Trans Hex expected to report Loss

Trans hex

 Trans Hex is expected to report Loss:

Trans Hex is currently finalizing its results for the 12 months ended 31 March 2017 (“Results”), which
are expected to be released on SENS on or about 20 June 2017.

Results in this trading statement are compared with results for the 12 months ended 31 March 2016
(“Previous Corresponding Period”).

Trans Hex Group expects to report:

  •  loss per share of 173,5 cents compared to a loss per share of 94,4 cents in the Previous
    Corresponding Period, representing an increase of 83,79%; and
  •  headline loss per share of 114,6 cents compared to a headline loss per share of 56,9 cents in the
    Previous Corresponding Period.

COMMENTS:

Trading-Statement

The following salient points will be fully reported upon when the Group releases its Results:
 Group net loss amounted to R182,6 million (2016: loss of R100,8 million).
 Sales revenue from the wholly owned South African operations decreased by 19,5% compared to
the Previous Corresponding Period to R540,2 million (2016: R671,4 million).
 Gross loss from South African land operations amounted to R91,5 million (2016: loss of
R6,8 million).
 Impairment charges in respect of the Lower Orange River operations amounted to R27,4 million
(2016: R55,1 million).
 Equity accounting loss from

(Pty) Ltd amounted to R71,3 million (2016:
loss of R13,6 million), including the Group’s share of an impairment charge to mining rights after
tax of R43,4 million.
 Equity accounting profit from Somiluana Mine in Angola amounted to R52,3 million (2016: loss of
R15,8 million).
 The Group’s net cash position at the end of the year was R225,4 million (2016: R353,5 million).
 Net asset value per share amounted to 337,0 cents (2016: 506,0 cents).
The financial information on which this trading statement is based has not been reviewed and
reported on by the Company’s auditors.

Trans hex
Chart of Trans Hex Group’s share price

Trans Hex expects that its net loss widened 81% to $14.2 million (ZAR 182.6 million) in the past fiscal year due to impairment charges and a slump in sales.

Trans Hex Group employs around 600 people across its operations.
Trans Hex Group has a listing on the Johannesburg Stock Exchange under ticker TSX. The company listed in 1981. It also has a listing on the Namibian Stock Exchange.
Trans Hex Group operates primarily in South Africa and has interests in Angola. In South Africa, Trans Hex either owns the mines outright, under contracting agreements or under joint venture agreements. In Angola, it has a third ownership.
The Group’s business consists of exploration, mining and marketing of diamonds.
The Group owns 75% of the Trans Hex Diamond Cutting Works. This is a black empowered cutting and polishing factory. Trans Hex Group sells rough diamonds to this factory, the open market, to the South African State Diamond Trader and to the Angolan state run diamond marketing company.