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TSX - Trans Hex Group Limited - Market Update

Release Date: 07/02/2012 12:37
Code(s): TSX
Wrap Text

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 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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