Miner Trans Hex Reports on Q2 Overview
Post Date: 27 Aug 2010 Viewed: 458
Diamond miner Trans Hex posted its performance report for the second quarter of 2009:
In South African, carat production has been below target for the year to date, primarily as a result of grade under-performance at Baken Mine. The company expects that the Baken grade will recover during the second half of the year.
In Angola, pilot mining at the Luana diamond project, in which Trans Hex has a 33% interest, began. Stockpiled exploration and pilot production of 26,452 carats was sold subsequently, at an average price of $312 per carat, realizing total proceeds of over $8.2 million.
Projects Luarica and Fucauma, in which Trans Hex holds 35% and 32% respectively, remain under care and maintenance, the miner said on its website.