http://www.iii.co.uk/investment/detail?code=cotn:EFD.L&display=news&it=le

Another good rise this am

Petra on track for production targets13-01-2010 08:03

Africa focused diamond producer Petra Diamonds said confidence in the rough diamond market has returned in the last six months and the group is on track to achieve its production target of 1.2m carats for 2010.

Petra said it has sold 572,227 carats in the six months to 31 December, up 55% from the same time a year earlier when it sold 368,296 carats.

Gross mine revenue for the period was up 32% to $62.4m.

Chief executive officer Johan Dippenaar said, "Petra has continued to consistently meet its operational targets and our production growth is on track as targeted for the 2010 financial year. The rough diamond market has improved significantly over the last six months and we have seen prices come back strongly at each of our six producing mines."

"Retailers and cutting centres will soon need to replenish their inventories in order to satisfy increased demand as global economic recovery continues," he said