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Petra Climbs to Record on Accord to Buy De Beers Mine
Jan. 21, 2011 12:23PM PST
Gem InvestingBloomberg.com reports that shares in Petra Diamonds (PINK:PDMDF) jumped after news that they will purchase a mine from de Beers.
Bloomberg.com reports that shares in Petra Diamonds (PINK:PDMDF) jumped after news that they will purchase a mine from de Beers.
The story is quoted as saying:
Petra rose 11 percent to 180 pence, the highest price since starting to trade in May 1997, after agreeing to acquire the Finsch project in the Northern Cape province. The mine will produce more than 1.5 million carats in its first full year of operation, adding to Petra’s current 1.3 million-carat output, the company said today in a statement.
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