RAPAPORT... Trans Hex reported that earnings would jump eightfold when the company announces its annual results on June 2.
The junior diamond mining company expects earnings per share of between 14 cents and 15 cents (ZAR 1.79 and ZAR 1.83) for the year that ended on March 31, 2015, compared with just 2 cents reported a year earlier.
Trans Hex explained that the results would be driven by the disposal of its interest in Pioneer Minerals, impairments relating to its Lower Orange River operations and its 40 percent interest in West Coast Resources, which included negative goodwill that arose from the acquisition of assets and liabilities relating to Namaqualand Mines.
Trans Hex shares rose 6 percent to 28 cents (ZAR 3.30) per share in morning trading on the Johannesburg Stock Exchange.
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