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TSX - Trans Hex - Market Update

Release Date: 23/03/2011 14:19
Code(s): TSX
Wrap Text

TSX - Trans Hex - 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. The Group`s March 2011 tender sale of South African production amounted to R94.5 million (7 585 carats at a record average price of US$1 782 per carat and exchange rate of R6.99 / US$). Five single stones were sold for an average price in excess of US$10 000 per carat, including two stones from Baken Mine which sold for over US$40 000 per carat. Project Luana in Angola, in which Trans Hex holds a 33% stake, realized a total of US$1.89 million for its March sale (4 303 carats at an average price of US$439 per carat). These sales reflect continued strong demand and increasing prices for Trans Hex`s rough diamond production. The next sale of South African production will be held in May 2011. Project Luana 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 23 March 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Namibian Sponsor IJG CORPORATE FINANCE (PTY) LTD Date: 23/03/2011 14:19:01 Supplied by www.sharenet.co.za 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.

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