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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

Comment by hempsteron Jun 17, 2019 5:05pm
92 Views
Post# 29833268

RE:RE:Q3 Update

RE:RE:Q3 UpdateI guess full scale production of the Angola project will start some time during this quater.
For Oena full scale production  was scheduled to start in April and eventually it took 6 weeks longer (mid May). Which means the delay of production we see in Angola might also have nothing to do with actually finding diamonds, and might be simply caused by other things which happen to delay the setup /start of the operation of the mine.

The Liberia thing is a whole different story. If Tango manages to develop that project as fast as the Angola one we might see the start of production next spring or roughly a year from now, but certainly not earlier I fear.

Nevertheless it is good to see Tango is on a good track, though I guess we will still need quite some more patience with the stock until we see more action..
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