In the nine months ended Dec. 31, 1998,
General and administration expenditures for the period topped $733,000, which is down $143,000 from the corresponding period of 1997. The company had $4 million in working capital at the end of the recent 9-month period.
Trans Hex owns varying interests in the Northbank and Skeleton Coast properties in Namibia and the Rio Grande property in Brazil. Northbank is the most advanced, but a follow-up bulk sampling remains delayed by a legal dispute with a local land owner.
In Zimbabwe, Trans Hex has applied for two contiguous diamond concessions that cover 25,934 ha of the Limpopo mobile belt. The concessions are adjacent to a kimberlite property managed by Rio Tinto (rtp-n) and in which the company owns a 4% interest.
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