Tango Mining

Tango Mining says Bluedust 7 has completed its due diligence programme on Oena

Bluedust will develop the Oena alluvial diamond mine using Bourevestinik X-ray machines (BVX) and/or pan plants

Diamonds from Oena
The diamonds produced by Bluedust at Oena will be sold via a designated tender facility in South Africa

Mining contractor Bluedust 7 has completed its due diligence program on Tango Mining Ltd's (CVE:TGV) Oena diamond mine in South Africa.

Bluedust 7 now plans to increase its mining and processing capabilities to increase production.

READ: Tango Mining moves forward with Oena diamond project with appointment of Bluedust 7​

The contract mining and diamond recovery agreement between Bluedust and Tango requires Bluedust, at its own cost and expense, to provide and maintain all the plant and equipment as required.

The diamonds recovered from processing run-of-mine gravel (ROM) and pan tailings and bantam material (tailings) by Bluedust at Oena are sold via a designated tender facility in South Africa.

A total of 25% of the gross income of net diamond sales from ROM and 40% of gross income of net diamond sales from tailings, less commission, will be paid to Tango's subsidiary for the duration of the 60-month contract.

For any individual stones recovered from ROM, with a gross selling price (less commission) of greater that US$500,000, Tango's subsidiary will be paid 30% of gross income.

Quick facts: Tango Mining

Price: $0.02

Market: TSX-V
Market Cap: $3.49 m

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