Trans Hex sold $15.7 million (ZAR 114.7 million) worth of diamonds from its South Africa operations in May, reporting that both demand and prices remained strong during the month. The sale achieved an average price of $927 per carat, according to the junior diamond miner.
<div id="_mcePaste">Trans Hex noted that production from its South Africa operations have been below target this year due to grade underperformance at its Baken mine. Output at Baken has yielded an average of 1.30 carats per 100 cubic meters, below the company’s budget of 1.75 carats per 100 cubic meters. Trans Hex said it expects the Baken grade to recover in the second half of the year.</div>
<div>In addition, the company started pilot mining at its 33-percent-owned Luana project in Angola in July. Stockpiled production of 26,452 carats from the project was sold for $8.2 million, or $312 per carat. The company noted that a minimum of 8,300 carats from the project will be sold at its next sale in September.</div>
<div>For the fiscal year that ended on March 31, 2010, Trans Hex saw its sales revenue increase 12 percent year on year to $93.1 million (ZAR 715.7 million), with the average price achieved from production rising 19 percent to $957 per carat. All of the revenues Trans Hex generated during the year were derived from its South Africa production.</div>
Trans Hex sold $15.7 million (ZAR 114.7 million) worth of diamonds from its South Africa operations in May, reporting that both demand and prices remained strong during the month. The sale achieved an average price of $927 per carat, according to the junior diamond miner.

Trans Hex noted that production from its South Africa operations have been below target this year due to grade underperformance at its Baken mine. Output at Baken has yielded an average of 1.30 carats per 100 cubic meters, below the company’s budget of 1.75 carats per 100 cubic meters. Trans Hex said it expects the Baken grade to recover in the second half of the year.

In addition, the company started pilot mining at its 33-percent-owned Luana project in Angola in July. Stockpiled production of 26,452 carats from the project was sold for $8.2 million, or $312 per carat. The company noted that a minimum of 8,300 carats from the project will be sold at its next sale in September.

For the fiscal year that ended on March 31, 2010, Trans Hex saw its sales revenue increase 12 percent year on year to $93.1 million (ZAR 715.7 million), with the average price achieved from production rising 19 percent to $957 per carat. All of the revenues Trans Hex generated during the year were derived from its South Africa production.

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