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TSX
TSX
TSX - Trans Hex Group Limited - Trading statement
TRANS HEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1963/007573/06)
Share Code: TSX
ISIN: ZAE000018552
("Trans Hex" or "the Company")
TRADING STATEMENT
Trans Hex is currently finalising its results for the six months ended 30
September 2007 ("the period"), which are expected to be released on SENS on 14
November 2007.
The loss for the period is expected to be R11 million compared to a profit of
R3 million reported for the corresponding reporting period of the previous
year. The Group is expecting to report a loss per share of 10.5 cents (2006:
profit of 2.6 cents) and headline loss per share of 29.9 cents (2006: profit
of 7.5 cents).
The financial information on which this trading statement is based has not
been reviewed and reported on by the Company`s auditors.
COMMENTS
Sales revenue and profits declined primarily as a result of the temporary loss
of production from the Bloeddrif plant and a resultant decline in the overall
average price per carat being achieved for the Lower Orange River operations.
As previously reported, the Bloeddrif plant was decommissioned to enable plant
modifications to increase throughput capacity and reduce unit costs.
Bloeddrif mined a high quality geological feature during the first six months
of the previous period. Following completion of mining of this geological
feature, the plant has been upgraded to enable the remaining lower grade
deposits to be mined economically. Production is scheduled to recommence
during November 2007. South African land operations production for the full
year is expected to be in line with prior year levels.
Notwithstanding the overall loss for the Angolan division, the Luarica
operation achieved a much improved performance with mining income at R1,4
million (R5,3 million loss). The performance of the Namibian operation
improved with a reduced operating loss being sustained during the six month
period.
Cape Town
5 November 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05/11/2007 17:15:01 Produced by the JSE SENS Department.
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