Announcements



Final Results

2 October 2006

Highlights

Angola

  • Project Alto Cuilo ('Alto Cuilo') - exceptional exploration progress continued with a substantial increase in the number and surface area of kimberlite discoveries; analysis of drill core revealed exceptional indicator mineral chemistry, comparative to some of the world's major economic mines; as at 30 June 2006, funding of US$22.8 million advanced by BHP Billiton (budget of US$20 million approved for the year to June 2007, also to be funded by BHP Billiton)
  • Petra enters into Strategic Cooperation Agreement with AIM-quoted Xceldiam Limited ('Xceldiam') with regards to Project Luangue

Botswana

  • Acquisition of Kalahari Diamonds Limited in September 2005
  • Petra's operations in Botswana fully integrated into the Petra Group
  • Petra's technical team put in place a revised Kalahari exploration programme, with the focus on larger as well as smaller kimberlite identification

Sierra Leone

  • Kono project in Sierra Leone commences small scale production in June 2006, on time and on budget
  • Petra has met its funding requirements to earn a 51% interest in the project
  • Work programme to accelerate in order to better determine the grade and extent of the resource, and to enable increased production

South Africa

  • Production of 175,011 carats from the South African mines for the year to 30 June 2006 (2005: 143,673 carats), an increase of 21.8%
  • The South African mines generated an operating cash flow of US$677,000 for the year to June 2006
  • Diamonds of 76 and 67 carats recovered from the Sedibeng mine, the stones being sold for US$465,000 and US$704,265 respectively

Post year-end Highlights

Corporate
  • Petra issued a US$20 million unsecured, interest free bond, convertible at 130 pence per share, to Al Rajhi Holdings W.L.L., a major Saudi Arabian based investment group; the financing strengthens Petra's treasury on an interest free basis, giving Petra the flexibility to act quickly on potential growth opportunities
Angola
  • Project Alto Cuilo - identification of the 50th kimberlite; bulk sample drill and plant on site, with the bulk sample rig commissioned and drilling underway

Adonis Pouroulis, Chairman, said; 'I am delighted to report on the progress we have made over the past year. Petra has continued to grow, strengthening our position within the market place whilst significantly expanding our prospects on the ground. We continue to be very encouraged by the favourable prospects for the diamond industry globally and believe that the diamond fields of Africa offer some of the most exciting opportunities available. I am confident that with the range of our portfolio and the depth of the skills base now within the group, we are positioned to maintain our rate of growth.'

For further information, please contact:

Parkgreen Communications, London

Cathy Malins / Annabel Leather
Telephone: +44 (0) 20 7493 3713

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© 2010 Petra Diamonds
Summary of Results (unaudited)
 2006
US$		2005
US$
Revenue *20,868,7572,275,245
Gross profit on mine - South African operations **3,320,887768,258
Exploration expenses **(2,056,395)(6,422,352)
Administration expenses(6,481,669)(3,963,956)
Loss before depreciation, amortisation and foreign exchange movements(5,330,698)(9,954,745)
Loss for the year(18,864,456)(21,018,778)
CAPEX8,222,6112,722,187
Cash at bank7,019,64427,591,394
* 2005 Revenue - June only, post Crown merger effective 31 May 2005
** Gross profit and exploration expenses before depreciation and amortisation
Loss per share (cents)(13.11)(28.43)
Production (carats) ***175,011143,673
*** Production for the 12 months to 30 June 2005