,369 |
-38% |
Diamonds produced |
Carats |
5,102 |
9,050 |
-44% |
35,302 |
59,151 |
-40% |
Grade |
cpht |
7.0 |
7.0 |
0% |
7.6 |
7.8 |
-4% |
|
|
|
|
|
|
|
|
Total
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
73,194 |
130,214 |
-44% |
466,957 |
754,369 |
-38% |
Diamonds produced |
Carats |
5,102 |
9,050 |
-44% |
35,302 |
59,151 |
-40% |
Williamson – Tanzania
|
Unit |
Q4
FY 22 |
Q4
FY 21 |
Variance |
FY
22 |
FY
21 |
Variance |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
33.3 |
0 |
+100% |
75.9 |
4.6 |
1,564% |
Diamonds sold |
Carats |
110,386 |
0 |
+100% |
197,756 |
30,339 |
552% |
Average price per
carat |
US$ |
301 |
0 |
+100% |
384 |
150 |
155% |
|
|
|
|
|
|
|
|
ROM
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,231,082 |
0 |
+100% |
3,591,099 |
0 |
100% |
Diamonds produced |
Carats |
80,194 |
0 |
+100% |
228,070 |
0 |
100% |
Grade |
cpht |
6.5 |
0 |
+100% |
6.4 |
0 |
100% |
|
|
|
|
|
|
|
|
Total
production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,231,082 |
0 |
+100% |
3,591,099 |
0 |
100% |
Diamonds produced |
Carats |
80,194 |
0 |
+100% |
288,070 |
0 |
100% |
[1] Petra classifies ‘Exceptional Stones’ as rough diamonds that
sell for US$5 million or more
each
[2] Stated after cash and diamond debtors