| Thu 8 May 2008, 13:17 | | JSE - Trans Hex Group Limited - Developments at pr |
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JSE - Trans Hex Group Limited - Developments at project Fucauma IN Angola
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" or "the Group")
DEVELOPMENTS AT PROJECT FUCAUMA IN ANGOLA
Trans Hex is pleased to announce that following extended negotiations, the
members of the Fucauma Association have granted to Trans Hex, the management
control of the Fucauma project, for a period of four years with effect from 7
May 2008.
A comprehensive recovery plan for the Fucauma project, in which Trans Hex has a
32% interest, is now being implemented which enables Trans Hex to deploy and
utilize at Fucauma, its considerable expertise in alluvial diamond mining
operations. The initial implementation phase of the recovery plan has seen the
appointment of Mr. Gus Maarman, former Trans Hex Middle Orange River operations
general manager, as the Director General of the Fucauma Project. Trans Hex has
also appointed the project`s financial director, Mr. Luis Pereira.
Mr. Llewellyn Delport, Chief Executive Officer of the Trans Hex Group, noted:
"The management agreement with our Fucauma Association partners reflects the
strong working relationship which has been developed with our Angolan project
partners, which we continue to strengthen in respect of Fucauma and our other
Angolan projects."
Ends
8 May 2008
Contact Details:
George Zacharias 021 937 2011
Trans Hex
Rob Pinker/ Rachel Quigley 011 502 7300
Brunswick
Notes to Editors
Trans Hex
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.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Date: 08/05/2008 13:17:01 Produced by the JSE SENS Department.
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