|
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 an update in respect of its latest diamond
sales and production.
The Group`s February 2011 tender sale of South African production amounted
to R141 million (12 817 carats at a record average price of US$1 547 per
carat and exchange rate of R7.11 / US$).
Some 15 single stones were sold for an average price of more than
US$10 000 per carat, including two stones from Baken Mine which sold for
over US$20 000 per carat.
Project Luana in Angola, in which Trans Hex holds a 33% stake, realized a
total of US$3.78 million for its December and January sales (9 136 carats at
an average price of US$414 per carat).
These sales reflect continued strong demand and increasing prices for Trans
Hex`s rough diamond production.
Year-to-date production at the Group`s South African operations amounted to
57 825 carats at end-January. During the first six months of the financial
year 32 288 carats were produced, while
25 537 carats were produced in the four-month period from October 2010 to
January 2011. The average grade at Baken Mine for the year to date is
currently 1.3 carats/100m3. Implementation of the new mining plan which was
adopted towards the end of September 2010 is continuing successfully. This
plan targets sustainability at an average grade of 1.0 carat/100m3.
Project Luana has produced a total of 20 505 carats since the commencement
of production in June 2010. In the four-month period from June to September,
6 164 carats were produced and 14 341 carats were produced in the four
months to end-January 2011, reflecting a successful programme of ongoing
investment in the expansion of production capacity through cash generated
from operations. To date, Luana has repaid US$3.45 million to Trans Hex
against the outstanding investment amount.
The next sale of South African production will be held in March 2011.
Project Luana conducts monthly sales.
The external auditors have not reviewed and reported on the information
provided in this update and it does not constitute an earnings forecast.
Cape Town
7 February 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Date: 07/02/2011 07:05:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
