Its getting there......

I've bought a few of these as news should be due soon and hopefully the sp will repeat last january's rise. looks very promising to me-why is this thread so quiet??

Taken from another BB

Petra Diamonds - Collins Stewart initiates coverage

Petra Diamonds is an AIM and ASX listed diamond mining and exploration company with a portfolio of assets across Africa. The company currently operates three mines in South Africa and plans to bring a fourth into production in Sierra Leone during 2006. It also has an interest in the world class Alto Cuilo kimberlite project in Angola, which is subject to an agreement with BHP Billiton, (BHPB), and has 80,000km2 of exploration holdings in Botswana, the world's largest producer of diamonds by value.

Analysis
Petra's three South African mines were acquired through a merger with Crown Diamonds in 2005. They have a combined resource of 4.2Mct at an average grade of 60cpht hosted within narrow kimberlitic fissure systems. The company is committed to a programme of expansion and modernisation at the mines that will increase attributable production to 330kct/y.

The company has an agreement with Mano River Resources through which it will bring the Kono project in Sierra Leone into production during 2006. Petra is earning a 51% interest in the high-grade deposit that should ultimately produce 190kct/y from a kimberlitic dyke system.

Petra's most significant exploration asset is an interest in the world class Alto Cuilo diamondiferous kimberlite in Angola. This is an agreement with BHPB, with the major earning its interest through spending US$60m on exploration.

Just one of the kimberlites at the project covers 109ha and hosts 115Mt at an estimated grade of 47cpht, sufficient to produce 5.0Mct/y for 10 years. It is likely that the mine will cost US$600m to build and that Petra will end up covering 35% of the capital expenditure in return for 20% of the equity with the local partners accepting dilution in return for a free carry.

The company also acquired Kalahari Diamonds in 2005, giving it access to 80,000km2 of highly prospective ground in Botswana and BHPB's Falcon technology.

Action
The diamond market remains extremely strong and high prices are expected to be maintained over the long-term as new supply is unlikely to be able meet increasing demand. Petra is therefore extremely well positioned and has the potential to develop into a mid-tier diamond mining company with 425kct/y of production underpinning the very substantial upside in both Botswana and Angola. We set a short-term price target of 121p, although this takes no account of further exploration success at either Alto Cuilo or in Botswana.

I do like these, dam dam dam, I'm adding

stop watching and buy them, agree 120-150 seems possible

It's looking bullish could spurt to 100p if we break 80p convincingly!

Saad Investments Company Limited have moved their holding from 9,840,178 to 12,000,000. Thats an additonal 2million, so have some faith in PDL, SO HAVE I and can see 100p on the horizon.

at .5m usd a time fo 67 carats, a nice way to beef up the profits!

Looking good guys! nice update

80! 90 next

Hope PDL can test prev. high95p.soon,ellio.

it has a good feel and is moving up gently, its gone through 80 relatively quck so 90-95 must be close, it'll be interesting to see where the resistance is my guess is 95.

I like the technicals on this. Moving averages about to cross, just cleared resistance, needs a bit more for a breakout I think but perhaps basking in the afterglow of AFD's rise last week, which I missed

Results are pretty good and very encouraging

LONDON (AFX) - AIM-listed Petra Diamonds Ltd said its pretax losses narrowed in the six months to end December 2005 as turnover jumped.

Interim pretax losses narrowed to 1.1 mln stg from 4.3 mln in the previous six months and 7.2 mln in the year-earlier period.

Revenue jumped to 5.5 mln stg from 1.2 mln in the year-earlier period as production rose 13 pct to 88,640 carats.

'As production increases at our mines in South Africa, so too will our revenue streams, whilst we progress our exciting exploration projects and commence production in Sierra Leone,' said chairman Adonis Pouroulis.

Petra's South African operations produced just over 167,000 carats for the 2005 calendar year and are on track to produce 200,000 carats for the year to June 2006. The next six month period is expected to see increasing production from the mines in South Africa without a significant increase in operating costs, it said.

'Although the rough diamond market experienced a dip in the last quarter of the year, in that prices achieved were below those for the six months to June 2005, the market has since recovered somewhat as demand for rough (diamonds) continues to outpace supply,' it said.

We have lift off. Shame I sold in the 70's

Hello, I ve just got some pdl shares this week, I liked the prospect that the diamond production is due to start some time in June. Earlier last week or so I had read an interesting article in the IC mag relating to diamond miners. I was just waiting to dive in at the right price.

I believe the diamonds are going the next 'thing' the chinese will want, the supply is getting scarce and will not be able to meet the demand, the price diamonds will start to rise...IMO of course.

Do anyone have shares in FDI, I 've got those this week as well!

Does anyone know why this is climbing for the past few weeks? It appears to be getting stronger

R88AVE

You have not yet had an answer to your question but the climb still continues! I would also like to know any relevant news driving the SP.

On another point, PDL has signalled its intention to de-list from ASX, RNS 7th Dec. As far as I am concerned this is particularly bad news since my holding is in an ISA wrapper so will be forced to sell when this happens. How long does the taxman allow for a sale to take place after a de-listing?

Ray

I have jumped on board at 145p, in which I wish i should have done back in October! You should check out the price risk factor. Its is still low around 70 plus despite the fact the sp has risen quite considerable amount in the past few weeks. I also liked the fact that the that have commenced their bulk testing last October and the results are due any moment now. Hence maybe thats why there been a lot of big trades going through at full asking price, something must be looking good.
Personally I dont see the delisting of share from ASX is bad thing at all. It will save the company money. I would consider you to spent a bit more in your research.

Also This is probably the reason why the investor are getting excited with the Angola project:

http://www.mineweb.net/junior_mining/521316.htm

Ray

Also found interesting article!

http://www.miningweekly.co.za/min/news/today/?show=91403

R88AVE,

Thanks! Looks most promising although Maxwell is playing it cool. Nothing formal yet but would look to PDL for RNS soon to explain SP rise.

I would agree with you in principle regarding ASX de-listing, it is just personal since PDL was one of only a few AIM stocks that can be held in an ISA. About time Gordon Brown removed the restriction on AIM, particularly with so many companies moving there from the main list.

Ray are still holding rns out re Angola project looks very positive

http://moneyam.uk-wire.com/cgi-bin/articles/200612201309113464O.html