Petra Diamonds Ltd – Sales results for Tender 6 FY 2024 – Company Announcement

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         LSE: PDL

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Petra

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the Company

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Sales results for Tender 6 FY 2024

, Chief Executive Officer of Petra, commented:

“Our sixth tender cycle yielded from the sale of 371kcts. Like-for-like



[1]



prices were marginally down through this seasonally quiet period, being 2.6% lower than Tender 5, with demand slightly muted due to Indian holidays and the continued slow recovery in the Chinese market. We continue to see evidence of stabilisation in the market and are cautiously optimistic that demand and pricing will improve towards the end of


 


this calendar year. We plan to conclude a seventh sales cycle closing before the end of .”

Rough diamond sales results for the respective periods are set out below:

 __________________________________________________________________________
|             |Tender 6|Tender 5|        |Tender 5|YTD        |YTD         |
|             |        |        |        |        |           |            |
|             |FY 2024 |FY 2024 |Variance|FY 20232|FY 2024    |FY 2023     |
|             |        |        |        |        |           |            |
|             |May-24  |Apr-24  |        |May-23  |Tenders 1-6|Tenders 1-52|
|_____________|________|________|________|________|___________|____________|
|Diamonds sold|371,104 |362,132 |+2%     |468,817 |2,821,716  |2,237,010   |
|(carats)     |        |        |        |        |           |            |
|_____________|________|________|________|________|___________|____________|
|Sales (US$   |44      |49      |-11%    |42      |329        |316         |
|million)     |        |        |        |        |           |            |
|_____________|________|________|________|________|___________|____________|
|Average price|118     |136     |-13%    |90      |116        |141         |
|(US$/ct)     |        |        |        |        |           |            |
|_____________|________|________|________|________|___________|____________|
|Revenue from |        |        |        |        |           |            |
|             |        |        |        |        |           |            |
|Exceptional  |0       |0       |0%      |0       |0          |0           |
|Stones1      |        |        |        |        |           |            |
|             |        |        |        |        |           |            |
|(US$ million)|        |        |        |        |           |            |
|_____________|________|________|________|________|___________|____________|

Note 1: Exceptional Stones are defined as rough diamonds that sell for or more each.

Note 2: Given revised tender timings, the comparative sales cycle in FY 2023 was Tender 5 which closed in .

Sales

Total revenue YTD FY 2024 from rough diamond sales is , compared to in the first five tenders of FY 2023, excluding Koffiefontein. Year-on-year volume variances in respect of YTD FY 2023 were affected by the deferral of certain parcels which were sold as part of Tender 1 of FY 2024.

Mine by mine average prices for the respective periods are set out in the table below:

 _______________________________________________________________
|             |Tender 6|Tender 5|           |           |       |
|             |        |        |YTD FY 2024|YTD FY 2023|       |
|US$/carat    |FY 2024 |FY 2024 |           |           |FY 2023|
|             |        |        |Tenders 1-6|Tenders 1-5|       |
|             |May-24  |Apr-24  |           |           |       |
|_____________|________|________|___________|___________|_______|
|Cullinan...