Wednesday, September 17, 2014

Petra Sells 122.52-Ct Blue Diamond For $27.6 Million

Petra Diamonds Limited has sold the 122.52-carat blue diamond it recovered from the Cullinan mine in June for $27.6 million, or $225,269 per carat. The stone was sold to a beneficiation partnership comprising Petra (15 percent) and its polishing partner (85 percent) who wishes to remain anonymous.

The polishing partner will settle its 85 percent of the agreed rough sales partnership value ($23.5 million) immediately and Petra will record this sum as revenue in its Q1 FY 2015 results. The stone will be cut and polished and upon sale of the polished stone, Petra will receive its 15 percent share of the proceeds, after beneficiation and related expenses.



See ----->http://pennystockjournal.blogspot.ca/2014/06/petra-finds-exceptional-122-carat-blue.html
See ----->http://pennystockjournal.blogspot.ca/2014/08/blue-moon-diamond-at-la-natural-history.html
See ----->http://pennystockjournal.blogspot.ca/2014/02/petra-sells-vivid-blue-296-carat.html
See ----->http://pennystockjournal.blogspot.ca/2014/02/blue-diamonds.html