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TRANS HEX GROUP LIMITED NEWS RELEASE
A 56-CARAT LIGHT YELLOW DIAMOND BECAME AN EARLY CHRISTMAS PRESENT FOR ALLUVIAL DIAMOND MINER TRANS HEX WHEN IT WAS RECOVERED IN EARLY DECEMBER.
ACCORDING TO MANAGING DIRECTOR: OPERATIONS PETER DANCHIN, THE STONE IS THE LARGEST EVER RECOVERED FROM BAKEN - THE COMPANY'S FLAGSHIP OPERATION ON THE SOUTHERN BANK OF THE ORANGE RIVER IN NAMAQUALAND.
THE STONE HAS NOT YET BEEN VALUED AND WILL BE INCLUDED IN THE SCHEDULED MARCH TENDER.
BAKEN MINE ACHIEVES SOME OF THE HIGHEST RUN-OF-MINE DIAMOND PRICES IN THE INDUSTRY AND THE SOON-TO-BE-COMPLETED CENTRAL PLANT WILL BOOST ANNUAL OUTPUT BY OVER 30% TO 60 000-CARATS.
"PRICES FROM OUR DIAMOND SALE CONDUCTED DURING NOVEMBER REMAIN FIRM AND WE ARE OPTIMISTIC FOR THE FUTURE," SAID DANCHIN.
ONGOING DEMAND FOR JEWELLERY IN THE UNITED STATES HAS BEEN CITED AS ONE OF THE MAIN REASONS FOR CONTINUED STRONG PRICES IN THE DIAMOND MARKET.
"HOWEVER, LIKE THE REST OF THE INDUSTRY, WE ARE WATCHING WITH INTEREST THE SALES FIGURES FOR RETAIL POLISHED DIAMOND JEWELLERY SALES OVER THE CHRISTMAS PERIOD. THESE WILL GIVE US A BETTER INDICATION OF THE STRENGTH OF THE MARKET NEXT YEAR," SAID DANCHIN.
OF PARTICULAR INTEREST IN THE RECENT TENDER WAS ONE STONE WEIGHING 28-CARATS, WHICH GROSSED APPROXIMATELY US$73 000. THE DIAMOND ORIGINATED FROM THE BLOEDDRIF OPERATION NEAR BAKEN, AN AREA RESPONSIBLE FOR OUTSTANDING EXPLORATION RESULTS LAST YEAR.
TRANS HEX MARKETS ITS OWN DIAMOND PRODUCTION THROUGH REGULAR TENDERS. THE COMPANY HAS ESTABLISHED AN ENVIABLE REPUTATION FOR PRODUCING THE MOST
SOUGHT-AFTER TYPES OF DIAMONDS AND ATTRACTS POTENTIAL BUYERS FROM AROUND THE GLOBE.
"THE 'CONFLICT-FREE' STATUS OF OUR DIAMONDS TOGETHER WITH THEIR DESIRABLE QUALITIES COMBINE TO ENSURE THAT WE ACHIEVE SOME OF THE HIGHEST PRICES IN THE MARKET," CONCLUDES DANCHIN. ENDS. FOR FURTHER INFORMATION : PETER DANCHIN TRANS HEX GROUP TEL: (021) 939-1105 ISSUED BY : CULLUM JOHNSTON BHA COMMUNICATIONS TEL: (021) 683-2685 / 083 212-2455 DATE : 20 DECEMBER 2000
