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Southstone Minerals Ltd V.SML

Alternate Symbol(s):  FDGMF

Southstone Minerals Limited is a Canadian junior mining company. The Company holds a 43% interest in the Oena Diamond Mine (Oena), an alluvial diamond property, located in the Northern Cape Province, Republic of South Africa that consists of one New Order Mining Lease. The Oena Project is 8,800 hectares in size and covers about 4.8 kilometer (km) wide strip along a 15 km length of the lower Orange River. Oena, a producing alluvial diamond property, is located within an alluvial diamond mining province about 50 km upstream of Namdeb’s Auchas and Daberas alluvial diamond mines, located on the Namibian or north bank of the Orange River, and about 15 km and 60 km upstream of Trans Hex’s Reuning and Baken alluvial diamond mines. Its subsidiaries include TGV Resources (Pty) Ltd, African Star Minerals (Pty) Limited, and GAH Mining (Pty) Ltd.


TSXV:SML - Post by User

Bullboard Posts
Post by onetimeron Apr 20, 2018 11:09am
86 Views
Post# 27917386

new equipment

new equipmentI figure this is the backup plan for oena. Now that they are not spending money on the cancelled project, they can concentrate on oena VANCOUVER, British Columbia, April 20, 2018 (GLOBE NEWSWIRE) -- Tango Mining Limited (Tango or the Company) is pleased to announce that it has taken a decision to purchase an additional 16-foot pan plant and a mobile screening unit to be mobilized to the Oena Diamond Mine (Oena or the Property) to process pan tailings and bantam material (Tailings) left on site from previous mining operations. The total CAPEX for the required equipment is expected to be in the range of $500,000. The Company will rent a 40 tonne (t) excavator, two 2.5 cubic meter loaders and two 30 t dump trucks to support the processing of Tailings. Diamonds recovered from this operation will solely be for the account of the Company. It is anticipated that this equipment will be mobilized to Oena and operational by the end of the second quarter.
Bullboard Posts