Petra has released an update this morning for the deferral of capital expenditures for the remainder of FY2024 of up to $68-70m (development capex: $65m, sustaining capex $3-5m) and further cost savings in mining operations of ~$5m for a total cash savings of up to $75m till June 2024. This update comes in response to management taken prudent steps to ensure financial flexibility should diamond prices remain weaker-for-longer, and we note that if prices do recover (which they expect), then they ....
