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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 an update in respect of its latest diamond sales
and production.
The Group`s February 2012 tender sale of South African production amounted to
R145.6 million (19 562 carats at an average price of US$952 per carat and
exchange rate of R7.82/US$).
Eight single stones were sold for an average price of more than US$10 000 per
carat, including three stones from Baken Mine which sold for over US$20 000 per
carat.
Somiluana Mine in Angola, in which Trans Hex holds a 33% stake, realized a total
of US$3.53 million for its December and January sales (8 119 carats at an
average price of US$435 per carat).
These sales reflect increased demand for rough diamond production at the start
of 2012 and, having stabilized in the latter part of 2011, overall prices have
now shown modest percentage increases.
Year-to-date production at the Group`s South African operations amounted to 73
744 carats at end-January. During the first six months of the financial year 33
199 carats were produced, while
40 545 carats were produced in the four-month period from October 2011 to
January 2012. The production target for the full year is 82 000 carats.
Year-to-date production at Somiluana amounted to 36 911 carats at end-January.
During the first six months of the financial year 20 473 carats were produced,
while 16 438 carats were produced in the four-month period from October 2011 to
January 2012. The production target for the full year is 42 000 carats.
The next sale of South African production will be held in March 2012. Somiluana
conducts monthly sales.
The external auditors have not reviewed or reported on the information provided
in this update and it does not constitute an earnings forecast.
Cape Town
7 February 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/02/2012 12:37:01 Produced by the JSE SENS Department.
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