Trans Hex Struggles Continue as CEO Resigns

RAPAPORT... Llewellyn Delport has stepped down as CEO ofTrans Hex following continued operating losses and uncertainty about thecompany's future, it said Tuesday.  Delport, who has been with the South Africa-based minersince 2004, will leave August 31. Board chairman Marco Wentzel will head thecompany until it finds a replacement. Last month, Trans Hex issued a warning about its ability tocontinue as a business after recording a loss of ZAR 9.3 million ($654,592) in2019. That followed a loss of ZAR 70.8 million ($5 million) in 2018. Trans Hex has been in the process of offloading several ofits operations to raise funds. In May, the companysold nearly 70% of its Namaqualand project, while in April 2018 it sold theLower Orange River deposit. In July, the miner stated an intention to buy back shares inthe business prior to delisting from the Johannesburg Stock Exchange (JSE). Image: Llewellyn Delport. (Trans Hex)