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 $30.2 million at an average price of $88 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%

Copyright 2023 Alliance News Ltd. All Rights Reserved.