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TSX
TSX
TSX / THX - Trans Hex Group Limited - Operational update
Trans Hex Group Limited
Incorporated in the Republic of South Africa
(Registration number 1963/007579/06)
Share code JSE: TSX and NSX: THX
ISIN: ZAE000018552
("Trans Hex")
OPERATIONAL UPDATE
Trans Hex continues to make good progress implementing operational improvements
at both its production and exploration facilities and has now built a firm
platform from which to turn the business around.
Second half production from the South African operations is expected to be in
line with that of the first half. The Bloeddrift plant was successfully re-
commissioned during November 2007 and production has been increased from pre-
shutdown levels of 28,000m3 to 40,000m3 per month. Operating costs have been
driven down from a high of R129/ m3 (R51/ tonne) to R70/ m3 (R28/ tonne) and
further reductions are expected to bring costs to below R60 per m3 on a
sustainable basis from April 2008.
Demand and pricing for higher quality and large sized rough diamonds, with which
Trans Hex`s production is synonymous, continues to be strong. 23154 carats were
sold at the final sale of the year and achieved a sale price of US$29,3 million.
Prices achieved in most categories for this sale were approximately 14% above
those achieved at the previous sale during November 2007, partially as a result
of the exceptional quality of the stones.
Production from the Angolan operations continues to be affected by difficult
operating conditions. Management has made considerable progress in implementing
long-term solutions to resolving operational difficulties and is achieving
recovery plan milestones.
The Namibian operations, comprising the Group`s two deep water mining vessels,
continue to make losses and various options for exiting this business are being
actively considered.
Trans Hex`s results for the financial year ending 31 March 2008 are expected to
be published on or about 28 May 2008.
Ends
Enquiries:
George Zacharias 021 937 2000
Trans Hex
Rachel Quigley/ Rob Pinker 011 502 7416
Brunswick
Cape Town
10 April 2008
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG Corporate Finance (Pty) Ltd
Notes to Editors:
Trans Hex Group is a world leader in the exploration, mining and marketing of
high-quality alluvial diamonds from both land and sea operations. The Group has
well-established land operations in South Africa as well as mining and
exploration interests in Angola, Namibia and Liberia.
Date: 10/04/2008 13:47:14 Produced by the JSE SENS Department.
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