74.7 Carat Stone Recovered at Koffiefontein

Petra Diamonds has announced the results of the second sale of diamonds recovered at the Koffiefontein mine: 11,548 carats were sold for a total sum of $4.85 million.

An exceptional stone of 74.7 carats was sold for $ 1, 012,636 at $13,556 per carat. This is the first diamond sold by Petrafor morethan $1 million.

The average value for the 11,548 carats (including the 7.47 stone) was $240 per carat.

Petra`s Chairman, Adonis Pouroulis, noted: "Koffiefontein is renowned for the exceptional quality and value of its diamonds and, based on the consistently high average values per carat achieved in the two recent tenders, Petrahas substantially upgraded its management revenue expectations for the mine."