Resources Segment Operational Update: Meya Sale of Diamonds February 2019
TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
(“Trustco” or “the Company”)
RESOURCES SEGMENT OPERATIONAL UPDATE: MEYA SALE OF DIAMONDS FEBRUARY 2019
Trustco is pleased to advise Trustco shareholders (“Shareholders”) of the following operational
update related to Meya’s exploration program and wishes to inform Shareholders of the following
• Meya Mining exported 3,036.11 carats on the 21st January 2019 and 1,097.33 carats on 14th
February 2019 from Sierra Leone to Antwerp. Both these parcels consisted of diamonds recovered
from retreatment (second pass) of Meya River sample tailings i.e. re-crushing the tailings from
10mm to 8mm and re-processing/audit the tailings in order to increase liberation and confirm the
in situ grade. The average stone size distribution with the second pass / audit dropped from 0.28
carats per stone (achieved with the first pass) to 0.18 carats per stone, thus realising a lower
average value per carat as detailed in the Table below.
Export No Export Date Carats Sold Total USD Tender
Export 011 21-Jan-19 2 778.07 709 677.40 255 30 Jan-19
Export 012 14-Feb-19 1 088.55 219 030.66 201 28 Feb-19
Totals 3 866.62 928 708.10 240
• The twelve parcels that were exported to date, relate to three bulk samples, two at the Meya
River Sample and one at the Bardu Sample, as part of the Phase 1 exploration program. Total
revenue from the 27,776.10 carats sold to date is USD 24,490,420, thus an average value of USD
881.71 per carat.
• Meya plans to conclude the Meya River sample by extracting the remaining 1 500 tonnes of
kimberlite during March. The focus will then move to both the Simbakoro and the Waterloo bulk
samples. Simbakoro is located some 800 m north of Dyke Zone B running on a parallel orientation
whilst Waterloo is located some 5.5 km west of Dyke Zone B. Stripping of overburden at both
these areas is at an advanced stage. Some kimberlite material excavated as part of sample
preparation at Simbakoro was treated and results are encouraging, both in terms of grade
achieved and quality of the diamonds produced.
• The primary focus is to finalise the Phase 1 Resource Statement and Competent Persons Report.
8 March 2019
Company Secretary: Trustco Group Holdings Limited
Vunani Corporate Finance
Simonis Storm Securities Proprietary Limited
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