AMN - SOUTH AFRICA: Southstone produces 742 carats

Southstone Minerals Limited, formerly known as Tango Mining, produced, placed on tender and sold a total of 742 carats from the Oena Diamond Mine in South Africa during the production period from August 8 to October 16. The average price achieved per carat US$1,495 per carat and the diamonds produced US$1,110,164 in sales.

Southstone maintains its strategic focus on its diamond operations, in particular, the company’s flagship asset, the Oena Diamond Mine in the Northern Cape, which produces very high-quality diamonds.

There are two mining contractors on-site operating eight pan plants which process both run of mine (ROM) and pan tailings and bantam material (tailings) with one Bourevestnik (BVX) unit is used for diamond recovery.

The two contractors continue their activities at Oena as per a Contract Mining and Diamond Recovery Agreement and a Joint Operating Agreement.

Last month Tango Mining received approval from that the TSX Venture Exchange for the change of name to Southstone Minerals Limited and a consolidation of its share capital on the basis of one post-consolidated share for each 10 pre-consolidated shares.

The common shares began trading on the exchange under the new name and on a post-consolidated basis at market open on Tuesday, October 29, 2019, under the trading symbol SML. The company has also launched a new website at www.southstoneminerals.com.

www.southstoneminerals.com