Trans Hex Struggles Continue as CEO Quits

RAPAPORT… Llewellyn Delport has stepped down as CEO of
Trans Hex following continued operating losses and uncertainty about the
company’s future, it said Tuesday.  


Delport, who has been with the South Africa-based miner
since 2004, will leave August 31. Board chairman Marco Wentzel will head the
company until it finds a replacement.


Last month, Trans Hex issued a warning about its ability to
continue as a business after recording a loss of ZAR 9.3 million ($654,592) in
2019. That followed a loss of ZAR 70.8 million ($5 million) in 2018.


Trans Hex has been in the process of offloading several of
its operations to raise funds. In May, the company
sold nearly 70% of its Namaqualand project, while in April 2018 it sold the
Lower Orange River deposit.


In July, the miner stated an intention to buy back shares in
the business prior to delisting from the Johannesburg Stock Exchange (JSE).

Image: Llewellyn Delport. (Trans Hex)