Recovery of 41.82 carat Type IIb blue diamond at Cullinan Mine

Summary by AI ^BETAClose X

Petra Diamonds Limited has announced the significant recovery of a 41.82 carat Type IIb blue diamond, noted for its exceptional colour and clarity, from its Cullinan Mine in South Africa. The company is currently evaluating the stone and determining the optimal sales strategy, with further marketing announcements to follow. This discovery highlights the Cullinan Mine's reputation for yielding rare and valuable blue diamonds, a factor that could positively influence investor sentiment.

Disclaimer*

FOR IMMEDIATE RELEASE.

13 January 2025

LSE: PDL

Petra Diamonds Limited

("Petra", "the Company" or "the Group")

Recovery of 41.82 carat Type IIb blue diamond at Cullinan Mine

Petra Diamonds Limited is pleased to announce that it has recovered a 41.82 carat Type IIb blue diamond of seemingly exceptional quality in terms of both its colour and clarity at the Cullinan Mine in South Africa.

The Company is in the process of analysing the stone and ascertaining the preferred method of the sale of this stone. Further announcements with regards to the marketing of this stone will be made in due course.

The Cullinan Mine is known for the recovery of very rare and highly valuable blue diamonds. Further information on the heritage of the Cullinan mine and its diamonds can be found at: https://www.petradiamonds.com/our-business/our-operations/cullinan-mine/

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Robin Storey, General Counsel & Company Secretary.

For further information, please contact:

Petra Diamonds, London

Julia Stone

Kelsey Traynor

Telephone: +44 (0)7495470187

investorrelations@petradiamonds.com

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a supplier of gem quality rough diamonds to the international market. The Company's portfolio incorporates interests in two underground mines in South Africa (Cullinan Mine and Finsch).

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base which supports the potential for long-life operations.

Petra strives to conduct all operations according to the highest ethical standards and only operates in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities.

Petra's Ordinary Shares are admitted to the equity shares (commercial companies) category of the FCA's Official List and are admitted to trading on the Main Market of the London Stock Exchange under the ticker "PDL". The Company's loan notes, due in 2026, are listed on Euronext Dublin (Irish Stock Exchange). For more information, visit www.petradiamonds.com .