Its getting there......

R88AVE

Thanks for digging out this promising info, now wait to see what the New Year brings and perhaps some direct news from Petra.

Ray A I am pretty excited with the developments so far looks like 2007 will be an interesting one especially when the full scope on Angola project findings are completed. This project could be worth billions alone, hence BHP Billiton JV budget $60m into the project gives the taste of expected revenue in return.

Long 151, the charts is looking ready to rise again, fairly big volume in past two days.

A whole year without a single blog, sp right in the dip now !

This must be the cheapest Diamond company in the world, profits going forward look fantastic, must be due for a rise as they say that the power cuts are not affecting them, I took a position this morning just before the last rise, hope I got this right !

FDI rocketing this morning, hope this one does the same !

Cannot believe the drop here...beggars belief (as so to speak) !

Still dropping....diamonds not in favour any more ?

Hello, hello....what spiked this up along with impressive volume today then?

Hey up has the bull woken up today then?
Look like good bullish reversal trend is in the making imo.

Well, well, well,....3 holes in the ground...!, this has woken up at long last....another undervalued stock !.

Anybody, any idea why the rocket like rise in the past few days....? takeover rumour ?, If I was one of the majors ...this would be in the line of fire !.

Petra Diamonds swings to annual profit
MoneyAM
Petra Diamonds Ltd moved to an annual profit after it bought South African mines from De Beers, it said today.

The miner posted a net profit after tax for the year to end June of $1.9m from a loss of $20.9m the previous fiscal year.

The firm said the main reason for the turnaround in profit was the contribution from the Koffiefontein mine it bought from De Beers.

'The success at Koffiefontein clearly demonstrates our distinctive ability to turn such mines to account, and we look forward to achieving similar results at these acquisitions,' Chairman Adonis Pouroulis said in a statement.

The other mines it has purchased from the world's largest diamond producer, Cullinan and the Kimberley underground operations in South Africa and Williamson in Tanzania, will come on stream this financial year, it said.

The company boosted output 11% to 200,287 carats and expected a huge increase during the current year.

'Fivefold production increase expected to over 1 million carats for FY 2009 with the new mines coming on stream,' it said.

The firm also announced a major increase in its resource base, jumping to 265 million carats, worth $27.3bn, from 11.38 million carats worth $1.9bn about a year ago.

Petra posted a 352% increase in revenue to $76.9m and EBITDA (earnings before interest, tax, depreciation and amortisation) of $25.5m versus a loss of $5.2m last year.

The firm said it had a good start to the current fiscal year, receiving attributable revenue of $14.8m from its first tender, comprising sales from eight weeks of production at Koffiefontein and its fissure mines, as well as the first four weeks of production at Cullinan.

Are SAAD lining up a takeover, at what price??, or just investing.


The Company was notified today that following recent purchases Saad Investments Company Limited now holds 70,155,430 ordinary shares in the Company, representing approximately 38.1% of the Company's ordinary issued share capital.

Petra Diamonds Limited is a Bermuda registered company and as such is not subject to the Takeover Code and accordingly there is no obligation for a mandatory offer under the Rules of the Takeover Code by any shareholder increasing their holding above 30% of the Company's issued share capital.

Petra abandon Alto Cuilo, cut back exploration!

Click HERE

Sold out of these at a loss some time ago now,.....what bad times we have today !.

Diamonds have no value in recession. Gold is more valuable.

Mine revenues strong at Petra Diamonds

http://www.growthcompany.co.uk/news/1603593/mine-revenues-strong-at-petra-diamonds.thtml

interesting chart with a clear and very stubborn resistance at the all-time high +/-180 ..... on the basis that that could/should be cleared next time around, then it could be champagne cork syndrome ..... def worth watching i think

having jumped into new territory, i have married money and mouth .... order book looks pretty strong at the moment too