Trans Hex Group Limited - Trans Hex signs joint ve
TSX
TSX
Trans Hex Group Limited - Trans Hex signs joint venture agreement with Endiama
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")
TRANS HEX SIGNS JOINT VENTURE AGREEMENT WITH ENDIAMA
Trans Hex has concluded a prospecting joint venture agreement with the Angolan
State Diamond Organisation (Endiama), together with certain minority partners,
resulting in Trans Hex Angola securing a 33% interest in the Luana Concession.
The signing of the agreement sees the successful conclusion of the conversion of
the current service agreement into a full scale joint venture agreement.
In terms of the previous service agreement Trans Hex completed a dredge sampling
program on the Luana River which produced encouraging results. A detailed bulk
sampling program will now be implemented whereafter a mine feasibility study
will be presented to the project partners.
The Luana Concession is located 80 km North East of the town of Lucapa in the
Angolan province of Luande Norte. The 724.5 km2 concession includes a portion
of the Luana River to the south of its confluence with the Chuimbe River. It is
adjacent to the Luarica concession in which Trans Hex has a 35% interest.
Llewellyn Delport, Managing Director, Trans Hex Group commented as follows:
"The signing of the Luana joint venture agreement further emphasises the
confidence which our Angolan partners have shown in us. Our working
relationship with Endiama started some four years ago and continues to
strengthen as evidenced by the signing of this agreement".
Ends
9 May 2006
FOR FURTHER INFORMATION PLEASE CONTACT:
Trans Hex Group Limited
Llewellyn Delport
Telephone 021 937 2001
Mobile 082 457 0316
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Date: 10/05/2006 10:00:19 AM Produced by the JSE SENS Department
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