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Southstone Minerals Ltd V.SML

Alternate Symbol(s):  FDGMF

Southstone Minerals Limited is a Canadian junior mining company. The Company is engaged in the acquisition, exploration, evaluation, development and mining of mineral properties. The Company holds a 43% interest in the Oena Diamond Mine (Oena), which is located in the Northern Cape Province, Republic of South Africa that consists of one New Order Mining Lease. Oena is a producing alluvial diamond property. Oena is approximately 8,800 hectares in size and covers a 4.8 kilometers (kms) wide strip along a 15 kms length of the lower Orange River. The property has two separate and distinctly different aged diamondiferous bearing paleochannel gravels: Proto-terraces and Meso-terraces. 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
100 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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