Trans Hex

Trans Hex is a diamond mining company with more than 50 years’ experience in producing gem-quality diamonds for the local and international market.

Through its well-established land operations in South Africa and interests in Angola, the Company is engaged directly, and through joint-ventures, in the exploration, mining and marketing of the highest quality diamonds from land and marine alluvial deposits.

Trans Hex Marine Group

In July 2022, Astoria agreed to invest $5.5 million for a 25.1% stake in Trans Hex Marine Group Proprietary Limited (“THMG”), which was previously called International Mining and Dredging Holdings (Pty) Limited (IMDH SA). This group of companies is actively involved in marine and offshore mining and exploration, operating several vessels and associated equipment off the west coast of South Africa and Namibia.

The investment complements Astoria’s existing holding in Trans Hex, as both THMG and Trans Hex conduct alluvial diamond mining activities.

For the year ended 31 December 2021, THMG’s net assets were R158 million and profits were R107.7 million.

Trans Hex
% of Astoria NAV

As at December 2023 – we value the investment in Trans Hex at a 32% discount to the accounting NAV and the investment in Trans Hex Marine at the original acquisition price.