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TSX
TSX
TSX - Trans Hex Group Limited - Market Update
TRANS HEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1963/007579/06
ISIN: ZAE000018552
Share code: TSX
("Trans Hex" or "the Group")
MARKET UPDATE
Trans Hex is pleased to provide the following update on its operations.
SOUTH AFRICA
South African carat production has been below target for the year to
date, primarily as a result of grade under-performance at Baken Mine
(average of 1.30 carats/100m3 against budget of 1.75 carats/100m3).
It is expected that the Baken grade will recover during the second half
of the year.
The Group`s May 2010 sale amounted to R114.7 million, at an average price
of $927 per carat, reflecting continued strong demand and prices for
Trans Hex`s rough diamond production.
ANGOLA
Following the signing of the mining contract for Project Luana, in which
Trans Hex has a 33% interest, in May 2010, pilot mining operations
commenced in July 2010.
Stockpiled exploration and pilot production of 26 452 carats was sold
subsequently, at an average price of $312 per carat, realising total
proceeds of over $8.2 million.
A minimum of 8 300 carats will be sold during September 2010.
The Luana partners have agreed to a one year business plan which will
result in the mine initially being developed from internally generated
funds.
Projects Luarica and Fucauma (in which Trans Hex holds 35% and 32%
respectively) remain under care and maintenance.
The above information has not been reviewed or reported on by the
Company`s external auditors.
Cape Town
25 August 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
Michelle Doyle
011 646 7152
082 784 1814
Date: 25/08/2010 10:49:03 Produced by the JSE SENS Department.
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