BK11 Diamond Mine sale flops

Thursday, September 15, 2016

Firestone Diamonds will here to find new buyers for BK11 Mine

An $8 million (P88 million) deal to sell BK11 Diamond Mine near Orapa has fallen through after the prospective buyers missed a revised deadline to raise capital for the acquisition.

In a statement released this week, Firestone Diamonds Plc said the sale will no longer proceed as Tango Mining has failed to raise the capital within the agreed timelines.

Firestone had previously postponed the deadline three times to allow Tango more time to raise the cash.

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BK11 Diamond Mine sale flops

An $8 million (P88 million) deal to sell BK11 Diamond Mine near Orapa has fallen through after the prospective buyers missed a revised deadline to raise capital for the acquisition.

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