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Firestone Diamonds again extends deadline for Botswana asset sale

29th July 2016

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Firestone Diamonds has again extended the date by which all conditions for the disposal of its Botswana operations to TSX-V-listed Tango Mining must be met to August 29.

The previous deadline was July 29.

Tango is still working on concluding a proposed $30-million loan commitment with US-based financial lender Vanderbilt Commercial.

If concluded, the funds will be used to satisfy the $8-million asset acquisition price and to provide capital to restart operations at the BK11 asset, in the Orapa kimberlite field, in Botswana.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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