VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 30, 2015) - Tango Mining Limited ("Tango" or the "Company") (TSX VENTURE:TGV) announces that it applied for and received a management cease trade order ("MCTO") to the British Columbia Securities Commission, the Company's principal regulator.
As a result of a delay in obtaining financial information from the Company's subsidiaries in Africa and a change of auditors, the Company was not be able to meet the filing deadline of December 29, 2015 for its audited financial statements for the year ended August 31, 2015, as well as the related Management's Discussion & Analysis.
The Company expects to receive the required financial information from its African subsidiaries by mid-January 2016 and, accordingly, it anticipates filing the financial documents within six weeks of the filing deadline of December 29, 2015. The Company confirms that it intends to satisfy the provisions of the alternative information guidelines so long as it remains in default of this filing requirement, being the provision of bi-weekly updates by way of news release.
About Tango Mining Limited
Tango Mining Limited is a Canadian company that primarily operates in southern Africa. Tango has recently completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that will produce in excess of 500K carats and has a short timeline to re start of production. Tangos Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Total (SA) and Glencore plc. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company also holds an interest in African Star that owns the Oena Project, a producing alluvial diamond property, Northern Cape Province, South Africa. The Company's vision is to become a junior mining company with a focus on diamond mining and development projects.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.