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Tango Mining

Sparkly news for Tango Mining as Bluedust 7 completes due diligence on Oena diamond mine

Tango Mining Limited (CVE:TGV) CEO Samer Khalaf tells Proactive Investors mining contractor Bluedust 7 has completed due diligence on Tango's Oena diamond mine in South Africa.

Khalaf says Bluedust 7 will own and operate all equipment on the site and will pay Tango royalties of 25% on all income from diamond sales from run-of-mine-gravel and stones sold from tailings processing.

Next steps from Bluedust include sending more equipment to the mine, which Khalaf says would improve processing capabilities.

Total production of the Oena mine since Tango acquired it a few years ago has been south of 1800 karats, averaging over $1,100 per karat.

Quick facts: Tango Mining

Price: $0.02

Market: TSX-V
Market Cap: $3.49 m
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