TANGO DIAMOND SALES FROM OENA DIAMOND MINE, SOUTH AFRICA

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VANCOUVER, BRITISH COLUMBIA — 23 March 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to provide an update on diamond sales results from the Oena Diamond Mine, Republic of South Africa (“Oena” or the “Property”). During the most recent production period, ending 14 March 2018, a total of 159.34 carats (106 diamonds) were produced, placed on tender in Kimberley and sold with an average price of US$864 per carat. This includes an 8.47 carat diamond which sold at US$2,896 per carat.

Diamond production from Oena, since acquisition, including production from both run of mine (“ROM”) material as well as pan tailings (“Tailings”), now totals 1660 carats and have been sold at an average price of US$1,150 per carat. Bluedust continues its due diligence program and will continue to systematically test various areas of the Property and a total of 26,130t of both ROM and Tailings material were processed during the most recent production period.

On behalf of the Board of Directors of Tango Mining Limited
Samer Khalaf
Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TANGO ADDS KIMBERLITE TO MIDDLEPITS PROJECT, BOTSWANA

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VANCOUVER, BRITISH COLUMBIA —  7 March 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce it has added an additional Prospecting License (“PL58”) to the Middlepits Project which hosts a kimberlite, called Kolonkwaneng. The Kolonkwaneng kimberlite, was identified by De Beers in 1977 and more recent airborne geophysics suggests it is elliptical in shape and is 127 metres (“m”) by 226 m in diameter. Bulk sampling work by De Beers recovered micro diamonds and heavy minerals that indicate the kimberlite is diamondiferous.

Both PL101 and PL58 (now collectively the “Property”) are located 470 kilometers (km) south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Botswana. PL58 has been added as per the same terms and conditions as previously announced on the 21 December 2018.

Metswedi Mining (Pty) Limited has advised Tango that is in the process of renewal of PL101 and it will cover approximately 429 km2. PL58 covers a total area of 2.3 km2 and is located immediately south east and adjacent to PL101. Closing of the transaction is subject to the renewal of the Property.

About Tango Mining Limited

Tango, via its South African subsidiaries, holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three 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 the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, South Africa and recently signed an agreement on an alluvial diamond project in Botswana called the Middlepits Project.

On behalf of the Board of Directors of Tango Mining Limited

Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement 

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO UPDATE ON OENA DIAMOND MINE, SOUTH AFRICA

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VANCOUVER, BRITISH COLUMBIA — 1 March 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to provide an update on the Bluedust 7 Proprietary Limited (“Bluedust”) due diligence program being conducted at the Oena Diamond Mine, Republic of South Africa (“Oena” or the “Property”). Bluedust has mobilized mining and processing equipment including a Bourevestnik (“BVX”), three 30 tonne (t) dumpers, 30t and 46t excavators, a 50t excavator with centric ripper, Foton 558G and 908G front end loaders, two mobile sizing screens, a 16-foot pan plant and have recommissioned both of Tango’s 14 and 16-foot pan plants that were on site.

Bluedust has been systematically testing both run of mine (“ROM”) material in seven separate areas to date, as well as pan tailings (“Tailings”). As reported on the 23 February 2017, a total of 107.11 carats (76 diamonds) were produced over a 12-day period from a total of 14,940t of both ROM and Tailings material processed from a number of different locations on the Property.

Oena is 8,800 hectares in size and covers a 4.8 kilometre (“km”) wide strip along a 15-km length of the Orange River. Given the size of the Property, Bluedust has requested, and Tango has granted, an extension of the due diligence period to 30 April 2018. This will allow Bluedust to continue their systematic and detailed geological work of Oena including the opportunity to assess the National Instrument 43-101 Inferred Resource announced on the 1 December 2014 news release and several other priority targets. This work will allow Bluedust to prioritize each area that has been identified with diamondiferous ROM and Tailings and allow for the development of a comprehensive Project development plan.

 

On behalf of the Board of Directors of Tango Mining Limited

Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO DIAMOND SALES FROM OENA DIAMOND MINE, SOUTH AFRICA

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VANCOUVER, BRITISH COLUMBIA — 23 February 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to provide an update on diamond sales results from the alluvial Oena Diamond Mine, Republic of South Africa (“Oena” or the “Property”). During the period from 18 January to 14 February 2018, a total of 107.11 carats (76 diamonds) were produced, placed on tender in Kimberley and sold with an exceptional average price of US$1,329 per carat.

The top three highest value diamonds recovered during this period include: a 10.92 carat diamond which sold at US$3,800 per carat, a 2.23 carat diamond which sold at US$3,650 per carat and a 5.45 carat diamond which sold at US$2,731 per carat.

The Contract Mining and Diamond Recovery Agreement with Bluedust 7 Proprietary Limited considers processing both run of mine (“ROM”) gravel and pan tailings and bantam material (“Tailings”). Bluedust, at its own cost and expense, provides and maintains all plant and equipment as required and Tango`s subsidiary receives 40% of the gross income, less commission from diamonds recovered from Tailings and 25% of the gross income less commission from ROM for the duration of the 60-month contract. Diamond production from Oena, since acquisition, including production from both Tailings and ROM, now totals 1501 carats and have been sold at an average price of US$1,180 per carat.

On behalf of the Board of Directors of Tango Mining Limited

Samer Khalaf

Chief Executive Officer

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO ANNOUNCES PARTNERSHIP WITH CC MINING LIMITED

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VANCOUVER, BRITISH COLUMBIA — 7 February 2018 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce a partnership with CC Mining Limited (“CCML”), a wholly owned subsidiary of CC Energy Limited (“CCEL”), which is a member of the Consolidated Contractors Company (“CCC”) group, with regard to diamond projects in Angola.

Tango and CCML have signed a term sheet committing up to USD $1,300,000 investment (the “Investment”) that Tango will use toward the development of its Txapemba Project, Angola, (“Txapemba” or the “Project”), subject to certain conditions precedent. Tango has previously signed a three-year renewable Services Agreement for Mining and Marketing of Diamonds (the “Service Agreement”) with Txapemba Canguba RL for the semi-industrial exploitation of diamonds (see news release dated 11 September 2017). According to the Service Agreement, Tango is responsible for capital expenditures associated with alluvial mine design and equipment acquisition and is the sole operator. As remuneration, Tango will receive 60% of the net proceeds from the sale of produced stones, after deduction of Tango’s operational costs.

Txapemba will be the first collaborative project between Tango and CCML and the Investment will include both a debt and equity contribution to a new special purpose company. The Investment is subject to a renewal of the Project and transfer of the Service Agreement to a new subsidiary of Tango and other conditions precedents. Terms and conditions of the Investment will be provided upon completion of final legal documentation.

Tango took operational control of the Project on 23 October 2017. Since this time, the Project has been secured, earth moving equipment has been mobilized for the construction, upgrade and maintenance of roads and trenching has been completed in two areas to identify diamondiferous gravels. The Company will continue its geological and technical assessment of the Project with the invaluable support of the Txapemba Caguba RL technical team working with Tangos technical team that will result in the development of a work plan but maintains its intent to commence bulk sampling and small scale alluvial diamond production in early 2018.

About Consolidated Contractors Company (“CCC”) and CC Energy Limited (“CCEL”)

CCC was created in 1952 and has since become one of the world’s largest diversified international engineering and construction company’s active in over 50 countries and across five continents. Their portfolio includes oil and gas, heavy civil, buildings, infrastructure, mining, energy power and real estate. CCC successfully executes challenging projects in the remotest locations of the world with over 120,000 employees of over eighty nationalities and is currently ranked 19th of 225 international contractors by international revenue by the Engineering News-Record. Total revenue managed by CCC in 2016 was USD $4.6B and total sales were USD $2.9B. CCC believes that “partnerships are the cornerstone to their success”. http://www.ccc.net/

CCEL is an associated company of CCC and is an independent oil and gas upstream exploration and production company with operated and non-operated interests in assets in Nigeria, Oman, Gaza and Yemen. Its asset portfolio includes a diverse mix of exploration, development and production assets. CCEL, as operator, is currently producing over 40,000 BOPD from two of its licenses and has a 30% non-operated interest in a 1.2 TCF non-associated commercial gas discovery awaiting development approval in one of its other licenses.

About Tango Mining Limited

Tango, via its South African subsidiaries, holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three 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 the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, South Africa. Tango also has a three-year renewable Risk Services Agreement for Mining of Diamonds with Txapemba Canguba R.L, which was granted an 84-square km concession within the Luembe River basin, Angola and recently signed an agreement on an alluvial diamond project in Botswana called the Middlepits Project.

On behalf of the Board of Directors of Tango Mining Limited

 Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO ANNOUNCES ACQUISITION OF ALLUVIAL DIAMOND PROJECT IN BOTSWANA

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VANCOUVER, BRITISH COLUMBIA — 21 December 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it will acquire an 75% unencumbered interest in an alluvial diamond property in Botswana called the Middlepits Project (the “Property”) from Metswedi Mining (Pty) Ltd. Tango will be responsible for all further exploration and develoment expenditures on the Property upon closing (the “Closing”).

Middlepits Project, Botswana

The Property is located 470 kilometers (km) south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Botswana. The Property consists of one Prospecting License (“PL”) and was explored between 1974 and 1976 by De Beers, between 1978 and 1980 by Falconbridge and between 1993 and 1997 by Southern Africa Minerals Corporation.

The exploration work by De Beers identified an occurrence of diamondiferous gravels in the center of the Property. The diamondiferous gravels were evaluated by both hand augering and digging and were then screened and processed for diamonds and heavy minerals. The work resulted in the identification of a 100 square km area of river terrace gravels containing diamonds and heavy mineral concentrations, mainly garnets and ilmenites. The diamond content of the gravels has never been assessed systematically, however diamonds of up to 0.55 carats were recovered. The source of diamonds in the gravels is not known but it could be 1. the Molopo kimberlite cluster located immediately to the north east or 2. Falconbridge and Botswana Government airborne geophysics over the Property have defined geophysical targets which may be kimberlites and the source of the diamonds.

Additional exploration work is required to advance the diamondiferous gravels on the Property and Tango`s technical team will undertake to work with Metswedi to develop a comprehensive exploration and development program for the Property (the “Exploration Program”) in Q1 2018.

Metswedi has advised Tango that is is in the process of renewing the PL and Closing is subject to successfully renewing the PL. The PL covers 876 square kilometers and upon renewal will cover approximately 435 square km and will be valid for two years, with a further option to renew.

About Tango Mining Limited

Tango, via its South African subsidiaries, holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three 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 the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, South Africa. Tango also has a three-year renewable Risk Services Agreement for Mining of Diamonds with Txapemba Canguba R.L, which was granted an 84 square km concession within the Luembe River basin, Angola.

 

On behalf of the Board of Directors of Tango Mining Limited

 

Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

 

The technical disclosure in this news release have been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

TANGO PROVIDES OPERATIONAL UPDATE ON ITS PROJECT PORTFOLIO

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VANCOUVER, BRITISH COLUMBIA — 20 December 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce an operational update on its project portfolio located in both the Republic of South Africa and Republic of Angola.

Coal – Metallurgical and Mining Projects, Republic of South Africa
Three Operation and Maintenance of Coal Processing Plant Agreements, in respect of three Exxaro coal mines, Dorstfonein East, West and Forzando, have been renewed for three years to June 2020. The three agreements, via its South African subsidiary, Kwena Mining Projects (Pty) Ltd, collectively call for a minimum target of 6.24 million tonnes to be processed per annum.

Between 1 January and 30 November 2017 total processing throughput for the three coal mines was 6.43 million tonnes, within 1% of the year to date budget of 6.49 million tonnes. Company operations at the three coal mines consists of 231 permanent employees. The Company recorded one lost time injury during the reporting period, ending a six-year period with no significant injuries.

A significant turn-around in global coal prices has resulted in bullish conditions within the coal sector with a positive outlook for 2018. Tango has a continued development plan in place to grow this business using the successful past 19-year business model, an established market presence and its proven successful operational reputation in the southern African coal sector.

Diamonds – Oena, Republic of South Africa
Bluedust 7 Proprietary Limited (“Bluedust”) mobilized and commissioned mining and processing equipment, including a Bourevestnik X-ray sorter (“BVX”), to the Oena Diamond Mine and commenced operations on the 16 November 2017. Equipment that has been mobilized to site includes three 30 tonne (t) dumpers, 30t and 46t excavators, 50t excavator with centric ripper, two Caterpillar 950 front end loaders and two mobile sizing screens. Initially the gravel was processed through the BVX sorter without processing through a pan plant, but this proved to be inefficient as the -2mm particles as well as clay material masked the diamond tracers as well as the diamonds. It was decided that the best processing method would be to process the run of mine (ROM) material, as well as the pan tailings (“Tailings”), through a 16-foot pan and then treat the concentrate through the BVX. A total of 29.02 carats were recovered including one diamond of 12.7 carats. Due to the Christmas holidays, processing of ROM, Tailings and bantam material was discontinued on the 13 December 2017 but will recommence on 8 January 2018.

The Bluedust due diligence period has been extended to 28 February 2018 to allow time for additional equipment to be mobilized to site and the processing flow sheet to be modified in consideration of the experience gained at Oena over the past month.

The renewal of the New Order Mining Lease pertaining to the Oena Diamond Mine is pending and the Company has taken all the necessary steps in this regard for its renewal.

Diamonds – Txapemba, Republic of Angola
Tango has signed a three-year renewable Services Agreement for Mining and Marketing of Diamonds with Txapemba Canguba R.L who were granted an 84-square kilometer concession for the semi-industrial exploitation of diamonds (the “Property”) (see news release dated 11 September 2017). Tango took operational control of the Property on 23 October 2017. Since this time, 85 personnel have been engaged, the Property has been secured, earth moving equipment has been mobilized for the upgrade and maintenance of roads and an alluvial diamond wash plant is enroute to the concession area. The Company continues its geological assessment of the Property, that will result in the development of a work plan and plans to commence alluvial diamond production testing in January 2018.

On behalf of the Board of Directors of Tango Mining Limited
Mr. Samer Khalaf
Chief Executive Officer
info@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement
Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

The technical disclosure in this news release have been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

TANGO CLOSES PRIVATE PLACEMENT AND SHARES FOR DEBT SETTLEMENT

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VANCOUVER, BRITISH COLUMBIA — 15 December 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) announces that the private placement announced on November 27, 2017 has now closed, being a C$510,500 (US$400,000) one year unsecured convertible note bearing interest at a rate of 3% per annum (the “Unsecured Note”).  The Company has the option on or before the maturity date to convert, at its sole discretion, all or a portion of the Unsecured Note into units of Tango, with each unit consisting of one common share at a price of C$0.05 per share and one share purchase warrant, exercisable for two years, to purchase one additional share at C$0.10 per share (the “Units”). All or a portion of the accrued and unpaid interest due at the time conversion is also payable by the issuance of Units of Tango at the Company’s discretion at a price not below the trading market price at the time the interest is payable. The underlying common shares issuable upon conversion of the Unsecured Note are subject to a four‐month hold period from the date of issuance.

Tango has issued 17,895,380 common shares in the capital stock at a price of $0.05 per share to certain creditors to settle indebtedness in the aggregate of $894,769, pursuant to shares for debt settlements announced on November 16, 2017 and December 4, 2017.

Pursuant to its news release dated September 8, 2017, Tango has also issued an aggregate of 1,953,000 common shares at a price of $0.05 per share for compensation to the CEO and Executive Chairman for the months of September, October and November.

 

About Tango Mining Limited

Tango, via its South African subsidiaries, holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with client Exxaro. The three 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 the Oena Diamond Mine, a producing alluvial diamond property located in the Northern Cape Province, South Africa. Tango also has a three-year renewable Risk Services Agreement for Mining of Diamonds with Txapemba Canguba R.L, which was granted an 84 square km concession within the Luembe River basin, Angola.

 

On behalf of the Board of Directors of Tango Mining Limited

 

Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TANGO ANNOUNCES NEW MARKET-MAKING ARRANGEMENT

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VANCOUVER, BRITISH COLUMBIA — 13 December 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it has retained Lakeshore Securities Inc. (“Lakeshore”) of Toronto, Ontario to provide market-making services. The market-making services will be undertaken by Lakeshore in compliance with the guidelines of the TSX Venture Exchange.

Under the terms of the agreement, Tango will pay Lakeshore a monthly fee of up to $5,000 plus applicable taxes for a trial period of three months, commencing January 1, 2018. After the three month period, and if both parties are in agreement, the contract will roll over on a month-to-month basis with 15 days written notice required to terminate the contract.

There are no performance factors contained in the agreement and Lakeshore will not receive any shares or options from Tango as compensation for the services it will render. Tango and Lakeshore are unrelated and unaffiliated entities, but Lakeshore and/or its clients may have a direct interest in the securities of Tango.

 

About Lakeshore Securities Inc.

Lakeshore is a Canadian securities dealer located in Toronto, Ontario and provides advisory and brokerage services to institutional, retail and high net worth individual investors. Lakeshore is a Toronto Stock Exchange participating organization, a TSX Venture Exchange member and a Canadian Securities Exchange dealer. Lakeshore is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).

 

About Tango Mining Limited

Tango via its South African subsidiaries holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with clientele that include Exxaro. The three 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 the Oena Diamond Mine, an alluvial diamond property located in the Northern Cape Province, South Africa. Tango has a three year renewable Risk Services Agreement for Mining of Diamonds with Txapemba Canguba R.L, which was granted an 84 square kilometer concession within the Luembe River basin in Angola.

 

On behalf of the Board of Directors of Tango Mining Limited

 Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue. 

 

 

TANGO COMPLETES SHARES FOR DEBT SETTLEMENT

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VANCOUVER, BRITISH COLUMBIA — 4 December 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) announces that it has reached a settlement with creditors for debt totalling C$816,736 by the issuance of 16,334,720 common shares at a price of $0.05 per share. These shares for debt settlements are subject to the approval of the TSX Venture Exchange.

About Tango Mining Limited

Tango via its South African subsidiaries holds three thermal coal, metallurgical, processing plant and engineering contracts that process 6.5 Mt of coal per annum, with clientele that include Exxaro. The three 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 the Oena Diamond Mine, an alluvial diamond property located in the Northern Cape Province, South Africa. Tango also has a three year renewable Risk Services Agreement for Mining of Diamonds with Txapemba Canguba R.L, which was granted an 84 square kilometer concession within the Luembe River basin in Angola.

 

On behalf of the Board of Directors of Tango Mining Limited

 

Mr. Samer Khalaf

Chief Executive Officer

info@tangomining.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

 

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.