JOHANNESBURG (miningweekly.com) – Tango Mining has requested an extension to the due date of a $300 000 deposit owed to Lesotho-based diamond development company Firestone Diamonds for the acquisition of its BK11 mine, in Botswana.
This after the Canadian diversified junior missed the September 30 deadline by which it had agreed to pay the deposit into escrow, in accordance with the conditional sale agreement.
“Firestone is currently in discussions with Tango Mining to consider its request to extend the due date for the payment of the $7.65-million consideration still due to enable Tango to complete its fundraising activities,” Firestone said in a statement on Friday.