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Petra Diamonds Recovers 67 Carat Diamond
Sydney, Mar 13, 2006 (ABN Newswire) - Petra Diamonds Limited (ASX: PDL)(LSE: PDL), the AIM-quoted and ASX-listed diamond mining group, announces the recovery of a 67.1 carat diamond from its South Africa operations. The diamond is of high quality and is expected, on sale, to realise a significant value.
This stone is in addition to the 76 carat diamond recovered in November 2005 which was sold for US$465,000.
Johan Dippenaar, Petra's CEO, commented, 'We are delighted to announce the recovery of another exceptional stone. Recoveries such as this, combined with the production growth being achieved from the South African mines in an environment of stringent cost control, give a sound platform for Petra's operating results going forward.
Whilst such recoveries cannot be guaranteed on a regular basis, the improvements to the mining methods put in place over the last six months increase our expectation of further such recoveries.'
About Petra Diamonds Limited
Petra is a diamond mining group focused on the exploration and mining of diamonds in Africa. Petra's strategy is to build a portfolio of revenue producing and exploration assets, achieving the objective of becoming a successful mid-tier diamond producer and explorer. Petra has operations in Angola, South Africa and Sierra Leone. Quoted on London's Alternative Investment Market (AIM), Petra is well placed to achieve spectacular results from the increasingly robust market for diamonds. The recent merger with ASX-listed Crown Diamonds creates a new force in the diamond industry, building shareholder value through exploration and production expertise.
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