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Petra ramp-up slips

Operational issues and strong rand see Petra stumble

Alex Hamer
Slippery ramp: Cullinan produced 139,000ct compared to RBC's estimate of 243,000ct in the 12 months ending June 30

Slippery ramp: Cullinan produced 139,000ct compared to RBC's estimate of 243,000ct in the 12 months ending June 30

Petra had to spend more than anticipated in the year to June 30 and is now having to renegotiate with its bankers over debt covenants that will be tested at the end of the September quarter.  The debt...

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