Deadline for BK11 Mine sale extended again

Wednesday, August 31, 2016

Firestone Diamonds has for the third time extended the deadline for the sale of its BK11 Mine to allow Canadian miner, Tango Mining more time to raise funds for the $8 million acquisition.

In a statement released yesterday, Firestone said Tango Mining now has until the revised date of September 9, 2016 to settle all the conditions under the Conditional Sale Agreement (CSA).

Firestone said the agreement to extend the due date allows Tango to finalise its proposed $30-million loan commitment with California-based financial lender Vanderbilt Commercial to finance the acquisition of the operations and provide the capital to restart the mothballed BK11 kimberlite diamond operations.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Explore your decoder anew: Celebrate Africa Month with DStv’s exceptional

Staff Writer | 5 h ago

Galaxy accuse GU of abuse

Kabelo Boranabi | 5 h ago

Rollers' silverware hopes suffer huge dent

Larona Makhaiza | 5 h ago

Hawks claim another Premier League side's scalp

Larona Makhaiza | 5 h ago

The Makwala conundrum

Mqondisi Dube | 5 h ago

National team athletes shine at Gabs Open Championships

Calistus Kolantsho | 5 h ago

Sweet debut for Jacobs

Chakalisa Dube | 5 h ago

History-making relay team bags P540,000

Calistus Kolantsho | 10 h ago

Gov’t must rectify recognition of Khama as Kgosi

While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....

Mmegi Editor | 03 May 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Deadline for BK11 Mine sale extended again

Firestone Diamonds has for the third time extended the deadline for the sale of its BK11 Mine to allow Canadian miner, Tango Mining more time to raise funds for the $8 million acquisition.