Petra's Revenue -41% to $96M in 3Q

Mining and Exploration
17/04/2015 03:29

Petra Diamonds reported that revenue fell 41 percent year on year to $96.1 million in the third quarter that ended on March 31. The company sold 826,815 carats during the period, representing a 9 percent decline. Production rose 6 percent to 791,443 carats. During the quarter, the company's beneficiation partner completed cutting and polishing a 122-carat  blue diamond, which yielded 4 exceptional polished stones. Petra will retain a 15 percent share of the sales price of these stones and is currently evaluating the best route to market.