Proactive Investors - Run By Investors For Investors

Tango Mining shares sparkle as it unveils latest Oena diamond sales

Shares in Tango Mining Ltd added over 8% in Toronto as it updated on diamond sales from the Oena mine in South Africa.
Tango Mining shares sparkle as it unveils latest Oena diamond sales
The top 53 diamonds in value, of the 183 recovered, totalled 174.46 carats, Tango said

Shares in Tango Mining Ltd (CVE:TGV) added over 8% in Toronto as it updated on diamond sales from the Oena mine in South Africa.

In the month to March 20 this year 307.94 carats from 183 diamonds were produced and sold with an average price of US$875  per carat.

The top 53 diamonds in value, of the 183 recovered, totalled 174.46 carats, had an average size of 3.292 carats and were sold with an average price of US$1,358 per carat, it added.

Production from Oena, since it was bought, now totals 564.06 carats, which have been sold at an average price of US$1,330, said Tango.

Notably, as announced on February 28,  during test commissioning, a diamond of 36.34 carats was recovered and sold at US$6,054 per carat.

Oena covers a 4.8km wide strip along a 15km length of the Orange River in a well-established alluvial diamond-mining province known to produce high-quality and large-sized diamonds.

African Star Minerals , of which Tango has a stake, owns 100% of the property.

Tango shares gained 8.33% to stand at $0.065.

View full TGV profile View Profile

Tango Mining Timeline

Related Articles

Evaporation ponds at Rincon
November 29 2018
The company is positioning itself as a chemical processing business to produce battery-quality lithium products for global battery and energy storage markets.
1539615615_ZincBalls.jpg
October 15 2018
Dr Graham Carman, president and chief executive, noted that at this point more than 40,000 metres had been drilled...
project area
December 19 2018
The company has also reported a maiden ore reserve, adding to the project’s low-risk mineral resource and strong economic potential.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use