MIRA INFORM REPORT

Report No. :	482391
Report Date :	05.01.2018

IDENTIFICATION DETAILS

Name :	FINSCH DIAMOND MINE PTY LTD
Formerly Known As :	· ROSSAL NO 11 (29/04/2002) · PETRA DEVELOPMENT AND MINING SERVICES (12/08/2002) · AFROPEAN DIAMONDS (28/05/2012)
Registered Office :	Block 3, Silver Point Office Park 22 Ealing Crescent Bryanston, South Africa 2052
Country :	South Africa
Financials (as on) :	2017
Date of Incorporation :	24.10.2001
Com. Reg. No.:	2001/025614/07
Legal Form :	Private Company
Line of Business :	The subject operates as a mine, undertaking the mining of diamonds.
No. of Employees :	2,814

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
South Africa	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SOUTH AFRICA - ECONOMIC OVERVIEW

South Africa is a middle-income emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world.

Economic growth has decelerated in recent years, slowing to an estimated 0.3% in 2016. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 26% of the workforce, and runs significantly higher among black youth. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability; in late 2016 they issued a request for bids to revamp South Africa’s nuclear power generating capabilities. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints due to technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station.

South Africa's economic policy has focused on controlling inflation; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action. The government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; as of December 2016, most major international credit ratings agencies placed South Africa only one level above junk bond status.

Source : CIA

Executive Summary

The subject is well established. No judgments recorded against the subject. Accounts are paid on due date. The subject is considered equal to its normal business engagements.

Company Information

OVERVIEW

History

FINSCH DIAMOND MINE (PTY) LTD was registered in October 2001 when a shelf entity styled ROSSAL NO 11 (PTY) LTD was utilised for registration purposes. The subject underwent three name changes the latest being to the current name in May 2012.

STATUTORY INFORMATION

Registered Name	FINSCH DIAMOND MINE
Previous Names	ROSSAL NO 11 (29/04/2002) PETRA DEVELOPMENT AND MINING SERVICES (12/08/2002) AFROPEAN DIAMONDS (28/05/2012)
Registration Number	2001/025614/07
Type Of Company	Private Company
Registered Date	24/10/2001
Date Commenced Trading	24/10/2001
Commercial Status	In Business
Financial Year End	June

CONTACT DETAILS

Contact Number	+27 53 385 2111
Email Address	Deidre.moeng@petradiamonds.com
Fax Number	+27 53 385 2310
Website	www.petradiamonds.com
Social Media Presence	Facebook; LinkedIn; Twitter; Instagram
Registered Physical Address	BLOCK 3 SILVER POINT OFFICE PARK 22 EALING CRESCENT BRYANSTON South Africa 2052
Trading Physical Address	Administration Bulding Office; 16Central Avenue LIME ACRES Northern Cape South Africa 8410
Postal Address	P O Box 7 LIME ACRES Northern Cape South Africa 8410

TAX INFORMATION

Income Tax Number 9117382144

VAT INFORMATION

VAT Status	The subject is registered for VAT (VAT number/s made available)
VAT Number	4320198734
Status	Active
Registered Name	FINSCH DIAMOND MINE PTY LTD
Trading Name	FINSCH DIAMOND MINE

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Insurance	GUARD RISK INSURANCE
Auditor	KPMG INCORPORATED

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Holding Company	Share	Type	Comment
PETRA DIAMONDS LIMITED, registered in the U.K.	74.00%	Holding Company
Shareholder/Member Name	Share/Interest	Type	Comment
ITUMELENG PETRA DIAMONDS EMPLOYEE TRUST	12.00%	Shareholder
KAGO DIAMONDS (PTY) LTD	14.00%	Shareholder

PRINCIPAL INFORMATION

DIRECTOR / MEMBER

Full Name	ID No.	Type	Status	DOA Active Interests		Previous Interests Judgments		Fraud Listing
CHRISTOFFEL JOHANNES DIPPENAAR	5706165037083	Director	Active	27/03/2008	24	13	0	0
VUSIMUZI MOSES NKOSI	7003215327088	Director	Active	03/02/2011	0	0	0	0
ADONIS POUROULIS	7003125275088	Director	Resigned	07/03/2003	9	15	0	0
ANNA SOPHIA ROSSOUW	5710050029007	Director	Resigned	24/10/2001	0	0	0	0
BENJAMIN ISRAEL PAUL TRISK	4801075053089	Director	Resigned	27/03/2002	7	4	0	0
CLYDE GARTH JOHNSON	5912075788084	Director	Resigned	03/02/2011	18	13	0	0
DAVID GADD-CLAXTON	5710295082084	Director	Resigned	27/03/2002	4	5	0	0
DAVID GARY ABERY	6210240000000	Director	Resigned	27/03/2008	1	6	0	0
JAMES MURRAY DAVIDSON	4510065030086	Director	Resigned	27/03/2008	5	5	0	0
SIZAKELE RENEE NGWENYA	5812100999088	Director	Resigned	03/02/2011	25	8	0	0

ACTIVE BUSINESS INTERESTS: CHRISTOFFEL JOHANNES DIPPENAAR

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
DIMENG DIAMOND HOLDINGS	2002/003693/07	AR Restoration Process	Active	Director	0
KAGO DIAMONDS	2014/269213/07	In Business	Active	Director	0
MADELEINE ALLUVIAL DIAMOND AND MINERAL DEVELOPMENT	1978/000359/07	AR Final deregistration	Active	Company Secretary	0
MESSINA REHABILITATION	1973/016600/07	AR Final deregistration	Active	Director	0
NABERA HOLDINGS	1997/009346/07	AR Final deregistration	Active	Director	0
FRANNOR INVESTMENTS AND FINANCING	2002/025165/07	AR Final deregistration	Active	Director	0
PETRA DIAMONDS SOUTHERN AFRICA	1997/007770/07	In Business	Active	Director	0
JOHANNESBURG DIAMOND TRADING CORPORATION	1959/002893/07	In Business	Active	Director	0
PREMIER (TRANSVAAL) DIAMOND MINING COMPANY	1902/001807/07	In Business	Active	Director	0
BLUE DIAMOND MINES	1993/006492/07	In Business	Active	Director	1
PAGVLEI MINING	1996/000642/07	AR Final deregistration	Active	Director	0
TECHSOLVE	1996/011147/07	AR Final deregistration	Active	Director	0
LUXANIO TRADING 105	2015/023844/07	In Business	Active	Director	0
CULLINAN DIAMOND MINE	2007/021069/07	In Business	Active	Director	0
EKAPA MINERALS	2004/023503/07	In Business	Active	Director	0
PREMIER ROSE MANAGEMENT SERVICES	2007/027836/07	In Business	Active	Director	0
KRONUM	2016/118989/07	In Business	Active	Director	0
TARORITE	2012/023733/07	In Business	Active	Director	0
ARTON COPPER COMPANY	1921/006936/06	Deregistration Final	Active	Company Secretary	0
ARTON COPPER COMPANY	1921/006936/06	Deregistration Final	Active	Director	0
DZOMBO RENTAL	1997/004126/07	AR Final deregistration	Active	Director	0
MADELEINE ALLUVIAL DIAMOND AND MINERAL DEVELOPMENT	1978/000359/07	AR Final deregistration	Active	Director	0
SILVER POINT MINING SERVICES	2008/020105/07	In Business	Active	Director	0
EALING MANAGEMENT SERVICES	2010/023773/07	In Business	Active	Director	0

PREVIOUS BUSINESS INTERESTS: CHRISTOFFEL JOHANNES DIPPENAAR

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
PACIFIC BREEZE TRADING 201	2005/032554/07	Deregistration Final	Resigned	Director	0
LASER OPTRONIC TECHNOLOGIES	1986/003219/07	In Business	Resigned	Director	0
MESSINA DIAMONDS	1978/000358/07	In Business	Resigned	Company Secretary	0
CALIBRATED DIAMONDS	1994/000965/07	In Business	Resigned	Director	0
PAARDEKRAAL PROPERTIES	1991/003232/07	In Business	Resigned	Director	0
STAR DIAMONDS	1946/022941/07	In Business	Resigned	Company Secretary	0
CROWN RESOURCES	1998/000507/07	In Business	Resigned	Director	0
ZEREN	2009/010234/07	In Business	Resigned	Director	0
CALIBRATED DIAMONDS INVESTMENT HOLDINGS	2004/028347/07	In Business	Resigned	Director	0
DANCARL DIAMONDS	1969/000726/07	In Business	Resigned	Director	0
MESSINA INVESTMENTS	1968/011414/07	In Business	Resigned	Director	0
MESSINA DIAMONDS	1978/000358/07	In Business	Resigned	Director	0
MESSINA INVESTMENTS	1968/011414/07	In Business	Resigned	Company Secretary	0

Management

No principals found for this principal type.

Officer

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
JEAN MARGARET CADDY	4807090052089	Company Secretary	Active	27/03/2008	0	0	0	0
RYAN GETHING	7112185117088	Company Secretary	Resigned	18/03/2002	0	1	0	0

Other

No principals found for this principal type.

BANK ACCOUNT INFORMATION

BANK ACCOUNTS

Account Reference Number	Account Holder	Account Number	Bank Name	Branch Name	Branch Code	Verification Status
ABB115896	FINSCH DIAMOND MINE (Pty) Ltd	62325414879	First National Bank (South Africa)	Johannesburg	255005	Verified by Bank Code

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Mining
Major Industry SIC Code	08991 - Mining of diamonds

MAJOR OPERATION

Major Business Activities	The subject operates as a mine, undertaking the mining of diamonds.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	• CROSSROAD DISTRIBUTORS • SANDVIK MINING • SHELLSA • TNC MINING • MURRAY AND ROBERTS CEMENTATION
Major Customers	The subject holds an open tender for anyone to purchase diamonds.
Major Brands	Subject does not have any brands.
Major Contracts	Subject does not operate on a contract basis.

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
• South America
• Africa
• Australasia
• Europe
• Middle East
• Asia
• North America

OPERATIONAL FOOTPRINT

Operational Footprint Status : The following information was provided

BRANCH & PREMISES INFORMATION

Location	Description/ Type	Size (m^2)	# of Staff	Rented or Owned	Lease Expiry Date
LIME ACRES	Storage Facility Office				N/A

EMPLOYEES

Permanent Employees	2,814
Salaried Employees	2,814

COMPANY FLEET

Total Vehicles

270

The fleet is made up of:

Total Vehicles

270

Combination of Leased and Owned

GENERAL COMMENTS

General Comments

The subject's premises are situated on a mine in the Northern Cape.

FINANCING TERMS

FINANCING TERMS

Sales Terms	Cash
Overdraft Facility	The Subject does not have an overdraft facility
Sureties	The Principals have not signed sureties.
Debtors Ceded	Debtors have not been ceded.
Debtors Factored	Debtors have not been factored.
Bonds	The Subject has no bonds.

FINANCIAL FIGURES

FINANCIAL FIGURES

Financial Year	2017	2016
Currency	USD	USD
Actual numbers, 000' or mio	Actual Numbers	Actual Numbers
Source	Subject company fact sheet_June 2017	Subject company fact sheet_June 2016

INCOME STATEMENT

Turnover/ Revenue

216,700,000

186,400,000

GENERAL COMMENTS

General Comments

Full financial information was not forthcoming. Please also see consolidated financials statements for the financial year ending June 2017.

TRADE REFERENCES

Trade Reference	Date	Trade Score	Terms Given Limit (Taken) Given in days	Monthly Limit Given (Taken)	Account Opened	Payment (Prev. 3 years)		Account Insured	Note
TR17122063	20/12/2017	N/A	-	-	-	-	-	-	Company policy not to provide trade references
TR17122062	20/12/2017	Positive	30 Days (30 Days)	Open Account (400,000) (ZAR)	2007	100%	100%	No	This is an excellent account.
TR17122059	20/12/2017	N/A	-	-	-	-	-	-	Company policy not to provide trade references
TR17122052	20/12/2017	Positive	30 Days (30 Days)	45,000,000 (30,000,000) (ZAR)	1990	75%		No	This is a very good account.
-	11/11/2015	N/A	-	-	-	-	-	-	Company policy not to provide trade references

TRADE REFERENCE ANALYTICS

Number of valid Trade References	5
Overall Trade Score	90%
Average Usage of Terms	100%
Average Monthly Purchase	7,240,000 ZAR
Average Usage of Credit Limit	69%

COURT NOTICES

No judgments on file in the name of the subject.

No liquidation applications on file in the name of the subject.

ATTACHMENTS

File	Module	Category	Date	Comment
PETRA DIAMONDS LIMITED_2016.PDF	Financial Figures	Financial Statements	2017-12-19 01:52:51 PM
CONSOLIDATED FINANCIAL STATEMENTS_JUNE 2017.PDF	Financial Figures	Financial Statements	2017-12-20 08:17:49 AM

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.39
UK Pound	1	INR 85.74
Euro	1	INR 76.25
ZAR	1	INR 5.14

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.