Its getting there......

:>) Hils

Macca,i see your pdl has got a tip for 2005 from that rag mag.

Its having another go

Christmas 2005 it is then.

only another 5p to go....

It was in one of the sundays yesterday macca,looks nailed on.

sorry DD, I didnt buy the Sunday Sport

Petra Diamonds buys Crown Diamonds in reverse takeover
AFX

LONDON (AFX) - Petra Diamonds Ltd, an AIM quoted diamond mining company, has conditionally agreed to merge with Crown Diamonds NL, buying the entire issued equity of Crown.

The all share transaction, which is subject to regulatory and shareholder approval, values Crown at 35.3 mln stg and Petra will as a result have a dual listing in Australia and London.

Petra will issue 37.2 mln new shares to Crown with the latters shareholders to get one Petra share for every 8 Crown shares.

Because the merger represents a reverse takeover, Petra has been suspended from trading on the AIM.

Johan Dippenaar is to be appointed chief executive of teh emrged group.

Details of proposed merger

Tens of Millions of new shares + a company that is operating at a loss = relisting at +/-45-50p:-(

Relax poes ...... it's a very good deal which should enable them to better realise their prospects and turn them more towards being a production company. Imo of course.

hilary, how many reverse takeovers result in the relisting at a higher price? - fuckall.

I can think of quite a few actually, but wdik?

This deal has been on the cards for ages. It's something that Adonis has been working towards since the Oryx deal was aborted a few years ago. It had to happen sooner or later and if you couldn't see it happening, you shouldn't be invested!

hilary - dont now make out that you new about it before what absolute rubbish. You always get the 'I new it was going to happen' after the event bullshit, why wold anyone believe you? Maybe a couple of examples to backup your claim re reverse takeovers. Thanks.

Get a life, poes!

Have you ever bothered to pick up the phone and speak to Adonis himself? Have you ever met him when he's been in London? Half of Cannon Street leak his news out days before it happens. It's got to be one of leakiest stocks on AIM.

And no, I didn't know that it was going to happen today. Nor this week. Nor this month even, for this matter. But it was a no-brainer that it was going to happen before not too long.

And I don't know why you're getting so stressed about it. Petra need money to realise the full potential of Alto Cuilo, without which they could end up give AC away for peanuts or, worse, go bust. This is a good deal, imo. Do you actually know anything about the mechanics of a reverse takeover?

Where are your examples hilary?

Tens of millions of more shares + a company that is running at a loss + placing to institutional investors = disaster for the share price.

It just gets better and better. 5 by christmas

Mano River Resources Inc
23 February 2005


MANO RIVER RESOURCES INC.

NEWS RELEASE

23 February 2005
No: 2005/04

TSX Venture Exchange (TSX-V) Trading Symbol: MNO
London Stock Exchange - AIM Trading Symbol: MANA

MANO RIVER WELCOMES PETRA DIAMONDS AS ITS NEW PARTNER ON THE KONO KIMBERLITE
MINING PROJECT IN SIERRA LEONE

Mano River reports that is pleased to welcome Petra Diamonds as its new partner
on its Kono kimberlite project in Sierra Leone.

Petra Diamonds and Crown Diamonds recently announced that, subject to stock
exchange and shareholder approval, the two companies had merged to form a larger
diamond exploration and mining entity, listed on both the London AIM and
Australian ASX Exchanges. The new Petra, which incorporates Crown's producing
expertise and Petra's African exploration expertise, results in an entity that
will enhance the likelihood of success in the existing Mano joint venture and
expand the scope for future deals.

At recent meetings held in Cape Town between the managements of Mano and Petra,
during the INDABA Conference, the new board of Petra Diamonds confirmed that the
joint venture with Mano remains a fundamental part of their company expansion
plans and that they remain fully committed to the kimberlite mining programme in
Sierra Leone. Furthermore, Petra indicated that they are considering an
accelerated programme of development of the extensive diamondiferous dyke swarm
contained within Mano's licences, with work expected to commence in the very
near future.

On behalf of the Board of Mano River Resources Inc.
Tom Elder
President and CEO

Petra Diamonds Ld
31 March 2005
Petra Diamonds Limited ('Petra' or 'the Company')
Chairman's Statement and Interim Results to 31 December 2004

The period since my last Chairman's letter, published in December 2004, has been
very productive for the Company as we have moved significantly closer to
achieving our goal of building a diamond group that combines successful
producing mines with quality exploration assets. With exciting prospects ahead
of us, I report the interim results for the six months to 31 December 2004.

Results
The loss for the period amounted to 4,197,050 (2003: loss 1,799,734) stated
after operating charges of 3,646,031 (2003: 1,458,980) and net financing costs
of 551,019 (2003: 340,754).

The increased loss over the comparative period was due to the level of activity
and associated expenditure at the Alto Cuilo project for the six month period,
which led to significant exploration developments. The Company's expenditure on
Alto Cuilo will not remain at these levels from January 2005 due to an important
development with regards to the joint venture with BHP Billiton World
Exploration Inc ('BHP Billiton') as set out below.

Net financing costs arose due to exchange movements on the restatement of
borrowings within the Petra group.


Proposed Merger with Crown Diamonds
On 8 February Petra Diamonds announced its proposed merger with Australian
listed Crown Diamonds NL ('Crown'). This transaction is a significant step
towards our long-term objective of becoming a significant player in the diamond
industry with a combination of quality producing mines and an impressive
exploration base. On completion of the merger, the enlarged Petra group will be
dual listed on AIM and the ASX, enhancing liquidity and aiming to increase the
scope of institutional investor interest due to asset base and market
capitalisation.

As noted when the proposed merger was announced, the transaction constitutes a
Reverse Takeover under the AIM rules. The Company's shares are currently
suspended from trading on AIM until such time as an AIM Admission document
relating to the proposed merger is published. Work is progressing well on the
preparation of the various documents and we will publish the AIM document and
return to trading in the near future.

Crown's current producing diamond assets are all situated in South Africa. They
encompass Helam, Star and the Messina/Dancarl joint venture. All three of these
diamond operations are kimberlite fissure mines with life of mine in excess of
15 years each and all three produce high quality diamond gem stones. It is
estimated that the Crown operations will produce in excess of 167,000 carats of
gem quality stones in 2005.

Crown has also agreed a joint venture with AIM and TSX listed Mano River
Resources Inc concerning the Kono diamond project in Sierra Leone, a kimberlite
project with several identified fissures from which small scale production is
envisaged during the next twelve months. Initial indications show good
geochemical results with a fissure strike length greater than Crown's current
producing mines.

Crown also brings with it an experienced management team which is highly skilled
in diamond mining production in South Africa. The two management teams together
will have the depth and knowledge to develop diamond opportunities anywhere on
the African continent.

Alto Cuilo and BHP Billiton
Further, I am pleased to announce an important development with regards to the
joint venture with BHP Billiton regarding the Alto Cuilo diamond project in
north eastern Angola.

The joint venture agreement between Petra and BHP Billiton included an option
with regards to BHP Billiton's funding of the project, and I am delighted to
advise you that BHP Billiton have formally elected to fund the Alto Cuilo
kimberlite exploration programme, with this funding taking effect from 1 January
2005. The election by BHP Billiton represents important progress for the project
and for Petra and we look forward to working with BHP Billiton in moving the
exploration programme ahead over the coming months.

Drilling continues at Alto Cuilo and as at the end of February 2005 diamond core
drilling had been completed at 43 sites, with a total 6,436 metres having now
been drilled.

Since commissioning of the diamond recovery plant (MB100 and DMS) in September
2004, alluvial gravels from the Luangue river and kimberlitic material from the
AC2 complex continued to be treated by the plant and as of 26 February 2005,
4,927 macro diamonds have been recovered with a total mass of 1,241 carats.


Conclusion
Petra Diamonds is at a pivotal stage in its development and considerably closer
to achieving its objective of becoming a significant producer of diamonds with a
balanced portfolio of cash flow positive, producing mines combined with the '
blue sky' of high quality exploration assets. The merger with Crown and the
support of BHP Billiton puts the Company in a strong position to create a
geographically diversified diamond group with a substantial asset base and
market capitalisation, giving the Company the potential to become a niche
mid-tier producer of rough diamonds.


Adonis Pouroulis, Chairman
31 March 2005
For further information, please contact:

Kevin Dabinett / David Abery Justine Howarth / Cathy Malins

Petra Diamonds Parkgreen Communications

Tel: +27 11 467 6710 Tel: +44 20 7493 3713


PETRA DIAMONDS LIMITED
UNAUDITED CONSOLIDATED INCOME STATEMENT
FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2004
Unaudited Unaudited Audited
1 July 2004 1 July 2003 1 July 2003
31 December 31 December 30 June
2004 2003 2004


Other operating income - - 4,424

Other operating charges (3,646,031) (1,458,980) (3,978,460)

Group operating loss (3,646,031) (1,458,980) (3,974,036)

Net financing costs (551,019) (340,754) (245,827)

Loss before and after taxation for the (4,197,050) (1,799,734) (4,219,863)
financial period

Basic and diluted loss per share - pence (6.17) (3.48) (7.45)


UNAUDITED CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2004


Unaudited Unaudited Audited
1 July 1 July
2004- 31 2003 1 July 2003
December 2004 31 December 30 June 2004
2003

Loss for the financial period (4,197,050) (1,799,734) (4,219,863)

Exchange adjustments on translation of subsidiary 475,979 293,229 153,094
and
branch undertakings recognised directly in equity

Total recognised gains and losses relating to the (3,721,071) (1,506,505) (4,066,769)
financial period



PETRA DIAMONDS LIMITED



UNAUDITED CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 2004


Unaudited Unaudited Audited
31 December 2004 31 December 2003 30 June 2004

ASSETS
Property, plant and equipment 2,301,919 493,033 1,782,408

Intangible assets 80,281 78,440 79,576

Investment in associates - - -

Total non-current assets 2,382,200 571,473 1,861,984

Other receivables 615,970 306,917 550,838

Cash at bank and in hand 452,466 285,828 3,766,852

Total current assets 1,068,436 592,745 4,317,690

Total assets 3,450,636 1,164,218 6,179,674

EQUITY AND LIABILITIES

Equity

Issued capital 6,926,954 5,184,997 6,784,998

Share premium account 19,746,615 12,920,899 18,834,587

Foreign currency translation reserve 2,115,057 1,779,213 1,639,078

Accumulated loss (27,775,175) (21,157,996) (23,578,125)

Total equity 1,013,451 (1,272,887) 3,680,538

Minority interests - - -

Liabilities

Trade and other payables 2,000,000 2,082,176 2,013,620

Total non-current liabilities 2,000,000 2,082,176 2,013,620

Trade and other payables 437,185 354,929 485,516

Total current liabilities 437,185 354,929 485,516

Total liabilities 2 ,437,185 2,437,105 2 ,499,136

Total equity, minority interests and 3,450,636 1,164,218 6,179,674
liabilities


PETRA DIAMONDS LIMITED
NOTES TO THE INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2004

1. The interim results, which are unaudited, have been prepared in
accordance with International Financial Reporting Standards (IFRS) adopted by
the International Accounting Standards Board (IASB).

The unaudited interim financial statements for the six months ended 31 December
2004 do not constitute statutory accounts within the meaning of section 240 of
the Companies Act 1985 and have been drawn up using accounting policies and
presentation consistent with those applied in the audited accounts for the year
ended 30 June 2004.

The financial information for the year ended 30 June 2004 has been extracted
from the statutory accounts for that period, the auditors report on those
accounts was unqualified.

2. No dividends were proposed or paid during the period.

3. The calculation of basic loss per share is based on a loss for the
interim period of 4,197,050 and on a weighted average of 68,010,371 ordinary
shares of 10p each in issue during the period.

4. Due to losses incurred no taxation has been provided for. Deferred tax
assets on losses have not been recognised as it is not foreseeable with
sufficient certainty that the related tax benefit will be realised.

hilary

Where are your examples?

what price will PDL re-list at?