Detailed Guidance Sheet - FINAL.xlsx

Petra Diamonds
Analyst guidance - Detailed
Published 18 August 2014
Operation
Description
ROM Tonnes (Mt)
Finsch
LOM: Current plan up to 2030
Residual Block 6 resource will extend LOM beyond 2030
(3)
(3)
Direct Ownership : 74%, Effective ownership : 82.4%
Tax Shield: R660m
(7)
LOM Env. Closure Liab: R196m
(5)
BEE Loans Due: R499m
ROM Grade (cpht)
Tailings Tonnes (Mt)
Tailings Grade (cpht)
Cash on mine cost
Fixed / variable split
Cash on-mine cost / ROM tonne
Cash on-mine cost / Tailings tonne
ROM Tonnes (Mt)
Cullinan
LOM: Current plan up to 2030
Residual C-Cut resource to possibly extend LOM +30 years
Direct Ownership (3): 74%, Effective ownership (3): 77.0%
Tax Shield: R1,200m
LOM Env. Closure Liab: R133m (7)
BEE Loans Due: R529m (5)
Koffiefontein
LOM: Current plan up to 2025
Residual resource could further extend LOM
Direct Ownership (3): 74%, Effective ownership (3): 81.4%
Tax Shield: R500m
LOM Env. Closure Liab. R68m (7)
BEE Loans Due: R41m
Kimberley Underground
ca. 244kt stockpile at end of FY 2014
LOM: current plan up to 2026
Residual resource could further extend LOM
Direct Ownership (3): 74%, Effective ownership (3): 86.8%
Tax Shield: R520m
LOM Env. Closure Liab. R92m (7)
BEE Loans Due: R100m
Williamson
ca. 440kt stockpile at end of FY 2014
LOM: Current plan up to 2033
Substantial residual resource at end of current LOM plan
Direct Ownership: 75%, Effective ownership: 75%
Tax shield: US$60m
LOM Env. Closure Liab. US$3m (7)
ROM Grade (cpht)
Tailings Tonnes (Mt)
Tailings Grade (cpht)
Other cost items
FY 2015: 27.3 cpht, ca. 25 cpht in FY 2016 and ca. 22 cpht in FY 2017, as lower grade sections are
treated.
ca. R860m (FY 2015)
80% / 20%
FY 2015: ca. R268 / tonne; reducing to ca. R212 / tonne from FY 2018 onwards due to improved
orehandling systems as well as higher volumes and high fixed cost base.
Remaining flat in real terms at ca. R38 / tonne.
FY 2015: 2.7 Mt; 2.9 Mt in FY 2016, 3.1 Mt by FY 2017, 3 .6Mt by FY 2018 and reaching steady state
production of 4 Mtpa by FY 2019.
FY 2015: 28.4 cpht, ca. 33cpht in FY 2016 (pillar mining, 645L and C-Cut development tonnes), ca. 41
cpht in FY 2017, 46 cpht in FY 2018 and to +50 cpht by FY 2019.
FY 2015 onwards: ca. 2.71 Mtpa
FY 2015: 6.2 cpht, increasing to ca. 7.5 cpht by FY 2016, following commissioning of re-crush circuit.
Cash on mine cost
Fixed / variable split
Cash on-mine cost / ROM tonne
ca. R750m (FY 2015)
80% / 20%
To remain at ca. R237 (real terms) until C-Cut Phase 1 block cave is fully operational, yielding cost
benefits associated with more efficient orehandling systems. Unit cost of ca. R180 / tonne by FY 2019.
Cash on-mine cost / Tailings tonne
ROM Tonnes (Mt)
ROM Grade (cpht)
Ebenhaezer Tonnes (Mt)
Ebenhaezer Grade (cpht)
Cash on mine cost
Fixed / variable split
Cash on-mine cost / ROM tonne
FY 2015: ca. R40 / tonne, remaining flat in real terms.
FY 2015: ca. 0.74 Mt, ramping up to 1.1 Mtpa by FY 2017.
FY 2015: 9.3 cpht. Future ROM grade estimated at ca. 9 - 10 cpht.
FY 2015: 0.8 Mt; mining from Ebenhaezer to continue for two years (FY 2015 included).
ca. 2 - 3 cpht.
FY 2015: ca. R260m
80% / 20%
FY 2015: ca. R270/t, reducing to ca. R210/t at 1.1Mtpa.
Cash on-mine cost / Ebenh. tonne
ROM Tonnes Treated (Mt)
ROM Grade (cpht)
Cash on mine cost
Fixed / variable split
Flat at ca. R80/t.
FY 2015: 1.17 Mt (including stockpile material). Remaining stockpile to be treated in FY 2016. Tonnes
treated to remain at ca. 1.2 Mtpa from FY 2016 onwards.
FY 2015: 14.3 cpht. FY 2016 onwards: grades of ca 13 - 15 cpht.
FY 2015: ca. R270m
80% / 20%
Cash on-mine cost / ROM tonne
Remaining flat at ca. R230 / tonne treated.
ROM Tonnes Mined (Mt)
ROM Tonnes Treated (Mt)
FY 2015: 3.4 Mt; ramping up to 4.3 Mtpa in FY 2016 and 5 Mtpa by FY 2017.
FY 2015: 3.74 Mt (tonnes treated will exceed tonnes mined from FY 2015 - FY 2016 further to the
processing of the remaining stockpile).
FY 2015: 5.6 cpht, and 6.0 cpht from FY 2016 onwards due to plant improvements.
FY 2015: 0.42 Mt (to be reviewed annually).
FY 2015: ca. 2 cpht.
FY 2015: ca. $45m
70% / 30%
FY 2015: ca. US$12 / ROM tonne treated; reducing to ca. US$10.5 / tonne in FY 2017 due to increased
tonnages and high fixed cost base.
Profit share arrangement with contract mining company; zero cost to WDL.
ROM Grade (cpht)
Alluvial Tonnes (Mt)
Alluvial Grade (cpht)
Cash on mine cost
Fixed / variable split
Cash on-mine cost / ROM tonne treated
Cash on-mine cost / Alluvial tonne
Helam
Resources open ended
Direct Ownership (3): 74%, Effective ownership (3): 86.8%
Tax Shield: R253m
LOM Env. Closure Liab. R13m (7)
Guidance Notes (FY 2015)
FY 2015: 2.83 Mtpa, ramping up to 3.0 Mt in FY 2016, 3.2 Mtpa by FY 2017 (when SLC is operational),
and 3.5 Mtpa from FY 2018 onwards (production supplemented with tonnes from SWPC). Block 5
Block Cave production to ramp up from FY 2023 to reach steady state production of 3.5Mtpa by FY
2025.
FY 2015: ca. 38.3 cpht, ca. 46 cpht in FY 2016, ca. 58 cpht from FY 2017 when mining undiluted ore
from the SLC, and ca. 60 cpht when the Block 5 Block Cave is operational.
FY 2015: ca. 2.59 Mt; total of ca. 6 Mt of Pre-79 dumps to be mined from FY 2015 to FY 2017.
(Previous plan to treat Post-79 dump material has been revised to exclude these tonnes).
Cash on mine cost
FY 2015: ca. R36m
If placed on care and maintenance, cost estimated at ca. R3 million per month.
Guidance Notes
Central costs (re-charged to mines in addition to cash on mine
costs above)(4)
ca. ZAR220 - ZAR230m (allocated by means of a management fee to the mines as follows: Finsch 35%,
Cullinan 35%, Koffiefontein 10%, Kimberley Underground 10% and Williamson 10%)
Corporate overheads (not allocated to mines)
ca. $10m - $11m
Exploration
ca. $5m
Royalties
Diamond sorting and cleaning fees
1
Formula based for SA ops - between 0.5% and 7% of gross revenue. Refer separate guidance sheet on
royalties. Williamson 5% of gross revenue.
$1/ct for SA Ops;
ca. 1.75% of gross revenue for Williamson.
All cost guidance above given in real, FY 2015 money terms.
Tax shields, environmental closure liability and BEE loans as at 30 June 2014.
3
Direct ownership excludes Petra's 49.24% effective ownership in Sedibeng Mining (Pty) Ltd - refer separate guidance sheet on Petra's effective ownership of its mines.
4
Group central technical, marketing, finance and support services costs (included in mining and processing costs in the income statement).
5
Interest rates applicable to BEE loans are South African prime interest rate plus 2% for Finsch, Cullinan, Koffiefontein and Kimberley Underground; South African prime interest rate for Helam.
6
For all operations a 40/60 weighting (H1 vs. H2) should be applied to diamond sales.
7
LOM environmental liability to unwind at ca. 2% real interest rate over LOM. Cash on mine costs include contributions to Petra's in-house funding vehicle to adequately fund the LOM closure costs. (Reflected as secured
cash).
2

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