Aim-listed Petra Diamonds achieved a solid operational performance for the financial year ended June 30, generating operating free cash flow of $70.5-million, despite a weaker market, and during the company’s transition from its expansionary capital expenditure (capex) phase towards steady-state production. Following a strategic review of the business, in the short term, the company remains focused on the execution of Project 2022, which is expected to reduce its high net debt levels against a backdrop of a challenging diamond market, Petra CE Richard Duffy said on Monday.
