TSX
TSX
TSX - Trans Hex Group Limited - Angola operations
TRANS HEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1963/007579/06
ISIN: ZAE000018552
Share code: TSX
("the Group")
ANGOLA OPERATIONS
The Group announces that negotiations for the conversion of its prospecting
contract for the Luana Concession in Angola to a mining contract have been
successfully concluded and that the mining contract was signed on 12 May 2010.
Through the successful prospecting activities and the approved feasibility
study, Trans Hex has earned its 33% equity interest in the mining company. The
mining contract allows for Trans Hex to appoint the General Manager, Financial
Manager and Operations Manager.
Pilot production will continue with equipment already on site, and the partners
will in due course decide how the mine will be developed. Sale of Luana product
will commence forthwith.
The Luarica and Fucauma operations remain mothballed with minimal care and
maintenance costs being incurred.
Cape Town
13 May 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Further enquiries please contact:
ChilliBush Investor Relations
Lynsey Pharo
082 079 7961
Date: 13/05/2010 07:06:01 Produced by the JSE SENS Department.
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