Trans Hex losing its shine?
MARC HASENFUSS: A stumbling diamond miner
Prospects are dim for Christo Wiese-associated Trans Hex. We also look at the goings on at Truworths and AEEI
16 November 2017 - 14:02
The "deep value" glint at diamond miner Trans Hex Group — these days under the influence of Christo Wiese and investment firm RECM & Calibre — appears to have dimmed rather ominously. In the six months to end-September Trans Hex posted a loss of R199m (compared with a profit of R32.5m in the corresponding period last year), with sales in its SA operations dropping more than 45% to less than R150m. The equity-accounted losses from West Coast Resources, acquired with great hope from De Beers, came in at R13m.
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