To view the PDF file, sign up for a MySharenet subscription.

TRANS HEX GROUP LIMITED - Production and sales update February 2017

Release Date: 23/02/2017 08:45
Code(s): TSX     PDF:  
Wrap Text
Production and sales update – February 2017

TRANS HEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1963/007579/06
Share code: TSX
ISIN: ZAE000018552
("Trans Hex" or the “Group”)

PRODUCTION AND SALES UPDATE – FEBRUARY 2017

Trans Hex is pleased to provide an update in respect of its latest diamond production and sales.

PRODUCTION
Production at the Group’s South African operations amounted to 11 356 carats for the four months
ended 31 January 2017.

West Coast Resources (in which Trans Hex has a 40% stake) produced 26 030 carats in the same
period.

Production at Somiluana Mine in Angola, in which Trans Hex holds a 33% stake, totalled
31 460 carats for the four months.

SALES
The Group’s October 2016, December 2016 and February 2017 tender sales of production from its
wholly owned South African operations amounted to R201,1 million (16 447 carats at an average price
of US$895 per carat and exchange rate of ZAR13,67/US$).

Six single stones were sold for more than US$10 000 per carat, including a four carat stone from Baken
Mine which sold for US$27 245 per carat.

Sales for West Coast Resources amounted to R83,9 million, with production fetching an average price
of US$158 per carat.

Somiluana Mine realised a total of US$30,2 million from the five sales since September 2016
(57 960 carats at an average price of US$521 per carat).

The next sale of South African production will be held in March 2017. Somiluana conducts monthly
sales.

MARKET
Market conditions have improved and trading volumes have returned to normal after the year-end break
following reports of increased manufacturing capacity.

Rough diamond demand is anticipated to remain strong for the rest of 2017, however trading remains
cautious in the medium term amidst tight liquidity.


The Group expects to release its annual financial results for the year ending 31 March 2017 on or about
2 June 2017.

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 February 2017

Sponsor
One Capital

Date: 23/02/2017 08:45:00 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.

Share This Story