Petra sells 99,43ct diamond for $1,3m

Petra Diamonds Limited announces the sale of an exceptional 99.43 carat diamond, recently produced from the Company’s Sedibeng mine, South Africa. The stone has been sold for US$1,305,009 (equivalent to US$13,125 per carat).

In September 2007 the Company announced the sale of a 74.7 carat stone (produced from the Koffiefontein mine) for US$1,012,636 (US$13,556 per carat), which was the first ever diamond produced by Petra that sold for more than US$1 million. This 99.43 carat stone is now the most valuable stone produced in Petra’s history.

Petra also announces the sale of another exceptional stone from Koffiefontein. A 51.88 carat stone was recently sold for US$780,580, equivalent to US$15,046 per carat. This is an outstanding value per carat for a kimberlite mine and stands as testimony to the quality of stones being produced from Koffiefontein.

Adonis Pouroulis, Chairman of Petra, said in a statement, ‘To sell the most valuable diamond ever in Petra’s history is a very fitting end to what has been a remarkable year for the group. Given all the very positive developments of 2007, and indeed the last few weeks with the acquisition of the Cullinan diamond mine, I look forward to our prospects for 2008 with great confidence.’

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