Cmte Studies THI Alternatives
Bnamericas Published: Friday, November 30, 2001
Alternative proposals from third parties to the suggested winding up of Toronto-based diamond explorer Trans Hex International (CDNX: THI) are now being studied by an independent committee set up to consider the company's future, the committee announced. Though the focus is on THI's South African properties, the company's future was put in jeopardy after disappointing results from the Barra Grande alluvial diamond project in southeast Brazil's Minas Gerais state. No economic grades were found during bulk sampling. THI wrote off Cdn$4.95mn (some US$3.3mn) and withdrew from the project. Partner Verena Minerals (CDNX: YVM) of Toronto said its directors remained confident of Barra Grande''s diamond gravel potential. THI's parent, Trans Hex Group Limited, mines and explores for diamonds in South Africa.
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