https://www.miningweekly.com

Trans Hex warns of widened losses for FY17

15th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – South African diamond miner Trans Hex Group expects to have widened its losses for the 2017 financial year.

In a trading update published on Thursday, the group said it expects to report a loss a share of 173.5c for the year ended March 31, compared with a loss a share of 94.4c in the prior year.

It further anticipates reporting a headline loss a share of 114.6c, compared with last year’s headline loss a share of 56.9c.

The JSE-listed miner said the widened losses were owing to a 19.5% decrease in sales revenue from its South African operations, along with R27.4-million in impairment charges incurred at its Lower Orange River operations.

An equity accounting loss from West Coast Resources, which amounted to R71.3-million, including the group’s share of an impairment charge to mining rights after tax, of R43.4-million, would also lead to the watershed.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Kropz Elandsfontein
Kropz secures R170m loan facility
27th March 2024 By: Darren Parker

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.139s - 88pq - 2rq
Subscribe Now