26-9-2019
Petra Diamonds recovers a 20.08-carat blue gem-quality diamond from its Cullinan mine with no forecast on the price given yet.
The diamond miner reported a 22 percent fall in profits and a 6 percent decline in total revenue for the 2019 fiscal year. “With Petra’s balance sheet under focus, the recovery and sale of special diamonds incremental to cash flow forecasts represent a positive for the stock,” said BMO analysts Edward Sterck. “For reference, a 30-carat blue diamond from Cullinan was sold for US$26 million in 2014.”
In 2015, Petra sold “The Blue Moon of Josephine”, a 29.6-carat blue diamond, for $48.5 million, marking a world record price per carat for any diamond at the time.
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