Trans Hex to delist from JSE on Dec 3

Diamond miner Trans Hex expects the delisting of its shares on the JSE to be concluded on December 3.

It proposed the delisting in July, when it announced a share buyback programme to purchase the issued share capital of shareholders at R1 apiece.

At the time, it said the delisting would enable it to save on the costs of operating in a regulated environment, while its board felt the JSE listing provided little benefit to the company at this stage of its operating cycle.

Trans Hex manages the Namaqualand project on behalf of West Coast Resources, in which it holds a 67.2% stake. The project is located about 60 km of Port Nolloth along the West Coast of the Northern Cape.

The company also operates the Somiluana mine, in Angola. It holds a 33% interest in the mine.