Petra Diamonds sees no shiny short-term future
With more than R11bn of debt hanging over the company, the difficulties have been compounded by the global Covid-19 pandemic
From November 2016, the lack of faith in Petra Diamonds’ direction and leadership became clearly apparent. Since that month the shares in the London-listed company have dropped from 138p to less than 2p on Monday.
Petra, which has three mines in SA and one in Tanzania, is now up for sale, either as a whole or piecemeal.